Aegis Wealth Management LLC Purchases New Position in Rio Tinto Group (NYSE:RIO)

Aegis Wealth Management LLC purchased a new stake in Rio Tinto Group (NYSE:RIO - Free Report) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 10,000 shares of the mining company's stock, valued at approximately $588,000.

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

Rio Tinto Group Price Performance

RIO stock traded down $0.76 during midday trading on Friday, reaching $59.44. The company had a trading volume of 6,655,252 shares, compared to its average volume of 2,887,956. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.63 and a quick ratio of 1.16. Rio Tinto Group has a 1-year low of $51.67 and a 1-year high of $72.08. The company has a market capitalization of $74.54 billion, a price-to-earnings ratio of 9.22, a price-to-earnings-growth ratio of 0.42 and a beta of 0.73. The stock has a 50 day moving average price of $59.47 and a 200-day moving average price of $60.80.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on RIO shares. Wall Street Zen cut Rio Tinto Group from a "strong-buy" rating to a "buy" rating in a research report on Monday, April 28th. Morgan Stanley cut shares of Rio Tinto Group from an "overweight" rating to an "equal weight" rating in a research note on Wednesday, April 9th. Barclays reiterated an "overweight" rating on shares of Rio Tinto Group in a report on Wednesday, April 16th. JPMorgan Chase & Co. started coverage on shares of Rio Tinto Group in a report on Tuesday, March 18th. They issued an "overweight" rating on the stock. Finally, Clarkson Capital raised Rio Tinto Group to a "strong-buy" rating in a research report on Friday, February 28th. Three investment analysts have rated the stock with a hold rating, six have given a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "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.