Walker Asset Management LLC Purchases 200 Shares of Rio Tinto Group (NYSE:RIO)

Walker Asset Management LLC boosted its stake in shares of Rio Tinto Group (NYSE:RIO) by 4.8% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 4,326 shares of the mining company’s stock after buying an additional 200 shares during the period. Walker Asset Management LLC’s holdings in Rio Tinto Group were worth $260,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Rakuten Securities Inc. raised its holdings in Rio Tinto Group by 74.8% during the 4th quarter. Rakuten Securities Inc. now owns 493 shares of the mining company’s stock valued at $29,000 after buying an additional 211 shares during the period. Mechanics Financial Corp purchased a new stake in Rio Tinto Group during the 4th quarter valued at $29,000. Golden State Wealth Management LLC purchased a new stake in Rio Tinto Group during the 4th quarter valued at $47,000. Ameriflex Group Inc. purchased a new stake in Rio Tinto Group during the 4th quarter valued at $47,000. Finally, SJS Investment Consulting Inc. increased its stake in Rio Tinto Group by 577.9% in the first quarter. SJS Investment Consulting Inc. now owns 922 shares of the mining company’s stock worth $55,000 after purchasing an additional 786 shares during the period. Hedge funds and other institutional investors own 19.33% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on RIO. JPMorgan Chase & Co. began coverage on Rio Tinto Group in a research note on Tuesday, March 18th. They issued an “overweight” rating on the stock. Barclays reiterated an “overweight” rating on shares of Rio Tinto Group in a research note on Wednesday, April 16th. DZ Bank upgraded Rio Tinto Group from a “hold” rating to a “strong-buy” rating in a research note on Thursday, March 27th. Clarkson Capital upgraded Rio Tinto Group to a “strong-buy” rating in a research note on Friday, February 28th. Finally, Wall Street Zen lowered Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a research note on Monday, April 28th. Four research analysts have rated the stock with a hold rating, five have issued a buy rating and three have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $73.00.

Rio Tinto Group Stock Performance

Shares of Rio Tinto Group stock opened at $59.29 on Tuesday. Rio Tinto Group has a 12 month low of $51.67 and a 12 month high of $72.08. The stock’s fifty day moving average price is $59.16 and its 200-day moving average price is $60.66. The firm has a market cap of $74.35 billion, a P/E ratio of 9.19, a P/E/G ratio of 0.42 and a beta of 0.68. The company has a current ratio of 1.63, a quick ratio of 1.16 and a debt-to-equity ratio of 0.23.

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.