Rio Tinto Group (NYSE:RIO) Stock Holdings Boosted by Gateway Investment Advisers LLC

Gateway Investment Advisers LLC raised its position in shares of Rio Tinto Group (NYSE:RIO) by 142.3% in the fourth quarter, HoldingsChannel.com reports. The firm owned 29,491 shares of the mining company’s stock after buying an additional 17,319 shares during the period. Gateway Investment Advisers LLC’s holdings in Rio Tinto Group were worth $1,734,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Winch Advisory Services LLC bought a new position in Rio Tinto Group during the 3rd quarter valued at $26,000. FSC Wealth Advisors LLC acquired a new stake in shares of 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 3rd quarter. Sound Income Strategies LLC now owns 417 shares of the mining company’s stock valued at $30,000 after acquiring an additional 173 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. lifted its position in shares of 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 valued at $29,000 after acquiring an additional 195 shares during the last quarter. Finally, Northwest Investment Counselors LLC acquired a new stake in shares of Rio Tinto Group during the 3rd quarter valued at $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 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 1 year low of $57.85 and a 1 year high of $74.24. The business has a fifty day simple moving average of $61.05 and a 200 day simple moving average of $63.61.

Analyst Ratings Changes

A number of brokerages have recently commented on RIO. Jefferies Financial Group cut their price objective 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. Macquarie reiterated a “neutral” rating on shares of Rio Tinto Group in a research report 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, Berenberg Bank upgraded Rio Tinto Group from a “hold” rating to a “buy” rating in a report on Wednesday, October 2nd. Four investment analysts have rated the stock with a hold rating, three have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $73.00.

About Rio Tinto Group

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.