Hilltop National Bank Raises Stock Holdings in Rio Tinto Group (NYSE:RIO)

Hilltop National Bank increased its stake in shares of Rio Tinto Group (NYSE:RIO) by 295.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,166 shares of the mining company’s stock after purchasing an additional 871 shares during the quarter. Hilltop National Bank’s holdings in Rio Tinto Group were worth $69,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Armstrong Advisory Group Inc. raised its stake in Rio Tinto Group by 9.6% in the third quarter. Armstrong Advisory Group Inc. now owns 1,808 shares of the mining company’s stock valued at $129,000 after buying an additional 159 shares during the last quarter. Sound Income Strategies LLC increased its holdings in shares of Rio Tinto Group by 70.9% in the third quarter. Sound Income Strategies LLC now owns 417 shares of the mining company’s stock valued at $30,000 after purchasing an additional 173 shares during the period. Concurrent Investment Advisors LLC grew its holdings in Rio Tinto Group by 4.3% during the third 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 holdings in Rio Tinto Group by 3.7% during the third quarter. Fiduciary Financial Group LLC now owns 4,945 shares of the mining company’s stock worth $330,000 after acquiring an additional 178 shares during the period. Finally, Evergreen Capital Management LLC grew its holdings in 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 worth $1,023,000 after acquiring an additional 179 shares during the period. 19.33% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts recently commented on RIO shares. Berenberg Bank raised Rio Tinto Group from a “hold” rating to a “buy” rating in a report on Wednesday, October 2nd. StockNews.com downgraded Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, November 12th. Jefferies Financial Group lowered their price target on Rio Tinto Group from $83.00 to $73.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. Finally, Macquarie reiterated a “neutral” rating on shares of Rio Tinto Group in a research report on Wednesday, October 16th. Four investment analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $73.00.

Rio Tinto Group Stock Performance

NYSE RIO opened at $58.91 on Friday. The stock’s fifty day moving average is $61.51 and its two-hundred day moving average is $63.79. The firm has a market capitalization of $73.81 billion, a P/E ratio of 8.55, a price-to-earnings-growth ratio of 0.38 and a beta of 0.66. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.16 and a current ratio of 1.70. Rio Tinto Group has a fifty-two week low of $57.85 and a fifty-two week high of $74.24.

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.