Davis Capital Management Has $872,000 Position in Rio Tinto Group (NYSE:RIO)

Davis Capital Management grew its position in Rio Tinto Group (NYSE:RIO) by 6.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 14,828 shares of the mining company’s stock after buying an additional 939 shares during the quarter. Davis Capital Management’s holdings in Rio Tinto Group were worth $872,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in RIO. Bank of Montreal Can increased its position in Rio Tinto Group by 237.0% in the 2nd quarter. Bank of Montreal Can now owns 2,472,471 shares of the mining company’s stock valued at $164,493,000 after acquiring an additional 1,738,752 shares during the period. Philip James Wealth Mangement LLC acquired a new position in Rio Tinto Group in the 3rd quarter valued at approximately $1,345,000. Fisher Asset Management LLC increased its position in Rio Tinto Group by 2.9% in the 3rd quarter. Fisher Asset Management LLC now owns 17,528,095 shares of the mining company’s stock valued at $1,247,475,000 after acquiring an additional 485,731 shares during the period. Barclays PLC increased its position in Rio Tinto Group by 225.6% in the 3rd quarter. Barclays PLC now owns 335,637 shares of the mining company’s stock valued at $23,888,000 after acquiring an additional 232,539 shares during the period. Finally, Northwest Bancshares Inc. acquired a new position in Rio Tinto Group in the 3rd quarter valued at approximately $1,440,000. 19.33% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have recently commented on RIO. Berenberg Bank raised shares of Rio Tinto Group from a “hold” rating to a “buy” rating in a research note on Wednesday, October 2nd. Jefferies Financial Group reduced their price objective on shares of Rio Tinto Group from $83.00 to $73.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. StockNews.com raised shares of Rio Tinto Group from a “buy” rating to a “strong-buy” rating in a research note on Friday, January 17th. Finally, Macquarie reaffirmed a “neutral” rating on shares of Rio Tinto Group in a research note on Wednesday, October 16th. Four analysts have rated the stock with a hold rating, three have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Rio Tinto Group has a consensus rating of “Moderate Buy” and an average price target of $73.00.

Rio Tinto Group Stock Up 1.2 %

Shares of NYSE RIO opened at $61.81 on Wednesday. Rio Tinto Group has a 12-month low of $57.85 and a 12-month high of $74.24. The company’s fifty day simple moving average is $60.95 and its 200 day simple moving average is $63.48. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.70 and a quick ratio of 1.16.

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.