Rio Tinto Group (NYSE:RIO) Shares Acquired by Persium Advisors LLC

Persium Advisors LLC grew its stake in Rio Tinto Group (NYSE:RIO) by 21.8% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 8,746 shares of the mining company’s stock after purchasing an additional 1,568 shares during the period. Persium Advisors LLC’s holdings in Rio Tinto Group were worth $525,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Fisher Asset Management LLC lifted its holdings in shares of Rio Tinto Group by 0.4% in the 4th quarter. Fisher Asset Management LLC now owns 17,604,463 shares of the mining company’s stock valued at $1,035,319,000 after buying an additional 76,368 shares during the period. Franklin Resources Inc. increased its stake in shares of Rio Tinto Group by 1.4% in the 4th quarter. Franklin Resources Inc. now owns 5,115,476 shares of the mining company’s stock valued at $300,841,000 after purchasing an additional 70,131 shares in the last quarter. FMR LLC increased its stake in shares of Rio Tinto Group by 24.6% in the 4th quarter. FMR LLC now owns 1,721,690 shares of the mining company’s stock valued at $101,253,000 after purchasing an additional 339,924 shares in the last quarter. Northern Trust Corp increased its stake in shares of Rio Tinto Group by 18.9% in the 4th quarter. Northern Trust Corp now owns 1,603,037 shares of the mining company’s stock valued at $94,275,000 after purchasing an additional 255,151 shares in the last quarter. Finally, Deutsche Bank AG increased its stake 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 valued at $74,341,000 after purchasing an additional 1,263,203 shares in the last quarter. Institutional investors and hedge funds own 19.33% of the company’s stock.

Rio Tinto Group Price Performance

NYSE:RIO opened at $59.03 on Friday. Rio Tinto Group has a 12 month low of $51.67 and a 12 month high of $72.08. The stock has a 50 day moving average of $59.17 and a two-hundred day moving average of $60.71. The company has a current ratio of 1.63, a quick ratio of 1.16 and a debt-to-equity ratio of 0.23. The firm has a market cap of $74.03 billion, a P/E ratio of 9.15, a price-to-earnings-growth ratio of 0.42 and a beta of 0.68.

Analysts Set New Price Targets

Several equities analysts recently weighed in on RIO shares. JPMorgan Chase & Co. started coverage on Rio Tinto Group in a research note on Tuesday, March 18th. They issued an “overweight” rating for the company. DZ Bank upgraded Rio Tinto Group from a “hold” rating to a “strong-buy” rating in a research note on Thursday, March 27th. Wall Street Zen lowered Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a research note on Monday, April 28th. Barclays restated an “overweight” rating on shares of Rio Tinto Group in a research note on Wednesday, April 16th. Finally, Jefferies Financial Group restated a “hold” rating on shares of Rio Tinto Group in a research note on Tuesday. Four equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $73.00.

Rio Tinto Group Company 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.