Abel Hall LLC Acquires 285 Shares of Rio Tinto Group (NYSE:RIO)

Abel Hall LLC lifted its stake in Rio Tinto Group (NYSE:RIO) by 4.8% during the fourth quarter, HoldingsChannel reports. The firm owned 6,178 shares of the mining company’s stock after purchasing an additional 285 shares during the period. Abel Hall LLC’s holdings in Rio Tinto Group were worth $363,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. SteelPeak Wealth LLC purchased a new stake in Rio Tinto Group in the 4th quarter valued at about $11,810,000. Stonegate Investment Group LLC boosted its holdings in shares of Rio Tinto Group by 24.7% in the fourth quarter. Stonegate Investment Group LLC now owns 6,819 shares of the mining company’s stock valued at $401,000 after purchasing an additional 1,352 shares during the period. Perigon Wealth Management LLC grew its stake in Rio Tinto Group by 81.2% in the fourth quarter. Perigon Wealth Management LLC now owns 10,832 shares of the mining company’s stock worth $648,000 after purchasing an additional 4,855 shares in the last quarter. Jeppson Wealth Management LLC increased its holdings in Rio Tinto Group by 47.5% during the 4th quarter. Jeppson Wealth Management LLC now owns 20,093 shares of the mining company’s stock worth $1,182,000 after purchasing an additional 6,473 shares during the period. Finally, FSC Wealth Advisors LLC raised its position in Rio Tinto Group by 150.0% during the 4th quarter. FSC Wealth Advisors LLC now owns 1,000 shares of the mining company’s stock valued at $59,000 after purchasing an additional 600 shares in the last quarter. Hedge funds and other institutional investors own 19.33% of the company’s stock.

Rio Tinto Group Price Performance

Shares of RIO opened at $59.64 on Thursday. The company has a 50 day moving average of $60.96 and a two-hundred day moving average of $63.21. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.16 and a current ratio of 1.70. Rio Tinto Group has a twelve month low of $57.85 and a twelve month high of $74.24.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. Berenberg Bank upgraded Rio Tinto Group from a “hold” rating to a “buy” rating in a research note on Wednesday, October 2nd. StockNews.com lowered shares of Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a report on Saturday, January 25th. Macquarie reissued a “neutral” rating on shares of Rio Tinto Group in a report on Wednesday, October 16th. Finally, Jefferies Financial Group lowered their target price on Rio Tinto Group from $83.00 to $73.00 and set a “buy” rating for the company in a report on Monday, January 6th. Four analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $73.00.

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.