Nicholas Hoffman & Company LLC. Has $388,000 Position in Rio Tinto Group (NYSE:RIO)

Nicholas Hoffman & Company LLC. lessened its position in Rio Tinto Group (NYSE:RIO) by 5.0% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 6,599 shares of the mining company’s stock after selling 344 shares during the quarter. Nicholas Hoffman & Company LLC.’s holdings in Rio Tinto Group were worth $388,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently bought and sold shares of the company. Fisher Asset Management LLC raised its holdings in shares of Rio Tinto Group by 2.9% in the third quarter. Fisher Asset Management LLC now owns 17,528,095 shares of the mining company’s stock valued at $1,247,475,000 after purchasing an additional 485,731 shares during the last quarter. FMR LLC boosted its holdings in Rio Tinto Group by 35.1% during the third quarter. FMR LLC now owns 1,381,766 shares of the mining company’s stock worth $98,340,000 after purchasing an additional 358,630 shares during the last quarter. Palliser Capital UK Ltd grew its position in Rio Tinto Group by 213.8% in the fourth quarter. Palliser Capital UK Ltd now owns 989,417 shares of the mining company’s stock valued at $58,188,000 after purchasing an additional 674,117 shares in the last quarter. Van ECK Associates Corp increased its stake in Rio Tinto Group by 10.7% in the 3rd quarter. Van ECK Associates Corp now owns 693,102 shares of the mining company’s stock valued at $49,328,000 after buying an additional 67,213 shares during the last quarter. Finally, Mediolanum International Funds Ltd bought a new stake in Rio Tinto Group during the 3rd quarter worth about $33,590,000. Institutional investors own 19.33% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on RIO shares. StockNews.com upgraded Rio Tinto Group from a “buy” rating to a “strong-buy” rating in a report on Friday. Jefferies Financial Group reduced their price target on Rio Tinto Group from $83.00 to $73.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Four analysts have rated the stock with a hold rating, three have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, Rio Tinto Group currently has a consensus rating of “Moderate Buy” and a consensus price target of $73.00.

Rio Tinto Group Stock Up 0.1 %

Shares of RIO stock opened at $63.38 on Tuesday. Rio Tinto Group has a 52-week low of $57.85 and a 52-week high of $74.24. The firm’s 50-day moving average is $60.65 and its 200-day moving average is $62.92. The company has a quick ratio of 1.16, a current ratio of 1.70 and a debt-to-equity ratio of 0.23.

About Rio Tinto Group

Rio Tinto Group engages in exploring, mining, and processing mineral resources worldwide. The company operates through Iron Ore, Aluminium, Copper, and Minerals Segments. The Iron Ore segment engages in the iron ore mining, and salt and gypsum production in Western Australia. The Aluminum segment is involved in bauxite mining; alumina refining; and aluminium smelting.