Forbes J M & Co. LLP Grows Holdings in Rio Tinto Group (NYSE:RIO)

Forbes J M & Co. LLP grew its position in Rio Tinto Group (NYSE:RIO) by 0.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 89,883 shares of the mining company’s stock after purchasing an additional 568 shares during the quarter. Forbes J M & Co. LLP’s holdings in Rio Tinto Group were worth $5,286,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. 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 purchased a new position in shares of Rio Tinto Group in the third quarter valued at about $28,000. Thurston Springer Miller Herd & Titak Inc. boosted its stake in shares of Rio Tinto Group by 63.9% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 500 shares of the mining company’s stock worth $29,000 after acquiring an additional 195 shares during the period. Sound Income Strategies LLC grew its position in shares of Rio Tinto Group by 70.9% during the third quarter. Sound Income Strategies LLC now owns 417 shares of the mining company’s stock worth $30,000 after purchasing an additional 173 shares in the last quarter. Finally, Northwest Investment Counselors LLC bought a new stake in Rio Tinto Group during the 3rd quarter valued at approximately $38,000. 19.33% of the stock is owned by hedge funds and other institutional investors.

Rio Tinto Group Stock Down 0.4 %

Shares of RIO stock opened at $61.96 on Friday. 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 stock’s 50 day simple moving average is $60.72 and its two-hundred day simple moving average is $63.00. Rio Tinto Group has a 1 year low of $57.85 and a 1 year high of $74.24.

Analyst Ratings Changes

RIO has been the subject of several recent analyst reports. Jefferies Financial Group dropped their price target on Rio Tinto Group from $83.00 to $73.00 and set a “buy” rating for the company in a research note on Monday, January 6th. StockNews.com cut shares of Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a research note on Saturday, January 25th. Finally, Macquarie restated a “neutral” rating on shares of Rio Tinto Group in a research report on Wednesday, October 16th. 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. According to data from MarketBeat, Rio Tinto Group has a consensus rating of “Moderate Buy” and an average target price of $73.00.

About Rio Tinto Group

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.