8,036 Shares in Rio Tinto Group (NYSE:RIO) Bought by Miracle Mile Advisors LLC

Miracle Mile Advisors LLC purchased a new position in Rio Tinto Group (NYSE:RIOFree Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 8,036 shares of the mining company’s stock, valued at approximately $473,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of RIO. Bank of Montreal Can raised its position in shares of Rio Tinto Group by 237.0% during the 2nd quarter. Bank of Montreal Can now owns 2,472,471 shares of the mining company’s stock valued at $164,493,000 after purchasing an additional 1,738,752 shares during the period. Fisher Asset Management LLC increased its stake in Rio Tinto Group by 2.9% in the 3rd quarter. Fisher Asset Management LLC now owns 17,528,095 shares of the mining company’s stock worth $1,247,475,000 after buying an additional 485,731 shares in the last quarter. Mediolanum International Funds Ltd bought a new stake in Rio Tinto Group during the third quarter valued at about $33,590,000. SPX Gestao de Recursos Ltda raised its holdings 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 acquiring an additional 404,131 shares during the period. Finally, Dimensional Fund Advisors LP lifted its position in shares of Rio Tinto Group by 78.3% in the second quarter. Dimensional Fund Advisors LP now owns 858,050 shares of the mining company’s stock valued at $56,565,000 after acquiring an additional 376,778 shares in the last quarter. Hedge funds and other institutional investors own 19.33% of the company’s stock.

Rio Tinto Group Stock Performance

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

Analysts Set New Price Targets

Several analysts recently issued reports on the company. StockNews.com cut Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, November 12th. Berenberg Bank upgraded shares of Rio Tinto Group from a “hold” rating to a “buy” rating in a research report on Wednesday, October 2nd. Jefferies Financial Group dropped their target price on shares of 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. Finally, Macquarie reiterated a “neutral” rating on shares of Rio Tinto Group in a research note on Wednesday, October 16th. Four research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $73.00.

Read Our Latest Analysis on RIO

About Rio Tinto Group

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Rio Tinto Group (NYSE:RIO)

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