Americana Partners LLC Invests $291,000 in Rio Tinto Group (NYSE:RIO)

Americana Partners LLC purchased a new position in Rio Tinto Group (NYSE:RIO) during the 4th quarter, Holdings Channel.com reports. The institutional investor purchased 4,946 shares of the mining company’s stock, valued at approximately $291,000.

Several other hedge funds and other institutional investors have also made changes to their positions in RIO. Winch Advisory Services LLC bought a new position in shares of Rio Tinto Group in the 3rd quarter worth $26,000. FSC Wealth Advisors LLC acquired a new stake in Rio Tinto Group during the 3rd quarter worth $28,000. Thurston Springer Miller Herd & Titak Inc. raised its stake in 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 worth $29,000 after buying an additional 195 shares during the period. Northwest Investment Counselors LLC acquired a new stake in Rio Tinto Group during the 3rd quarter worth $38,000. Finally, Golden State Wealth Management LLC acquired a new stake in Rio Tinto Group during the 4th quarter worth $47,000. 19.33% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. Jefferies Financial Group dropped their price objective on 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 raised Rio Tinto Group from a “buy” rating to a “strong-buy” rating in a research note on Friday, February 14th. Four research analysts have rated the stock with a hold rating, three have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $73.00.

Rio Tinto Group Stock Performance

RIO opened at $64.21 on Wednesday. The business’s 50-day moving average price is $60.62 and its two-hundred day moving average price is $62.92. Rio Tinto Group has a 1 year low of $57.85 and a 1 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.

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.