Rio Tinto Group (NYSE:RIO) Shares Purchased by Horizon Kinetics Asset Management LLC

Horizon Kinetics Asset Management LLC boosted its position in shares of Rio Tinto Group (NYSE:RIO) by 106.0% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 16,266 shares of the mining company’s stock after buying an additional 8,370 shares during the quarter. Horizon Kinetics Asset Management LLC’s holdings in Rio Tinto Group were worth $1,158,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Winch Advisory Services LLC purchased a new stake in shares of Rio Tinto Group during the 3rd quarter worth about $26,000. GHP Investment Advisors Inc. purchased a new position in Rio Tinto Group during the second quarter worth approximately $26,000. FSC Wealth Advisors LLC acquired a new stake in Rio Tinto Group in the third quarter valued at approximately $28,000. Sound Income Strategies LLC increased its position in shares of 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 buying an additional 173 shares in the last quarter. Finally, Centerpoint Advisors LLC raised its stake in shares of Rio Tinto Group by 110.0% during the 2nd quarter. Centerpoint Advisors LLC now owns 525 shares of the mining company’s stock worth $35,000 after buying an additional 275 shares during the period. Hedge funds and other institutional investors own 19.33% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have issued reports on RIO shares. Macquarie reaffirmed a “neutral” rating on shares of Rio Tinto Group in a report on Wednesday, October 16th. StockNews.com lowered shares of Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, November 12th. Royal Bank of Canada upgraded Rio Tinto Group to a “hold” rating in a research note on Wednesday, July 31st. Finally, Berenberg Bank upgraded Rio Tinto Group from a “hold” rating to a “buy” rating in a research report on Wednesday, October 2nd. Four investment analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy”.

Rio Tinto Group Price Performance

RIO opened at $62.97 on Tuesday. Rio Tinto Group has a twelve month low of $59.35 and a twelve month high of $75.09. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.16 and a current ratio of 1.70. The firm’s 50-day moving average price is $65.57 and its 200 day moving average price is $65.74.

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.