Bell Bank Has $8.37 Million Stock Holdings in Rio Tinto Group (NYSE:RIO)

Bell Bank increased its holdings in Rio Tinto Group (NYSE:RIO) by 18.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 142,231 shares of the mining company’s stock after purchasing an additional 22,168 shares during the quarter. Rio Tinto Group makes up 0.6% of Bell Bank’s investment portfolio, making the stock its 29th biggest holding. Bell Bank’s holdings in Rio Tinto Group were worth $8,365,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Jeppson Wealth Management LLC increased its holdings in shares of Rio Tinto Group by 47.5% during the fourth quarter. Jeppson Wealth Management LLC now owns 20,093 shares of the mining company’s stock valued at $1,182,000 after acquiring an additional 6,473 shares in the last quarter. Philip James Wealth Mangement LLC bought a new position in Rio Tinto Group in the 3rd quarter worth approximately $1,345,000. Fisher Asset Management LLC increased its position in shares of Rio Tinto Group by 2.9% during the third 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 during the period. Northwest Bancshares Inc. bought a new stake in Rio Tinto Group during the 3rd quarter worth approximately $1,440,000. Finally, Barclays PLC boosted its position in shares of Rio Tinto Group by 225.6% during the 3rd quarter. Barclays PLC now owns 335,637 shares of the mining company’s stock valued at $23,888,000 after acquiring an additional 232,539 shares during the last quarter. 19.33% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on RIO. Jefferies Financial Group reduced 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 cut Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a report on Saturday. Four equities research 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. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $73.00.

Rio Tinto Group Price Performance

Shares of RIO stock opened at $63.43 on Friday. The company has a quick ratio of 1.16, a current ratio of 1.63 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 stock’s 50-day moving average price is $60.61 and its 200-day moving average price is $62.94.

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.