Advocate Group LLC Buys 6,384 Shares of Rio Tinto Group (NYSE:RIO)

Advocate Group LLC raised its stake in Rio Tinto Group (NYSE:RIO) by 14.0% in the fourth quarter, Holdings Channel.com reports. The firm owned 52,007 shares of the mining company’s stock after acquiring an additional 6,384 shares during the period. Advocate Group LLC’s holdings in Rio Tinto Group were worth $3,059,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently bought and sold shares of the stock. Fisher Asset Management LLC raised 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 buying an additional 485,731 shares in the last quarter. FMR LLC increased its position in Rio Tinto Group by 35.1% in the 3rd 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 in the last quarter. Palliser Capital UK Ltd boosted its stake 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 valued at $58,188,000 after purchasing an additional 674,117 shares during the last quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH boosted its stake in shares of Rio Tinto Group by 9.8% in the 3rd quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 932,151 shares of the mining company’s stock valued at $66,341,000 after purchasing an additional 83,569 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Rio Tinto Group by 78.3% in 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 during the last quarter. 19.33% of the stock is owned by institutional investors.

Rio Tinto Group Stock Up 0.9 %

NYSE RIO opened at $62.11 on Friday. The company has a current ratio of 1.70, a quick ratio of 1.16 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 firm’s 50 day moving average is $61.02 and its 200-day moving average is $63.37.

Wall Street Analyst Weigh In

Several research firms recently weighed in on RIO. Berenberg Bank raised shares of Rio Tinto Group from a “hold” rating to a “buy” rating in a research note on Wednesday, October 2nd. Jefferies Financial Group cut their price target on shares of Rio Tinto Group from $83.00 to $73.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. Macquarie reaffirmed a “neutral” rating on shares of Rio Tinto Group in a research note on Wednesday, October 16th. Finally, StockNews.com lowered shares of Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a research note on Saturday. Four analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Rio Tinto Group currently has an average rating of “Moderate Buy” and a consensus price target of $73.00.

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.