Comprehensive Money Management Services LLC Invests $270,000 in Rio Tinto Group (NYSE:RIO)

Comprehensive Money Management Services LLC acquired a new stake in shares of Rio Tinto Group (NYSE:RIO - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 4,593 shares of the mining company's stock, valued at approximately $270,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Brucke Financial Inc. purchased a new stake in shares of Rio Tinto Group in the 4th quarter worth about $272,000. Ameriflex Group Inc. bought a new position in Rio Tinto Group in the 4th quarter worth about $47,000. WNY Asset Management LLC boosted its stake in Rio Tinto Group by 2.8% in the 4th quarter. WNY Asset Management LLC now owns 8,255 shares of the mining company's stock worth $485,000 after purchasing an additional 225 shares in the last quarter. Forum Financial Management LP boosted its stake in Rio Tinto Group by 93.8% in the 4th quarter. Forum Financial Management LP now owns 8,299 shares of the mining company's stock worth $488,000 after purchasing an additional 4,017 shares in the last quarter. Finally, Parr Mcknight Wealth Management Group LLC bought a new position in Rio Tinto Group in the 4th quarter worth about $1,391,000. 19.33% of the stock is owned by hedge funds and other institutional investors.

Rio Tinto Group Stock Performance

RIO traded down $0.76 during midday trading on Friday, hitting $59.44. 6,655,252 shares of the company traded hands, compared to its average volume of 2,887,956. The company's 50-day moving average is $59.47 and its 200 day moving average is $60.80. Rio Tinto Group has a 52 week low of $51.67 and a 52 week high of $72.08. The company has a quick ratio of 1.16, a current ratio of 1.63 and a debt-to-equity ratio of 0.23. The firm has a market capitalization of $74.54 billion, a PE ratio of 9.22, a price-to-earnings-growth ratio of 0.42 and a beta of 0.73.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on RIO shares. Clarkson Capital upgraded shares of Rio Tinto Group to a "strong-buy" rating in a research note on Friday, February 28th. JPMorgan Chase & Co. started coverage on shares of Rio Tinto Group in a research note on Tuesday, March 18th. They issued an "overweight" rating on the stock. DZ Bank upgraded shares of Rio Tinto Group from a "hold" rating to a "strong-buy" rating in a research note on Thursday, March 27th. Wall Street Zen cut shares of Rio Tinto Group from a "strong-buy" rating to a "buy" rating in a research note on Monday, April 28th. Finally, Barclays reiterated an "overweight" rating on shares of Rio Tinto Group in a research note on Wednesday, April 16th. Three 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. According to MarketBeat.com, the company currently has an average rating of "Buy" and an average target price of $73.00.

Rio Tinto Group 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.