Wilmington Savings Fund Society FSB Grows Stock Holdings in Rio Tinto Group (NYSE:RIO)

Wilmington Savings Fund Society FSB increased its stake in shares of Rio Tinto Group (NYSE:RIO) by 9.6% in the 4th quarter, Holdings Channel reports. The firm owned 3,349 shares of the mining company’s stock after buying an additional 292 shares during the period. Wilmington Savings Fund Society FSB’s holdings in Rio Tinto Group were worth $197,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in RIO. Palliser Capital UK Ltd raised its holdings in shares of 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 purchasing an additional 674,117 shares during the last quarter. Fisher Asset Management LLC raised its holdings in shares of 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 last quarter. Mediolanum International Funds Ltd purchased a new position in shares of Rio Tinto Group during the third quarter valued at approximately $33,590,000. SPX Gestao de Recursos Ltda raised its holdings in shares of 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 last quarter. Finally, FMR LLC raised its holdings in shares of Rio Tinto Group by 35.1% during the third quarter. FMR LLC now owns 1,381,766 shares of the mining company’s stock valued at $98,340,000 after purchasing an additional 358,630 shares during the last quarter. 19.33% of the stock is owned by hedge funds and other institutional investors.

Rio Tinto Group Price Performance

Shares of NYSE RIO opened at $62.02 on Thursday. The firm has a fifty day moving average price of $60.66 and a 200-day moving average price of $62.96. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.70 and a quick ratio of 1.16. Rio Tinto Group has a 1 year low of $57.85 and a 1 year high of $74.24.

Analyst Ratings Changes

A number of brokerages have commented on RIO. Jefferies Financial Group reduced 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 report on Monday, January 6th. StockNews.com cut shares of Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a report on Saturday, January 25th. Finally, Macquarie reaffirmed a “neutral” rating on shares of Rio Tinto Group in a report on Wednesday, October 16th. Four investment analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target 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.