Rio Tinto Group (NYSE:RIO) Stock Holdings Increased by CNB Bank

CNB Bank boosted its stake in shares of Rio Tinto Group (NYSE:RIO) by 100.0% during the fourth quarter, HoldingsChannel.com reports. The firm owned 2,000 shares of the mining company’s stock after acquiring an additional 1,000 shares during the period. CNB Bank’s holdings in Rio Tinto Group were worth $118,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in RIO. Winch Advisory Services LLC purchased a new position in shares of Rio Tinto Group during the 3rd quarter valued at $26,000. FSC Wealth Advisors LLC acquired a new stake in Rio Tinto Group during the third quarter valued at $28,000. Thurston Springer Miller Herd & Titak Inc. boosted its position in Rio Tinto Group by 63.9% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 500 shares of the mining company’s stock valued at $29,000 after purchasing an additional 195 shares during the last quarter. Sound Income Strategies LLC increased its position in Rio Tinto Group by 70.9% in the 3rd quarter. Sound Income Strategies LLC now owns 417 shares of the mining company’s stock worth $30,000 after purchasing an additional 173 shares during the last quarter. Finally, Northwest Investment Counselors LLC acquired a new position in Rio Tinto Group in the 3rd quarter worth about $38,000. Institutional investors and hedge funds own 19.33% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on RIO shares. Macquarie reissued a “neutral” rating on shares of Rio Tinto Group in a research note on Wednesday, October 16th. Jefferies Financial Group dropped their price target 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. StockNews.com lowered shares of Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, November 12th. Finally, Berenberg Bank raised shares of Rio Tinto Group from a “hold” rating to a “buy” rating in a research report on Wednesday, October 2nd. Four investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $73.00.

Rio Tinto Group Stock Performance

NYSE:RIO opened at $61.37 on Friday. The company’s 50 day moving average is $61.20 and its 200-day moving average is $63.64. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.70 and a quick ratio of 1.16. Rio Tinto Group has a 12 month low of $57.85 and a 12 month high of $74.24.

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.