Gilman Hill Asset Management LLC Acquires 4,470 Shares of Rio Tinto Group (NYSE:RIO)

Gilman Hill Asset Management LLC boosted its stake in Rio Tinto Group (NYSE:RIO - Free Report) by 6.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 69,757 shares of the mining company's stock after acquiring an additional 4,470 shares during the period. Gilman Hill Asset Management LLC's holdings in Rio Tinto Group were worth $4,191,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Fisher Asset Management LLC lifted its position in shares of Rio Tinto Group by 0.4% in the 4th quarter. Fisher Asset Management LLC now owns 17,604,463 shares of the mining company's stock worth $1,035,319,000 after purchasing an additional 76,368 shares during the period. Franklin Resources Inc. raised its stake in Rio Tinto Group by 1.4% in the fourth quarter. Franklin Resources Inc. now owns 5,115,476 shares of the mining company's stock worth $300,841,000 after buying an additional 70,131 shares in the last quarter. FMR LLC lifted its holdings in Rio Tinto Group by 24.6% in the fourth quarter. FMR LLC now owns 1,721,690 shares of the mining company's stock worth $101,253,000 after buying an additional 339,924 shares during the period. Northern Trust Corp boosted its position in Rio Tinto Group by 18.9% during the 4th quarter. Northern Trust Corp now owns 1,603,037 shares of the mining company's stock valued at $94,275,000 after acquiring an additional 255,151 shares in the last quarter. Finally, Deutsche Bank AG boosted its position in Rio Tinto Group by 143,872.8% during the 4th quarter. Deutsche Bank AG now owns 1,264,081 shares of the mining company's stock valued at $74,341,000 after acquiring an additional 1,263,203 shares in the last quarter. 19.33% of the stock is owned by hedge funds and other institutional investors.

Rio Tinto Group Stock Down 0.4%

Shares of RIO traded down $0.21 during trading hours on Friday, hitting $59.03. The company had a trading volume of 2,490,603 shares, compared to its average volume of 2,909,532. The stock has a market capitalization of $74.03 billion, a price-to-earnings ratio of 9.15, a P/E/G ratio of 0.42 and a beta of 0.68. The firm has a fifty day moving average price of $59.20 and a 200-day moving average price of $60.73. Rio Tinto Group has a 52-week low of $51.67 and a 52-week high of $72.08. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.16 and a current ratio of 1.63.

Analysts Set New Price Targets

RIO has been the subject of several research reports. JPMorgan Chase & Co. initiated coverage on Rio Tinto Group in a research report on Tuesday, March 18th. They issued an "overweight" rating for the company. Clarkson Capital upgraded Rio Tinto Group to a "strong-buy" rating in a report on Friday, February 28th. Jefferies Financial Group restated a "hold" rating on shares of Rio Tinto Group in a report on Tuesday. Barclays reaffirmed an "overweight" rating on shares of Rio Tinto Group in a research report on Wednesday, April 16th. Finally, Morgan Stanley cut shares of Rio Tinto Group from an "overweight" rating to an "equal weight" rating in a research report on Wednesday, April 9th. Four research analysts have rated the stock with a hold rating, five have assigned a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Rio Tinto Group presently has a consensus rating of "Moderate Buy" and a consensus price target 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.