Accurate Wealth Management LLC Acquires 1,757 Shares of Rio Tinto Group (NYSE:RIO)

Accurate Wealth Management LLC increased its position in Rio Tinto Group (NYSE:RIO) by 15.1% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 13,395 shares of the mining company’s stock after purchasing an additional 1,757 shares during the period. Accurate Wealth Management LLC’s holdings in Rio Tinto Group were worth $788,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in RIO. Bank of Montreal Can lifted its position in shares of Rio Tinto Group by 237.0% in the second quarter. Bank of Montreal Can now owns 2,472,471 shares of the mining company’s stock worth $164,493,000 after buying an additional 1,738,752 shares in the last quarter. Fisher Asset Management LLC raised 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 valued at $1,247,475,000 after purchasing an additional 485,731 shares during the period. Mediolanum International Funds Ltd purchased a new stake in Rio Tinto Group during the third quarter valued at approximately $33,590,000. SPX Gestao de Recursos Ltda raised its position in Rio Tinto Group by 1,773.2% during the third quarter. SPX Gestao de Recursos Ltda now owns 426,922 shares of the mining company’s stock valued at $30,384,000 after purchasing an additional 404,131 shares during the period. Finally, Dimensional Fund Advisors LP raised its position in Rio Tinto Group by 78.3% during the second quarter. Dimensional Fund Advisors LP now owns 858,050 shares of the mining company’s stock valued at $56,565,000 after purchasing an additional 376,778 shares during the period. 19.33% of the stock is currently owned by hedge funds and other institutional investors.

Rio Tinto Group Trading Up 0.2 %

Shares of NYSE RIO opened at $60.48 on Thursday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.16 and a current ratio of 1.70. The business’s 50 day moving average price is $61.30 and its 200-day moving average price is $63.66. Rio Tinto Group has a fifty-two week low of $57.85 and a fifty-two week high of $74.24. The company has a market cap of $75.78 billion, a price-to-earnings ratio of 8.78, a PEG ratio of 0.38 and a beta of 0.66.

Analyst Upgrades and Downgrades

RIO has been the topic of a number of recent research reports. Berenberg Bank upgraded Rio Tinto Group from a “hold” rating to a “buy” rating in a research report on Wednesday, October 2nd. Macquarie restated a “neutral” rating on shares of Rio Tinto Group in a research report on Wednesday, October 16th. Jefferies Financial Group decreased their price objective on Rio Tinto Group from $83.00 to $73.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. Finally, StockNews.com downgraded Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, November 12th. Four analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Rio Tinto Group presently has a consensus rating of “Moderate Buy” and an average target price 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.