Naples Global Advisors LLC Buys 3,461 Shares of Rio Tinto Group (NYSE:RIO)

Naples Global Advisors LLC lifted its stake in shares of Rio Tinto Group (NYSE:RIO) by 3.6% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 100,098 shares of the mining company’s stock after purchasing an additional 3,461 shares during the quarter. Naples Global Advisors LLC’s holdings in Rio Tinto Group were worth $5,887,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of RIO. Concurrent Investment Advisors LLC increased its stake in Rio Tinto Group by 4.3% in the third quarter. Concurrent Investment Advisors LLC now owns 4,261 shares of the mining company’s stock valued at $303,000 after acquiring an additional 175 shares during the last quarter. Stonegate Investment Group LLC boosted its holdings in shares of Rio Tinto Group by 3.4% in the 3rd quarter. Stonegate Investment Group LLC now owns 5,467 shares of the mining company’s stock valued at $389,000 after purchasing an additional 179 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. increased its stake in shares of Rio Tinto Group by 63.9% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 500 shares of the mining company’s stock valued at $29,000 after purchasing an additional 195 shares during the last quarter. Cohen Investment Advisors LLC raised its holdings in shares of Rio Tinto Group by 3.8% during the 4th quarter. Cohen Investment Advisors LLC now owns 5,352 shares of the mining company’s stock worth $315,000 after buying an additional 198 shares in the last quarter. Finally, Mount Yale Investment Advisors LLC lifted its position in shares of Rio Tinto Group by 2.0% during the 4th quarter. Mount Yale Investment Advisors LLC now owns 10,191 shares of the mining company’s stock worth $599,000 after buying an additional 200 shares during the last quarter. Institutional investors own 19.33% of the company’s stock.

Rio Tinto Group Stock Up 0.6 %

NYSE:RIO opened at $62.02 on Thursday. Rio Tinto Group has a one year low of $57.85 and a one year high of $74.24. The company has a current ratio of 1.70, a quick ratio of 1.16 and a debt-to-equity ratio of 0.23. The firm’s 50 day simple moving average is $60.66 and its 200 day simple moving average is $62.96.

Wall Street Analyst Weigh In

Several research analysts have commented on RIO shares. StockNews.com downgraded Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a research note on Saturday, January 25th. Jefferies Financial Group dropped their price objective 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, Macquarie reaffirmed a “neutral” rating on shares of Rio Tinto Group in a research note on Wednesday, October 16th. Four investment analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price 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.