Parr Mcknight Wealth Management Group LLC Takes Position in Rio Tinto Group (NYSE:RIO)

Parr Mcknight Wealth Management Group LLC bought a new stake in shares of Rio Tinto Group (NYSE:RIO - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 23,649 shares of the mining company's stock, valued at approximately $1,391,000.

Several other institutional investors also recently bought and sold shares of the stock. Fisher Asset Management LLC increased its position in 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 buying an additional 76,368 shares during the period. Franklin Resources Inc. increased its position in shares of Rio Tinto Group by 1.4% during the fourth quarter. Franklin Resources Inc. now owns 5,115,476 shares of the mining company's stock valued at $300,841,000 after purchasing an additional 70,131 shares during the period. FMR LLC increased its position in shares of Rio Tinto Group by 24.6% during the fourth quarter. FMR LLC now owns 1,721,690 shares of the mining company's stock valued at $101,253,000 after purchasing an additional 339,924 shares during the period. Northern Trust Corp increased its position in shares of Rio Tinto Group by 18.9% during the fourth quarter. Northern Trust Corp now owns 1,603,037 shares of the mining company's stock valued at $94,275,000 after purchasing an additional 255,151 shares during the period. Finally, Deutsche Bank AG increased its position 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 period. 19.33% of the stock is currently owned by institutional investors.

Rio Tinto Group Price Performance

Rio Tinto Group stock traded up $0.32 on Thursday, reaching $60.27. The company's stock had a trading volume of 2,350,554 shares, compared to its average volume of 2,864,989. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.16 and a current ratio of 1.63. Rio Tinto Group has a twelve month low of $51.67 and a twelve month high of $72.08. The company has a market cap of $75.58 billion, a price-to-earnings ratio of 9.34, a PEG ratio of 0.42 and a beta of 0.73. The business's fifty day moving average price is $59.51 and its 200 day moving average price is $60.82.

Wall Street Analysts Forecast Growth

Several analysts recently commented on RIO shares. Clarkson Capital raised Rio Tinto Group to a "strong-buy" rating in a research note on Friday, February 28th. Barclays reaffirmed an "overweight" rating on shares of Rio Tinto Group in a research note on Wednesday, April 16th. DZ Bank raised Rio Tinto Group from a "hold" rating to a "strong-buy" rating in a research note on Thursday, March 27th. Wall Street Zen lowered Rio Tinto Group from a "strong-buy" rating to a "buy" rating in a research note on Monday, April 28th. Finally, Morgan Stanley lowered Rio Tinto Group from an "overweight" rating to an "equal weight" rating in a research note on Wednesday, April 9th. Three analysts have rated the stock with a hold rating, six have issued a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Buy" and a consensus price target 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.