Empirical Asset Management LLC Acquires New Holdings in Rio Tinto Group (NYSE:RIO)

Empirical Asset Management LLC bought a new stake in shares of Rio Tinto Group (NYSE:RIO) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund bought 27,199 shares of the mining company’s stock, valued at approximately $1,600,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Armstrong Advisory Group Inc. boosted its position in shares of Rio Tinto Group by 9.6% during the third quarter. Armstrong Advisory Group Inc. now owns 1,808 shares of the mining company’s stock worth $129,000 after buying an additional 159 shares during the period. Sound Income Strategies LLC boosted its position in Rio Tinto Group by 70.9% during the 3rd quarter. Sound Income Strategies LLC now owns 417 shares of the mining company’s stock worth $30,000 after acquiring an additional 173 shares during the period. Concurrent Investment Advisors LLC boosted its position in Rio Tinto Group by 4.3% during the 3rd quarter. Concurrent Investment Advisors LLC now owns 4,261 shares of the mining company’s stock worth $303,000 after acquiring an additional 175 shares during the period. Fiduciary Financial Group LLC grew its stake in shares of Rio Tinto Group by 3.7% in the third quarter. Fiduciary Financial Group LLC now owns 4,945 shares of the mining company’s stock worth $330,000 after purchasing an additional 178 shares in the last quarter. Finally, Evergreen Capital Management LLC increased its holdings in shares of Rio Tinto Group by 1.2% during the second quarter. Evergreen Capital Management LLC now owns 15,515 shares of the mining company’s stock valued at $1,023,000 after purchasing an additional 179 shares during the period. Institutional investors own 19.33% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. Jefferies Financial Group decreased 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. Macquarie reiterated a “neutral” rating on shares of Rio Tinto Group in a report on Wednesday, October 16th. StockNews.com raised Rio Tinto Group from a “buy” rating to a “strong-buy” rating in a report on Friday. Finally, Berenberg Bank raised Rio Tinto Group from a “hold” rating to a “buy” rating in a research note on Wednesday, October 2nd. Four equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $73.00.

Rio Tinto Group Stock Up 2.0 %

NYSE RIO opened at $61.00 on Friday. The company has a current ratio of 1.70, a quick ratio of 1.16 and a debt-to-equity ratio of 0.23. Rio Tinto Group has a 12 month low of $57.85 and a 12 month high of $74.24. The company’s 50 day simple moving average is $61.05 and its 200 day simple moving average is $63.61.

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.