Rio Tinto Group (NYSE:RIO) Stock Holdings Raised by Park Avenue Securities LLC

Park Avenue Securities LLC lifted its holdings in shares of Rio Tinto Group (NYSE:RIO) by 3.8% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 14,940 shares of the mining company’s stock after buying an additional 553 shares during the period. Park Avenue Securities LLC’s holdings in Rio Tinto Group were worth $898,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Deutsche Bank AG grew its position in Rio Tinto Group by 143,872.8% in the 4th quarter. Deutsche Bank AG now owns 1,264,081 shares of the mining company’s stock worth $74,341,000 after purchasing an additional 1,263,203 shares during the last quarter. Dynamo Internacional Gestao DE Recursos LTDA. lifted its stake in Rio Tinto Group by 119.2% during the fourth quarter. Dynamo Internacional Gestao DE Recursos LTDA. now owns 129,804 shares of the mining company’s stock valued at $2,423,000 after purchasing an additional 807,610 shares during the last quarter. Paloma Partners Management Co acquired a new stake in Rio Tinto Group during the fourth quarter valued at approximately $40,032,000. Raymond James Financial Inc. acquired a new stake in Rio Tinto Group during the fourth quarter valued at approximately $29,606,000. Finally, Ameriprise Financial Inc. lifted its position in shares of Rio Tinto Group by 169.4% in the 4th quarter. Ameriprise Financial Inc. now owns 619,494 shares of the mining company’s stock valued at $36,428,000 after acquiring an additional 389,531 shares in the last quarter. Institutional investors own 19.33% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on RIO shares. Morgan Stanley downgraded shares of Rio Tinto Group from an “overweight” rating to an “equal weight” rating in a research report on Wednesday, April 9th. Wall Street Zen downgraded shares of Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a research report on Monday, April 28th. JPMorgan Chase & Co. started coverage on shares of Rio Tinto Group in a research report on Tuesday, March 18th. They issued an “overweight” rating for the company. Clarkson Capital upgraded shares of Rio Tinto Group to a “strong-buy” rating in a research report on Friday, February 28th. Finally, Barclays restated an “overweight” rating on shares of Rio Tinto Group in a research report on Wednesday, April 16th. Four investment analysts have rated the stock with a hold rating, five have assigned a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $73.00.

Rio Tinto Group Stock Down 0.3%

RIO stock opened at $58.65 on Friday. Rio Tinto Group has a 12-month low of $51.67 and a 12-month high of $72.08. The company has a quick ratio of 1.16, a current ratio of 1.63 and a debt-to-equity ratio of 0.23. The company has a market cap of $73.55 billion, a price-to-earnings ratio of 9.09, a PEG ratio of 0.42 and a beta of 0.68. The company has a 50 day moving average of $59.35 and a two-hundred day moving average of $60.61.

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.