Persium Advisors LLC Buys New Stake in Rio Tinto Group (NYSE:RIO)

Persium Advisors LLC acquired a new stake in shares of Rio Tinto Group (NYSE:RIO) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 7,178 shares of the mining company’s stock, valued at approximately $422,000.

A number of other hedge funds have also modified their holdings of the stock. Fisher Asset Management LLC boosted its stake 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 valued at $1,247,475,000 after purchasing an additional 485,731 shares in the last quarter. Bank of Montreal Can increased its holdings in shares of Rio Tinto Group by 237.0% during the second quarter. Bank of Montreal Can now owns 2,472,471 shares of the mining company’s stock worth $164,493,000 after buying an additional 1,738,752 shares in the last quarter. FMR LLC raised its stake in shares of Rio Tinto Group by 35.1% in the third quarter. FMR LLC now owns 1,381,766 shares of the mining company’s stock valued at $98,340,000 after acquiring an additional 358,630 shares during the last quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH grew its position in Rio Tinto Group by 9.8% during the 3rd quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 932,151 shares of the mining company’s stock worth $66,341,000 after acquiring an additional 83,569 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in Rio Tinto Group by 78.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 858,050 shares of the mining company’s stock valued at $56,565,000 after purchasing an additional 376,778 shares in the last quarter. 19.33% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have recently commented on RIO shares. StockNews.com cut Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a report on Tuesday, November 12th. Jefferies Financial Group dropped their target price on shares of Rio Tinto Group from $83.00 to $73.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Berenberg Bank raised shares of Rio Tinto Group from a “hold” rating to a “buy” rating in a report on Wednesday, October 2nd. Finally, Macquarie reaffirmed a “neutral” rating on shares of Rio Tinto Group in a report on Wednesday, October 16th. Four equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $73.00.

Rio Tinto Group Trading Up 1.2 %

NYSE RIO traded up $0.72 during trading on Monday, reaching $59.56. 2,285,620 shares of the stock traded hands, compared to its average volume of 2,951,010. The company has a quick ratio of 1.16, a current ratio of 1.70 and a debt-to-equity ratio of 0.23. Rio Tinto Group has a fifty-two week low of $57.85 and a fifty-two week high of $74.24. The stock’s 50-day moving average price is $61.51 and its 200 day moving average price is $63.74. The firm has a market cap of $74.62 billion, a price-to-earnings ratio of 8.64, a price-to-earnings-growth ratio of 0.38 and a beta of 0.66.

Rio Tinto Group 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.