LongView Wealth Management Has $441,000 Position in Rio Tinto Group (NYSE:RIO)

LongView Wealth Management lessened its holdings in Rio Tinto Group (NYSE:RIO) by 7.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 7,492 shares of the mining company’s stock after selling 615 shares during the quarter. LongView Wealth Management’s holdings in Rio Tinto Group were worth $441,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of RIO. Bank of Montreal Can boosted its holdings in Rio Tinto Group by 237.0% in the 2nd quarter. Bank of Montreal Can now owns 2,472,471 shares of the mining company’s stock valued at $164,493,000 after purchasing an additional 1,738,752 shares during the period. Palliser Capital UK Ltd grew its position in Rio Tinto Group by 213.8% during the fourth quarter. Palliser Capital UK Ltd now owns 989,417 shares of the mining company’s stock worth $58,188,000 after buying an additional 674,117 shares in the last quarter. Fisher Asset Management LLC increased its stake 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 worth $1,247,475,000 after acquiring an additional 485,731 shares during the period. Mediolanum International Funds Ltd bought a new position in shares of Rio Tinto Group in the third quarter worth $33,590,000. Finally, SPX Gestao de Recursos Ltda increased its holdings in Rio Tinto Group by 1,773.2% in the 3rd quarter. SPX Gestao de Recursos Ltda now owns 426,922 shares of the mining company’s stock valued at $30,384,000 after buying an additional 404,131 shares during the period. 19.33% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on RIO. Macquarie restated a “neutral” rating on shares of Rio Tinto Group in a research report on Wednesday, October 16th. Berenberg Bank upgraded shares of Rio Tinto Group from a “hold” rating to a “buy” rating in a research report on Wednesday, October 2nd. Jefferies Financial Group lowered their price target on shares of Rio Tinto Group from $83.00 to $73.00 and set a “buy” rating for the company in a report on Monday, January 6th. Finally, StockNews.com raised Rio Tinto Group from a “buy” rating to a “strong-buy” rating in a research note on Friday. Four equities research 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 company’s stock. According to data from MarketBeat.com, Rio Tinto Group currently has a consensus rating of “Moderate Buy” and an average target price of $73.00.

Rio Tinto Group Stock Up 2.0 %

RIO opened at $61.00 on Friday. Rio Tinto Group has a fifty-two week low of $57.85 and a fifty-two week high of $74.24. The company’s 50-day moving average is $61.05 and its 200 day moving average is $63.61. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.70 and a quick ratio of 1.16.

Rio Tinto Group Company 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.