Rio Tinto Group (NYSE:RIO) Shares Acquired by Kayne Anderson Rudnick Investment Management LLC

Kayne Anderson Rudnick Investment Management LLC boosted its holdings in shares of Rio Tinto Group (NYSE:RIOGet Rating) by 30.4% in the 4th quarter, Holdings Channel reports. The firm owned 9,523 shares of the mining company’s stock after buying an additional 2,221 shares during the period. Kayne Anderson Rudnick Investment Management LLC’s holdings in Rio Tinto Group were worth $637,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Hilltop Holdings Inc. acquired a new stake in Rio Tinto Group during the fourth quarter valued at approximately $233,000. People s United Financial Inc. lifted its stake in Rio Tinto Group by 36.2% during the fourth quarter. People s United Financial Inc. now owns 33,393 shares of the mining company’s stock valued at $2,235,000 after purchasing an additional 8,868 shares during the last quarter. Schroder Investment Management Group acquired a new stake in Rio Tinto Group during the fourth quarter valued at approximately $298,000. MKT Advisors LLC acquired a new stake in Rio Tinto Group during the fourth quarter valued at approximately $212,000. Finally, Headinvest LLC lifted its stake in Rio Tinto Group by 36.4% during the fourth quarter. Headinvest LLC now owns 7,500 shares of the mining company’s stock valued at $502,000 after purchasing an additional 2,000 shares during the last quarter. 10.84% of the stock is owned by institutional investors and hedge funds.

RIO has been the subject of several research analyst reports. Barclays downgraded shares of Rio Tinto Group from an “equal weight” rating to an “underweight” rating in a research report on Tuesday, April 26th. Berenberg Bank downgraded shares of Rio Tinto Group from a “buy” rating to a “hold” rating in a research report on Thursday, April 21st. StockNews.com downgraded shares of Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a research report on Thursday, May 12th. Jefferies Financial Group upped their price target on shares of Rio Tinto Group from $65.00 to $70.00 in a research report on Thursday, February 3rd. Finally, Citigroup upgraded shares of Rio Tinto Group from a “neutral” rating to a “buy” rating in a research report on Wednesday, April 20th. Three analysts have rated the stock with a sell rating, eleven have assigned a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $2,531.49.

Shares of RIO opened at $72.13 on Friday. The company’s fifty day moving average is $74.42 and its 200-day moving average is $71.91. Rio Tinto Group has a 12 month low of $59.58 and a 12 month high of $91.09. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.50 and a current ratio of 1.93.

Rio Tinto Group Profile (Get Rating)

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.

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Institutional Ownership by Quarter for Rio Tinto Group (NYSE:RIO)

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