Oxbow Advisors LLC Purchases New Position in Rio Tinto Group (NYSE:RIO)

Oxbow Advisors LLC bought a new position in shares of Rio Tinto Group (NYSE:RIO) in the fourth quarter, Holdings Channel reports. The firm bought 60,418 shares of the mining company’s stock, valued at approximately $3,553,000.

Other large investors have also recently added to or reduced their stakes in the company. 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 worth $29,000 after purchasing an additional 195 shares during the period. Hara Capital LLC bought a new stake in Rio Tinto Group during the third quarter worth approximately $53,000. Golden State Wealth Management LLC bought a new stake in Rio Tinto Group during the fourth quarter worth approximately $47,000. Nisa Investment Advisors LLC boosted its position in Rio Tinto Group by 49.1% during the third quarter. Nisa Investment Advisors LLC now owns 820 shares of the mining company’s stock worth $58,000 after purchasing an additional 270 shares during the period. Finally, HHM Wealth Advisors LLC bought a new stake in Rio Tinto Group during the fourth quarter worth approximately $50,000. Institutional investors own 19.33% of the company’s stock.

Rio Tinto Group Price Performance

RIO opened at $63.43 on Friday. 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 1.63 and a quick ratio of 1.16. The business has a 50 day moving average of $60.61 and a 200-day moving average of $62.94.

Wall Street Analysts Forecast Growth

RIO has been the subject of a number of recent analyst reports. StockNews.com cut Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a research report on Saturday. Jefferies Financial Group reduced their price objective on Rio Tinto Group from $83.00 to $73.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Four investment analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Rio Tinto Group currently has an average rating of “Moderate Buy” and an average target price 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.