Creative Planning raised its stake in Rio Tinto Group (NYSE:RIO – Get Rating) by 21.8% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 68,946 shares of the mining company’s stock after acquiring an additional 12,343 shares during the quarter. Creative Planning’s holdings in Rio Tinto Group were worth $3,796,000 at the end of the most recent quarter.
A number of other institutional investors also recently made changes to their positions in RIO. Castle Wealth Management LLC acquired a new position in shares of Rio Tinto Group in the second quarter worth $26,000. Cowa LLC acquired a new position in shares of Rio Tinto Group in the first quarter worth $26,000. Tortoise Investment Management LLC acquired a new position in shares of Rio Tinto Group in the second quarter worth $27,000. Twin Lakes Capital Management LLC acquired a new position in shares of Rio Tinto Group in the third quarter worth $28,000. Finally, Larson Financial Group LLC acquired a new position in shares of Rio Tinto Group in the second quarter worth $33,000. 10.43% of the stock is owned by institutional investors and hedge funds.
Rio Tinto Group Stock Performance
RIO stock opened at $78.99 on Wednesday. The stock has a 50-day moving average price of $71.18 and a two-hundred day moving average price of $62.16. Rio Tinto Group has a 12-month low of $50.92 and a 12-month high of $87.00. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.79 and a quick ratio of 1.34.
Analysts Set New Price Targets
RIO has been the subject of a number of analyst reports. Citigroup cut Rio Tinto Group from a “buy” rating to a “neutral” rating in a report on Thursday, December 1st. Deutsche Bank Aktiengesellschaft upped their target price on Rio Tinto Group from GBX 5,800 ($71.81) to GBX 6,200 ($76.76) in a research note on Tuesday, January 10th. UBS Group lowered Rio Tinto Group from a “neutral” rating to a “sell” rating in a research note on Tuesday, December 13th. JPMorgan Chase & Co. upped their target price on Rio Tinto Group from GBX 5,310 ($65.74) to GBX 5,380 ($66.61) in a research note on Wednesday, January 18th. Finally, Berenberg Bank upgraded Rio Tinto Group from a “sell” rating to a “buy” rating in a research note on Thursday, January 12th. Four equities research analysts have rated the stock with a sell rating, six have given a hold rating and five have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $4,360.00.
Rio Tinto Group Company Profile
Rio Tinto Group engages in exploring, mining, and processing mineral resources worldwide. The company offers aluminum, copper, diamonds, gold, borates, titanium dioxide, salt, iron ore, and lithium. It also owns and operates open pit and underground mines, mills, refineries, smelters, power stations, and research and service facilities.