Gateway Investment Advisers LLC Raises Position in Rio Tinto Group (NYSE:RIO)

Gateway Investment Advisers LLC lifted its stake in Rio Tinto Group (NYSE:RIO) by 142.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 29,491 shares of the mining company’s stock after buying an additional 17,319 shares during the period. Gateway Investment Advisers LLC’s holdings in Rio Tinto Group were worth $1,734,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Winch Advisory Services LLC acquired a new position in shares of Rio Tinto Group in the third quarter worth about $26,000. FSC Wealth Advisors LLC acquired a new position in shares of Rio Tinto Group in the third quarter worth about $28,000. Sound Income Strategies LLC raised its stake in Rio Tinto Group by 70.9% during the third quarter. Sound Income Strategies LLC now owns 417 shares of the mining company’s stock valued at $30,000 after buying an additional 173 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. raised its stake in Rio Tinto Group by 63.9% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 500 shares of the mining company’s stock valued at $29,000 after buying an additional 195 shares in the last quarter. Finally, Northwest Investment Counselors LLC acquired a new stake in Rio Tinto Group during the third quarter valued at approximately $38,000. Institutional investors and hedge funds own 19.33% of the company’s stock.

Wall Street Analyst Weigh In

RIO has been the topic of several research reports. StockNews.com upgraded Rio Tinto Group from a “buy” rating to a “strong-buy” rating in a research note on Friday. Macquarie restated a “neutral” rating on shares of Rio Tinto Group in a research note 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 price objective 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 equities research analysts have rated the stock with a hold rating, three have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $73.00.

Rio Tinto Group Price Performance

Shares of RIO stock opened at $61.00 on Friday. Rio Tinto Group has a 12-month low of $57.85 and a 12-month high of $74.24. The business has a 50 day simple moving average of $61.05 and a 200 day simple moving average of $63.61. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.70 and a quick ratio of 1.16.

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.