Stonegate Investment Group LLC Has $401,000 Holdings in Rio Tinto Group (NYSE:RIO)

Stonegate Investment Group LLC increased its position in shares of Rio Tinto Group (NYSE:RIO) by 24.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,819 shares of the mining company’s stock after buying an additional 1,352 shares during the period. Stonegate Investment Group LLC’s holdings in Rio Tinto Group were worth $401,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Palliser Capital UK Ltd grew its position in shares of Rio Tinto Group by 213.8% in the 4th quarter. Palliser Capital UK Ltd now owns 989,417 shares of the mining company’s stock valued at $58,188,000 after acquiring an additional 674,117 shares during the period. Fisher Asset Management LLC lifted 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 valued at $1,247,475,000 after purchasing an additional 485,731 shares during the last quarter. Mediolanum International Funds Ltd bought a new position in Rio Tinto Group during the third quarter worth about $33,590,000. SPX Gestao de Recursos Ltda increased its position 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 worth $30,384,000 after buying an additional 404,131 shares during the last quarter. Finally, FMR LLC raised its stake in Rio Tinto Group by 35.1% in the third quarter. FMR LLC now owns 1,381,766 shares of the mining company’s stock valued at $98,340,000 after buying an additional 358,630 shares during the period. 19.33% of the stock is owned by institutional investors.

Rio Tinto Group Stock Performance

RIO opened at $59.84 on Wednesday. The stock has a fifty day moving average of $61.01 and a 200-day moving average of $63.28. Rio Tinto Group has a fifty-two week low of $57.85 and a fifty-two week high of $74.24. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.70 and a quick ratio of 1.16.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Berenberg Bank upgraded Rio Tinto Group from a “hold” rating to a “buy” rating in a research note on Wednesday, October 2nd. Macquarie reiterated a “neutral” rating on shares of Rio Tinto Group in a report on Wednesday, October 16th. Jefferies Financial Group cut 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 note on Monday, January 6th. Finally, StockNews.com downgraded shares of Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a report on Saturday. Four research 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 stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus 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.