Rio Tinto Group (NYSE:RIO) Shares Acquired by Todd Asset Management LLC

Todd Asset Management LLC grew its holdings in shares of Rio Tinto Group (NYSE:RIO) by 1.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,068,182 shares of the mining company’s stock after buying an additional 10,062 shares during the quarter. Rio Tinto Group accounts for about 1.5% of Todd Asset Management LLC’s holdings, making the stock its 10th biggest position. Todd Asset Management LLC owned approximately 0.09% of Rio Tinto Group worth $62,820,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in RIO. Jeppson Wealth Management LLC raised its position in Rio Tinto Group by 47.5% in the fourth quarter. Jeppson Wealth Management LLC now owns 20,093 shares of the mining company’s stock worth $1,182,000 after acquiring an additional 6,473 shares during the period. Philip James Wealth Mangement LLC purchased a new stake in shares of Rio Tinto Group in the 3rd quarter valued at $1,345,000. Fisher Asset Management LLC raised its holdings in Rio Tinto Group by 2.9% during the 3rd quarter. Fisher Asset Management LLC now owns 17,528,095 shares of the mining company’s stock valued at $1,247,475,000 after buying an additional 485,731 shares during the last quarter. Northwest Bancshares Inc. bought a new stake in Rio Tinto Group during the 3rd quarter valued at $1,440,000. Finally, Barclays PLC raised its holdings in Rio Tinto Group by 225.6% in the 3rd quarter. Barclays PLC now owns 335,637 shares of the mining company’s stock worth $23,888,000 after purchasing an additional 232,539 shares in the last quarter. 19.33% of the stock is currently owned by institutional investors and hedge funds.

Rio Tinto Group Price Performance

Shares of RIO stock opened at $62.67 on Tuesday. Rio Tinto Group has a fifty-two week low of $57.85 and a fifty-two week high of $74.24. The firm has a market capitalization of $78.52 billion, a price-to-earnings ratio of 9.72, a PEG ratio of 0.42 and a beta of 0.65. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.16 and a current ratio of 1.63. The stock’s 50-day simple moving average is $60.64 and its 200-day simple moving average is $62.94.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Jefferies Financial Group reduced their target price on shares of Rio Tinto Group from $83.00 to $73.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. StockNews.com cut shares of Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a research note on Saturday. Four analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $73.00.

Rio Tinto Group Profile

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.