Fifth Third Wealth Advisors LLC Buys 331 Shares of Rio Tinto Group (NYSE:RIO)

Fifth Third Wealth Advisors LLC lifted its stake in Rio Tinto Group (NYSE:RIO) by 6.7% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,274 shares of the mining company’s stock after acquiring an additional 331 shares during the period. Fifth Third Wealth Advisors LLC’s holdings in Rio Tinto Group were worth $317,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in RIO. Deutsche Bank AG raised its position in shares of Rio Tinto Group by 143,872.8% in the 4th quarter. Deutsche Bank AG now owns 1,264,081 shares of the mining company’s stock worth $74,341,000 after acquiring an additional 1,263,203 shares in the last quarter. Dynamo Internacional Gestao DE Recursos LTDA. raised its position in shares of Rio Tinto Group by 119.2% in the 4th quarter. Dynamo Internacional Gestao DE Recursos LTDA. now owns 129,804 shares of the mining company’s stock worth $2,423,000 after acquiring an additional 807,610 shares in the last quarter. Paloma Partners Management Co bought a new position in shares of Rio Tinto Group in the 4th quarter worth $40,032,000. Raymond James Financial Inc. bought a new position in shares of Rio Tinto Group in the 4th quarter worth $29,606,000. Finally, Ameriprise Financial Inc. raised its position in shares of Rio Tinto Group by 169.4% in the 4th quarter. Ameriprise Financial Inc. now owns 619,494 shares of the mining company’s stock worth $36,428,000 after acquiring an additional 389,531 shares in the last quarter. 19.33% of the stock is owned by institutional investors.

Rio Tinto Group Stock Down 1.2%

Rio Tinto Group stock opened at $58.87 on Wednesday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.16 and a current ratio of 1.63. The business’s 50-day simple moving average is $59.27 and its two-hundred day simple moving average is $60.77. The company has a market cap of $73.83 billion, a PE ratio of 9.13, a PEG ratio of 0.42 and a beta of 0.73. Rio Tinto Group has a fifty-two week low of $51.67 and a fifty-two week high of $72.08.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on RIO shares. Clarkson Capital upgraded Rio Tinto Group to a “strong-buy” rating in a research note on Friday, February 28th. Jefferies Financial Group restated a “hold” rating on shares of Rio Tinto Group in a research note on Tuesday. Barclays restated an “overweight” rating on shares of Rio Tinto Group in a research note on Wednesday, April 16th. Wall Street Zen downgraded Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a research note on Monday, April 28th. Finally, JPMorgan Chase & Co. started coverage on Rio Tinto Group in a research note on Tuesday, March 18th. They set an “overweight” rating on the stock. Four investment analysts have rated the stock with a hold rating, five have assigned a buy rating and three have issued a strong buy rating to the company. According to MarketBeat, Rio Tinto Group has an average rating of “Moderate Buy” and a consensus target price of $73.00.

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.