Advisors Asset Management Inc. Raises Holdings in Rio Tinto Group (NYSE:RIO)

Advisors Asset Management Inc. lifted its position in shares of Rio Tinto Group (NYSE:RIO) by 11.9% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 79,333 shares of the mining company’s stock after acquiring an additional 8,417 shares during the quarter. Advisors Asset Management Inc.’s holdings in Rio Tinto Group were worth $5,646,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. GHP Investment Advisors Inc. bought a new stake in shares of Rio Tinto Group in the second quarter valued at approximately $26,000. Winch Advisory Services LLC purchased a new position in Rio Tinto Group in the 3rd quarter valued at approximately $26,000. FSC Wealth Advisors LLC bought a new stake in Rio Tinto Group during the 3rd quarter valued at $28,000. Sound Income Strategies LLC lifted its position in shares of Rio Tinto Group by 70.9% during the third quarter. Sound Income Strategies LLC now owns 417 shares of the mining company’s stock worth $30,000 after acquiring an additional 173 shares in the last quarter. Finally, Centerpoint Advisors LLC boosted its holdings in shares of Rio Tinto Group by 110.0% in the second quarter. Centerpoint Advisors LLC now owns 525 shares of the mining company’s stock worth $35,000 after acquiring an additional 275 shares during the period. 19.33% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms recently issued reports on RIO. Macquarie reiterated a “neutral” rating on shares of Rio Tinto Group in a research note on Wednesday, October 16th. Berenberg Bank raised shares of Rio Tinto Group from a “hold” rating to a “buy” rating in a report on Wednesday, October 2nd. Royal Bank of Canada raised shares of Rio Tinto Group to a “hold” rating in a research note on Wednesday, July 31st. Finally, StockNews.com cut shares of Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, November 12th. Four analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy”.

Rio Tinto Group Trading Up 0.3 %

Shares of NYSE:RIO opened at $62.57 on Friday. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.70 and a quick ratio of 1.16. The company’s fifty day moving average price is $65.57 and its 200-day moving average price is $65.89. Rio Tinto Group has a one year low of $59.35 and a one year high of $75.09.

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.