Kathmere Capital Management LLC Increases Stock Holdings in Rio Tinto Group (NYSE:RIO)

Kathmere Capital Management LLC boosted its position in shares of Rio Tinto Group (NYSE:RIO) by 18.6% during the fourth quarter, Holdings Channel.com reports. The firm owned 3,544 shares of the mining company’s stock after buying an additional 556 shares during the quarter. Kathmere Capital Management LLC’s holdings in Rio Tinto Group were worth $208,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Armstrong Advisory Group Inc. raised its position in shares of Rio Tinto Group by 9.6% during the 3rd quarter. Armstrong Advisory Group Inc. now owns 1,808 shares of the mining company’s stock valued at $129,000 after buying an additional 159 shares during the period. Sound Income Strategies LLC raised its position in Rio Tinto Group by 70.9% in the third quarter. Sound Income Strategies LLC now owns 417 shares of the mining company’s stock valued at $30,000 after purchasing an additional 173 shares during the period. Concurrent Investment Advisors LLC lifted its stake in shares of Rio Tinto Group by 4.3% in the 3rd quarter. Concurrent Investment Advisors LLC now owns 4,261 shares of the mining company’s stock valued at $303,000 after purchasing an additional 175 shares during the last quarter. Fiduciary Financial Group LLC grew its holdings in shares of Rio Tinto Group by 3.7% during the 3rd quarter. Fiduciary Financial Group LLC now owns 4,945 shares of the mining company’s stock worth $330,000 after purchasing an additional 178 shares during the period. Finally, Evergreen Capital Management LLC increased its position in shares of Rio Tinto Group by 1.2% during the 2nd quarter. Evergreen Capital Management LLC now owns 15,515 shares of the mining company’s stock worth $1,023,000 after purchasing an additional 179 shares during the last quarter. 19.33% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have commented on RIO shares. StockNews.com cut shares of Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, November 12th. Jefferies Financial Group decreased their price objective on shares of Rio Tinto Group from $83.00 to $73.00 and set a “buy” rating on the stock in a report on Monday, January 6th. Macquarie reiterated a “neutral” rating on shares of Rio Tinto Group in a report on Wednesday, October 16th. Finally, Berenberg Bank upgraded Rio Tinto Group from a “hold” rating to a “buy” rating in a research note on Wednesday, October 2nd. Four analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Rio Tinto Group currently has a consensus rating of “Moderate Buy” and an average target price of $73.00.

Rio Tinto Group Stock Down 1.3 %

Shares of RIO opened at $59.68 on Friday. Rio Tinto Group has a fifty-two week low of $57.85 and a fifty-two week high of $74.24. The company has a quick ratio of 1.16, a current ratio of 1.70 and a debt-to-equity ratio of 0.23. The firm’s 50 day moving average price is $61.20 and its 200 day moving average price is $63.64.

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.