Walker Asset Management LLC Has $243,000 Position in Rio Tinto Group (NYSE:RIO)

Walker Asset Management LLC increased its stake in shares of Rio Tinto Group (NYSE:RIO) by 13.8% in the fourth quarter, Holdings Channel.com reports. The firm owned 4,126 shares of the mining company’s stock after buying an additional 500 shares during the quarter. Walker Asset Management LLC’s holdings in Rio Tinto Group were worth $243,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in RIO. Winch Advisory Services LLC acquired a new stake in shares of Rio Tinto Group during the third quarter valued at about $26,000. FSC Wealth Advisors LLC acquired a new stake in Rio Tinto Group during the 3rd quarter worth approximately $28,000. Thurston Springer Miller Herd & Titak Inc. grew its holdings in Rio Tinto Group by 63.9% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 500 shares of the mining company’s stock worth $29,000 after acquiring an additional 195 shares during the last quarter. Sound Income Strategies LLC increased its position in Rio Tinto Group by 70.9% in the 3rd quarter. Sound Income Strategies LLC now owns 417 shares of the mining company’s stock valued at $30,000 after acquiring an additional 173 shares during the period. Finally, Northwest Investment Counselors LLC bought a new position in shares of Rio Tinto Group during the third quarter valued at $38,000. Institutional investors own 19.33% of the company’s stock.

Analyst Ratings Changes

Several analysts recently weighed in on the stock. Jefferies Financial Group reduced their price objective on shares of 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. StockNews.com raised Rio Tinto Group from a “buy” rating to a “strong-buy” rating in a research note on Friday. Berenberg Bank raised Rio Tinto Group from a “hold” rating to a “buy” rating in a research note on Wednesday, October 2nd. Finally, Macquarie reissued a “neutral” rating on shares of Rio Tinto Group in a research report on Wednesday, October 16th. Four analysts have rated the stock with a hold rating, three have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Rio Tinto Group currently has an average rating of “Moderate Buy” and an average price target of $73.00.

Rio Tinto Group Stock Performance

Shares of Rio Tinto Group stock opened at $61.00 on Friday. The stock’s 50-day moving average is $61.05 and its 200 day moving average is $63.61. Rio Tinto Group has a one year low of $57.85 and a one year high of $74.24. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.16 and a current ratio of 1.70.

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.