Brooklyn Investment Group Acquires 883 Shares of Rio Tinto Group (NYSE:RIO)

Brooklyn Investment Group increased its stake in Rio Tinto Group (NYSE:RIO) by 467.2% during the fourth quarter, Holdings Channel.com reports. The firm owned 1,072 shares of the mining company’s stock after purchasing an additional 883 shares during the quarter. Brooklyn Investment Group’s holdings in Rio Tinto Group were worth $63,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Winch Advisory Services LLC purchased a new stake in Rio Tinto Group in the third quarter worth about $26,000. FSC Wealth Advisors LLC purchased a new stake in Rio Tinto Group in the 3rd quarter worth approximately $28,000. Thurston Springer Miller Herd & Titak Inc. raised its stake in Rio Tinto Group by 63.9% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 500 shares of the mining company’s stock worth $29,000 after acquiring an additional 195 shares during the period. Sound Income Strategies LLC raised its stake in Rio Tinto Group by 70.9% during the 3rd quarter. Sound Income Strategies LLC now owns 417 shares of the mining company’s stock worth $30,000 after acquiring an additional 173 shares during the period. Finally, Northwest Investment Counselors LLC purchased a new position in Rio Tinto Group during the third quarter valued at approximately $38,000. 19.33% of the stock is owned by institutional investors.

Rio Tinto Group Stock Up 2.0 %

Shares of NYSE RIO opened at $61.00 on Monday. Rio Tinto Group has a 52-week low of $57.85 and a 52-week high of $74.24. The company has a current ratio of 1.70, a quick ratio of 1.16 and a debt-to-equity ratio of 0.23. The firm’s fifty day moving average is $60.98 and its two-hundred day moving average is $63.56.

Wall Street Analysts Forecast Growth

RIO has been the subject of a number of analyst reports. Berenberg Bank raised shares of Rio Tinto Group from a “hold” rating to a “buy” rating in a research note on Wednesday, October 2nd. Macquarie reiterated a “neutral” rating on shares of Rio Tinto Group in a research note on Wednesday, October 16th. StockNews.com upgraded Rio Tinto Group from a “buy” rating to a “strong-buy” rating in a research report on Friday. Finally, Jefferies Financial Group cut their target price on Rio Tinto Group from $83.00 to $73.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Four research analysts have rated the stock with a hold rating, three have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price 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.