Ritholtz Wealth Management Has $4.42 Million Stock Position in Rio Tinto Group (NYSE:RIO)

Ritholtz Wealth Management raised its holdings in Rio Tinto Group (NYSE:RIO) by 20.1% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 75,132 shares of the mining company’s stock after acquiring an additional 12,557 shares during the quarter. Ritholtz Wealth Management’s holdings in Rio Tinto Group were worth $4,419,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Winch Advisory Services LLC acquired a new stake in shares of Rio Tinto Group during the third quarter worth $26,000. FSC Wealth Advisors LLC acquired a new stake in shares of Rio Tinto Group during the third quarter worth $28,000. Thurston Springer Miller Herd & Titak Inc. increased its position in shares of Rio Tinto Group by 63.9% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 500 shares of the mining company’s stock worth $29,000 after buying an additional 195 shares during the period. Sound Income Strategies LLC increased its position in shares of Rio Tinto Group by 70.9% during the third quarter. Sound Income Strategies LLC now owns 417 shares of the mining company’s stock worth $30,000 after buying an additional 173 shares during the period. Finally, Northwest Investment Counselors LLC acquired a new stake in shares of Rio Tinto Group during the third quarter worth $38,000. 19.33% of the stock is currently owned by institutional investors and hedge funds.

Rio Tinto Group Price Performance

Rio Tinto Group stock opened at $59.68 on Friday. The company has a quick ratio of 1.16, a current ratio of 1.70 and a debt-to-equity ratio of 0.23. The firm’s fifty day moving average price is $61.20 and its two-hundred day moving average price is $63.64. Rio Tinto Group has a 1-year low of $57.85 and a 1-year high of $74.24.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on RIO shares. Macquarie reiterated a “neutral” rating on shares of Rio Tinto Group in a research report on Wednesday, October 16th. Berenberg Bank raised shares of Rio Tinto Group from a “hold” rating to a “buy” rating in a research note on Wednesday, October 2nd. Jefferies Financial Group cut 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 note on Monday, January 6th. Finally, StockNews.com lowered shares of Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, November 12th. Four investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Rio Tinto Group has an average rating of “Moderate Buy” and an average target price of $73.00.

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.