Rio Tinto Group (NYSE:RIO) Shares Bought by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC boosted its stake in shares of Rio Tinto Group (NYSE:RIO - Free Report) by 58.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 95,205 shares of the mining company's stock after purchasing an additional 35,272 shares during the period. Wealth Enhancement Advisory Services LLC's holdings in Rio Tinto Group were worth $5,599,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of RIO. XTX Topco Ltd purchased a new position in shares of Rio Tinto Group in the 4th quarter valued at $1,241,000. Rossby Financial LCC purchased a new position in shares of Rio Tinto Group in the 4th quarter valued at $360,000. Schroder Investment Management Group raised its stake in shares of Rio Tinto Group by 3.2% in the 4th quarter. Schroder Investment Management Group now owns 32,258 shares of the mining company's stock valued at $1,890,000 after acquiring an additional 1,009 shares during the period. Norges Bank purchased a new position in shares of Rio Tinto Group in the 4th quarter valued at $432,000. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Rio Tinto Group by 28.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 81,888 shares of the mining company's stock valued at $4,816,000 after acquiring an additional 18,179 shares during the period. Hedge funds and other institutional investors own 19.33% of the company's stock.

Analyst Ratings Changes

A number of brokerages have recently commented on RIO. Wall Street Zen downgraded shares of Rio Tinto Group from a "strong-buy" rating to a "buy" rating in a research note on Monday, April 28th. Jefferies Financial Group reaffirmed a "hold" rating on shares of Rio Tinto Group in a report on Tuesday. Clarkson Capital raised shares of Rio Tinto Group to a "strong-buy" rating in a report on Friday, February 28th. DZ Bank raised shares of Rio Tinto Group from a "hold" rating to a "strong-buy" rating in a report on Thursday, March 27th. Finally, Barclays reaffirmed an "overweight" rating on shares of Rio Tinto Group in a report on Wednesday, April 16th. Four analysts have rated the stock with a hold rating, five have issued a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $73.00.

Rio Tinto Group Stock Down 0.4%

RIO stock traded down $0.21 during mid-day trading on Friday, hitting $59.03. 2,490,603 shares of the company were exchanged, compared to its average volume of 2,915,663. The company has a market capitalization of $74.03 billion, a PE ratio of 9.15, a price-to-earnings-growth ratio of 0.42 and a beta of 0.68. The company has a current ratio of 1.63, a quick ratio of 1.16 and a debt-to-equity ratio of 0.23. Rio Tinto Group has a twelve month low of $51.67 and a twelve month high of $72.08. The firm has a fifty day simple moving average of $59.17 and a 200 day simple moving average of $60.71.

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.