Newbridge Financial Services Group Inc. Makes New $59,000 Investment in Rio Tinto Group (NYSE:RIO)

Newbridge Financial Services Group Inc. bought a new stake in Rio Tinto Group (NYSE:RIO) in the fourth quarter, HoldingsChannel.com reports. The firm bought 997 shares of the mining company’s stock, valued at approximately $59,000.

A number of other institutional investors have also recently bought and sold shares of RIO. Palliser Capital UK Ltd grew its holdings in shares of Rio Tinto Group by 213.8% during the 4th quarter. Palliser Capital UK Ltd now owns 989,417 shares of the mining company’s stock worth $58,188,000 after purchasing an additional 674,117 shares in the last quarter. Fisher Asset Management LLC lifted its position in 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 purchasing an additional 485,731 shares during the period. Mediolanum International Funds Ltd acquired a new stake in Rio Tinto Group during the third quarter worth about $33,590,000. SPX Gestao de Recursos Ltda increased its holdings in Rio Tinto Group by 1,773.2% in the 3rd quarter. SPX Gestao de Recursos Ltda now owns 426,922 shares of the mining company’s stock valued at $30,384,000 after buying an additional 404,131 shares during the period. Finally, FMR LLC raised its position in shares of Rio Tinto Group by 35.1% in the 3rd quarter. FMR LLC now owns 1,381,766 shares of the mining company’s stock valued at $98,340,000 after buying an additional 358,630 shares in the last quarter. Institutional investors own 19.33% of the company’s stock.

Rio Tinto Group Trading Up 0.5 %

Shares of NYSE:RIO opened at $62.23 on Tuesday. The firm has a 50 day simple moving average of $60.72 and a 200 day simple moving average of $62.99. 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 current ratio of 1.70 and a quick ratio of 1.16.

Wall Street Analysts Forecast Growth

RIO has been the topic of several analyst reports. StockNews.com lowered shares of Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a research report on Saturday, January 25th. Jefferies Financial Group reduced their target price on Rio Tinto Group from $83.00 to $73.00 and set a “buy” rating on the stock in a report on Monday, January 6th. Finally, Macquarie reissued a “neutral” rating on shares of Rio Tinto Group in a report on Wednesday, October 16th. Four investment analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target 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.