Rio Tinto Group (NYSE:RIO) Shares Bought by Stephens Inc. AR

Stephens Inc. AR grew its stake in Rio Tinto Group (NYSE:RIO) by 3.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 55,673 shares of the mining company’s stock after buying an additional 1,980 shares during the period. Stephens Inc. AR’s holdings in Rio Tinto Group were worth $3,274,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Empowered Funds LLC increased its position in shares of Rio Tinto Group by 39.9% in the 4th quarter. Empowered Funds LLC now owns 4,992 shares of the mining company’s stock valued at $294,000 after acquiring an additional 1,425 shares during the period. Advisory Resource Group grew its stake in Rio Tinto Group by 4.0% during the 4th quarter. Advisory Resource Group now owns 17,479 shares of the mining company’s stock valued at $1,028,000 after purchasing an additional 667 shares during the last quarter. Forbes J M & Co. LLP increased its holdings in shares of Rio Tinto Group by 0.6% in the fourth quarter. Forbes J M & Co. LLP now owns 89,883 shares of the mining company’s stock valued at $5,286,000 after purchasing an additional 568 shares during the period. Wilmington Savings Fund Society FSB raised its stake in shares of Rio Tinto Group by 9.6% in the fourth quarter. Wilmington Savings Fund Society FSB now owns 3,349 shares of the mining company’s stock worth $197,000 after purchasing an additional 292 shares during the last quarter. Finally, Golden State Wealth Management LLC acquired a new stake in shares of Rio Tinto Group during the fourth quarter worth about $47,000. 19.33% of the stock is currently owned by institutional investors and hedge funds.

Rio Tinto Group Stock Performance

Shares of NYSE RIO opened at $62.23 on Tuesday. The company has a quick ratio of 1.16, a current ratio of 1.70 and a debt-to-equity ratio of 0.23. The firm’s 50 day simple moving average is $60.72 and its 200-day simple moving average is $62.99. Rio Tinto Group has a 12 month low of $57.85 and a 12 month high of $74.24.

Analysts Set New Price Targets

Several equities analysts recently weighed in on RIO shares. Macquarie reiterated a “neutral” rating on shares of Rio Tinto Group in a report on Wednesday, October 16th. Jefferies Financial Group cut their price objective on shares of Rio Tinto Group from $83.00 to $73.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. Finally, StockNews.com downgraded shares of Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a research report on Saturday, January 25th. Four equities research 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 company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus 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.