Royal Fund Management LLC Increases Position in Rio Tinto Group (NYSE:RIO)

Royal Fund Management LLC grew its stake in Rio Tinto Group (NYSE:RIO) by 51.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 35,203 shares of the mining company’s stock after buying an additional 11,931 shares during the period. Royal Fund Management LLC’s holdings in Rio Tinto Group were worth $2,071,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Dimensional Fund Advisors LP boosted its stake in shares of Rio Tinto Group by 78.3% in the second quarter. Dimensional Fund Advisors LP now owns 858,050 shares of the mining company’s stock valued at $56,565,000 after buying an additional 376,778 shares in the last quarter. Blair William & Co. IL increased its position in Rio Tinto Group by 85.7% during the 2nd quarter. Blair William & Co. IL now owns 16,915 shares of the mining company’s stock worth $1,115,000 after purchasing an additional 7,807 shares in the last quarter. Benjamin F. Edwards & Company Inc. raised its position in shares of Rio Tinto Group by 5.1% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 4,010 shares of the mining company’s stock valued at $264,000 after buying an additional 193 shares during the last quarter. AE Wealth Management LLC boosted its holdings in shares of Rio Tinto Group by 4.8% during the second quarter. AE Wealth Management LLC now owns 8,200 shares of the mining company’s stock worth $541,000 after purchasing an additional 378 shares during the last quarter. Finally, Thrivent Financial for Lutherans increased its stake in shares of Rio Tinto Group by 25.3% during the 2nd quarter. Thrivent Financial for Lutherans now owns 27,258 shares of the mining company’s stock valued at $1,797,000 after acquiring an additional 5,511 shares during the last quarter. 19.33% of the stock is owned by hedge funds and other institutional investors.

Rio Tinto Group Trading Up 2.0 %

NYSE RIO opened at $61.00 on Tuesday. The stock’s 50-day moving average price is $60.98 and its two-hundred day moving average price is $63.53. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.16 and a current ratio of 1.70. Rio Tinto Group has a 1 year low of $57.85 and a 1 year high of $74.24.

Analyst Ratings Changes

A number of brokerages recently weighed in on RIO. Berenberg Bank upgraded Rio Tinto Group from a “hold” rating to a “buy” rating in a report on Wednesday, October 2nd. Macquarie reiterated a “neutral” rating on shares of Rio Tinto Group in a research note on Wednesday, October 16th. Jefferies Financial Group decreased their price objective 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 report on Friday. Four research analysts have rated the stock with a hold rating, three have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $73.00.

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.