Davis Capital Management Has $872,000 Stock Position in Rio Tinto Group (NYSE:RIO)

Davis Capital Management grew its holdings in shares of Rio Tinto Group (NYSE:RIO) by 6.8% in the fourth quarter, Holdings Channel reports. The institutional investor owned 14,828 shares of the mining company’s stock after acquiring an additional 939 shares during the period. Davis Capital Management’s holdings in Rio Tinto Group were worth $872,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Winch Advisory Services LLC bought a new position in shares of Rio Tinto Group during the third quarter valued at about $26,000. FSC Wealth Advisors LLC bought a new position in shares of Rio Tinto Group during the third quarter valued at about $28,000. Thurston Springer Miller Herd & Titak Inc. lifted its position in shares of 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 purchasing an additional 195 shares in the last quarter. Sound Income Strategies LLC lifted its position in shares of 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 purchasing an additional 173 shares in the last quarter. Finally, Northwest Investment Counselors LLC bought a new position in shares of Rio Tinto Group during the third quarter valued at about $38,000. 19.33% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on RIO shares. Berenberg Bank raised shares of Rio Tinto Group from a “hold” rating to a “buy” rating in a research report on Wednesday, October 2nd. StockNews.com raised shares of Rio Tinto Group from a “buy” rating to a “strong-buy” rating in a research report on Friday, January 17th. Macquarie reaffirmed a “neutral” rating on shares of Rio Tinto Group in a research report on Wednesday, October 16th. Finally, Jefferies Financial Group lowered 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 report on Monday, January 6th. Four research analysts have rated the stock with a hold rating, three have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $73.00.

Rio Tinto Group Trading Up 1.2 %

RIO opened at $61.81 on Wednesday. The company has a current ratio of 1.70, a quick ratio of 1.16 and a debt-to-equity ratio of 0.23. The firm has a 50-day moving average price of $60.95 and a 200-day moving average price of $63.48. Rio Tinto Group has a twelve month low of $57.85 and a twelve month high of $74.24.

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.