Americana Partners LLC Invests $291,000 in Rio Tinto Group (NYSE:RIO)

Americana Partners LLC bought a new position in Rio Tinto Group (NYSE:RIO) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 4,946 shares of the mining company’s stock, valued at approximately $291,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. Fisher Asset Management LLC boosted its holdings in shares of Rio Tinto Group by 2.9% in 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 in the last quarter. FMR LLC boosted its holdings in shares of Rio Tinto Group by 35.1% in the 3rd quarter. FMR LLC now owns 1,381,766 shares of the mining company’s stock worth $98,340,000 after acquiring an additional 358,630 shares in the last quarter. Palliser Capital UK Ltd boosted its holdings in shares of Rio Tinto Group by 213.8% in the 4th quarter. Palliser Capital UK Ltd now owns 989,417 shares of the mining company’s stock worth $58,188,000 after acquiring an additional 674,117 shares in the last quarter. Van ECK Associates Corp boosted its holdings in shares of Rio Tinto Group by 10.7% in the 3rd quarter. Van ECK Associates Corp now owns 693,102 shares of the mining company’s stock worth $49,328,000 after acquiring an additional 67,213 shares in the last quarter. Finally, Mediolanum International Funds Ltd acquired a new position in shares of Rio Tinto Group in the 3rd quarter worth approximately $33,590,000. 19.33% of the stock is owned by institutional investors and hedge funds.

Rio Tinto Group Stock Up 1.3 %

Shares of RIO opened at $64.21 on Wednesday. The company has a current ratio of 1.70, a quick ratio of 1.16 and a debt-to-equity ratio of 0.23. The business’s fifty day moving average price is $60.62 and its two-hundred day moving average price is $62.92. Rio Tinto Group has a 52 week low of $57.85 and a 52 week high of $74.24.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Jefferies Financial Group decreased their price objective on 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 upgraded Rio Tinto Group from a “buy” rating to a “strong-buy” rating in a research report on Friday, February 14th. Four investment analysts have rated the stock with a hold rating, three have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target 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.