Brooklyn Investment Group Buys 883 Shares of Rio Tinto Group (NYSE:RIO)

Brooklyn Investment Group boosted its position in shares of Rio Tinto Group (NYSE:RIO) by 467.2% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,072 shares of the mining company’s stock after buying an additional 883 shares during the quarter. Brooklyn Investment Group’s holdings in Rio Tinto Group were worth $63,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in RIO. Walker Asset Management LLC boosted its holdings in Rio Tinto Group by 13.8% in the fourth quarter. Walker Asset Management LLC now owns 4,126 shares of the mining company’s stock valued at $243,000 after acquiring an additional 500 shares in the last quarter. CNB Bank boosted its holdings in shares of Rio Tinto Group by 100.0% during the 4th quarter. CNB Bank now owns 2,000 shares of the mining company’s stock valued at $118,000 after buying an additional 1,000 shares in the last quarter. Empirical Asset Management LLC purchased a new stake in shares of Rio Tinto Group in the 4th quarter worth about $1,600,000. Cohen Investment Advisors LLC increased its stake in shares of Rio Tinto Group by 3.8% in the 4th quarter. Cohen Investment Advisors LLC now owns 5,352 shares of the mining company’s stock worth $315,000 after acquiring an additional 198 shares in the last quarter. Finally, Ritholtz Wealth Management lifted its position in Rio Tinto Group by 20.1% during the 4th quarter. Ritholtz Wealth Management now owns 75,132 shares of the mining company’s stock valued at $4,419,000 after acquiring an additional 12,557 shares during the period. Hedge funds and other institutional investors own 19.33% of the company’s stock.

Rio Tinto Group Price Performance

RIO stock opened at $61.00 on Monday. The stock’s 50 day simple moving average is $60.98 and its 200 day simple moving average is $63.56. The company has a quick ratio of 1.16, a current ratio of 1.70 and a debt-to-equity ratio of 0.23. Rio Tinto Group has a 12-month low of $57.85 and a 12-month high of $74.24.

Analyst Ratings Changes

A number of brokerages have weighed in on RIO. StockNews.com raised shares of Rio Tinto Group from a “buy” rating to a “strong-buy” rating in a research note on Friday. Macquarie reaffirmed a “neutral” rating on shares of Rio Tinto Group in a research report on Wednesday, October 16th. Berenberg Bank upgraded Rio Tinto Group from a “hold” rating to a “buy” rating in a research note on Wednesday, October 2nd. Finally, Jefferies Financial Group cut their target price on Rio Tinto Group from $83.00 to $73.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. Four analysts have rated the stock with a hold rating, three have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $73.00.

About Rio Tinto Group

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.