Bell Bank Grows Stake in Rio Tinto Group (NYSE:RIO)

Bell Bank boosted its stake in shares of Rio Tinto Group (NYSE:RIO) by 18.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 142,231 shares of the mining company’s stock after acquiring an additional 22,168 shares during the quarter. Rio Tinto Group comprises about 0.6% of Bell Bank’s investment portfolio, making the stock its 29th biggest position. Bell Bank’s holdings in Rio Tinto Group were worth $8,365,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Fisher Asset Management LLC increased its position in shares of Rio Tinto Group by 2.9% during the 3rd quarter. Fisher Asset Management LLC now owns 17,528,095 shares of the mining company’s stock valued at $1,247,475,000 after purchasing an additional 485,731 shares during the last quarter. FMR LLC boosted its stake in Rio Tinto Group by 35.1% during the third quarter. FMR LLC now owns 1,381,766 shares of the mining company’s stock worth $98,340,000 after buying an additional 358,630 shares during the period. Palliser Capital UK Ltd increased its position in Rio Tinto Group by 213.8% during the fourth quarter. Palliser Capital UK Ltd now owns 989,417 shares of the mining company’s stock valued at $58,188,000 after acquiring an additional 674,117 shares during the last quarter. Van ECK Associates Corp raised its stake in shares of Rio Tinto Group by 10.7% in the third quarter. Van ECK Associates Corp now owns 693,102 shares of the mining company’s stock valued at $49,328,000 after acquiring an additional 67,213 shares during the period. Finally, Mediolanum International Funds Ltd bought a new stake in shares of Rio Tinto Group in the 3rd quarter worth about $33,590,000. 19.33% of the stock is currently owned by hedge funds and other institutional investors.

Rio Tinto Group Stock Down 1.3 %

NYSE RIO opened at $63.43 on Friday. Rio Tinto Group has a 12 month low of $57.85 and a 12 month high of $74.24. The company’s 50-day moving average price is $60.61 and its 200-day moving average price is $62.94. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.16 and a current ratio of 1.63.

Analysts Set New Price Targets

Several brokerages recently commented on RIO. Jefferies Financial Group cut 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 report on Monday, January 6th. StockNews.com lowered Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a research report on Saturday. Four 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’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average 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.