MKT Advisors LLC Buys 300 Shares of Rio Tinto Group (NYSE:RIO)

MKT Advisors LLC boosted its stake in Rio Tinto Group (NYSE:RIO) by 6.8% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,690 shares of the mining company’s stock after purchasing an additional 300 shares during the quarter. MKT Advisors LLC’s holdings in Rio Tinto Group were worth $287,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Philip James Wealth Mangement LLC purchased a new stake in shares of Rio Tinto Group in the third quarter worth about $1,345,000. Fisher Asset Management LLC grew 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 in the last quarter. Barclays PLC increased its stake 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 acquiring an additional 232,539 shares during the last quarter. Northwest Bancshares Inc. purchased a new stake in shares of Rio Tinto Group during the 3rd quarter worth approximately $1,440,000. Finally, Palliser Capital UK Ltd boosted its position in shares of Rio Tinto Group by 213.8% during the 4th quarter. Palliser Capital UK Ltd now owns 989,417 shares of the mining company’s stock valued at $58,188,000 after acquiring an additional 674,117 shares during the last quarter. Institutional investors own 19.33% of the company’s stock.

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. Jefferies Financial Group dropped 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. StockNews.com downgraded Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a research report on Saturday. Finally, Berenberg Bank raised Rio Tinto Group from a “hold” rating to a “buy” rating in a research note on Wednesday, October 2nd. Four research analysts have rated the stock with a hold rating, four have given 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 price target of $73.00.

Rio Tinto Group Stock Up 0.9 %

Shares of NYSE:RIO opened at $62.11 on Friday. The company has a current ratio of 1.70, a quick ratio of 1.16 and a debt-to-equity ratio of 0.23. Rio Tinto Group has a 12 month low of $57.85 and a 12 month high of $74.24. The firm’s 50-day moving average is $61.02 and its 200 day moving average is $63.37.

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.