Walker Asset Management LLC Has $243,000 Stock Position in Rio Tinto Group (NYSE:RIO)

Walker Asset Management LLC grew its stake in shares of Rio Tinto Group (NYSE:RIO) by 13.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,126 shares of the mining company’s stock after acquiring an additional 500 shares during the period. Walker Asset Management LLC’s holdings in Rio Tinto Group were worth $243,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Bank of Montreal Can lifted its holdings in Rio Tinto Group by 237.0% during the 2nd quarter. Bank of Montreal Can now owns 2,472,471 shares of the mining company’s stock worth $164,493,000 after purchasing an additional 1,738,752 shares during the last quarter. Philip James Wealth Mangement LLC bought a new position in Rio Tinto Group during the 3rd quarter worth $1,345,000. Fisher Asset Management LLC lifted its holdings in shares of Rio Tinto Group by 2.9% during the third quarter. Fisher Asset Management LLC now owns 17,528,095 shares of the mining company’s stock worth $1,247,475,000 after buying an additional 485,731 shares in the last quarter. Barclays PLC boosted its position in shares of Rio Tinto Group by 225.6% in the third quarter. Barclays PLC now owns 335,637 shares of the mining company’s stock valued at $23,888,000 after acquiring an additional 232,539 shares during the period. Finally, Northwest Bancshares Inc. acquired a new position in shares of Rio Tinto Group in the third quarter valued at about $1,440,000. Institutional investors own 19.33% of the company’s stock.

Rio Tinto Group Price Performance

Shares of RIO opened at $61.00 on Friday. The firm has a 50 day simple moving average of $61.05 and a two-hundred day simple moving average of $63.61. Rio Tinto Group has a one year low of $57.85 and a one year high of $74.24. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.16 and a current ratio of 1.70.

Analyst Ratings Changes

Several analysts have weighed in on the stock. StockNews.com upgraded shares of Rio Tinto Group from a “buy” rating to a “strong-buy” rating in a research note on Friday. Jefferies Financial Group cut their price target on Rio Tinto Group from $83.00 to $73.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Berenberg Bank upgraded Rio Tinto Group from a “hold” rating to a “buy” rating in a research note on Wednesday, October 2nd. Finally, Macquarie reiterated a “neutral” rating on shares of Rio Tinto Group in a research report on Wednesday, October 16th. 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 stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average 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.