Walker Asset Management LLC Takes Position in Rio Tinto Group (NYSE:RIO)

Walker Asset Management LLC bought a new position in shares of Rio Tinto Group (NYSE:RIOFree Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 3,407 shares of the mining company’s stock, valued at approximately $217,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. AdvisorNet Financial Inc raised its stake in Rio Tinto Group by 785.7% during the fourth quarter. AdvisorNet Financial Inc now owns 372 shares of the mining company’s stock worth $28,000 after buying an additional 330 shares during the last quarter. Parkside Financial Bank & Trust grew its holdings in Rio Tinto Group by 39.3% in the fourth quarter. Parkside Financial Bank & Trust now owns 553 shares of the mining company’s stock worth $41,000 after purchasing an additional 156 shares during the period. Financial Management Professionals Inc. grew its holdings in Rio Tinto Group by 250.6% in the fourth quarter. Financial Management Professionals Inc. now owns 617 shares of the mining company’s stock worth $46,000 after purchasing an additional 441 shares during the period. Bruce G. Allen Investments LLC acquired a new stake in Rio Tinto Group in the fourth quarter worth $47,000. Finally, Bogart Wealth LLC grew its holdings in Rio Tinto Group by 279.3% in the fourth quarter. Bogart Wealth LLC now owns 679 shares of the mining company’s stock worth $51,000 after purchasing an additional 500 shares during the period. Institutional investors own 19.33% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on RIO shares. StockNews.com upgraded shares of Rio Tinto Group from a “buy” rating to a “strong-buy” rating in a report on Tuesday, May 21st. Citigroup cut shares of Rio Tinto Group from a “buy” rating to a “neutral” rating in a report on Monday, May 20th. Finally, Liberum Capital reiterated a “hold” rating on shares of Rio Tinto Group in a report on Tuesday, March 5th. Three research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $72.00.

Read Our Latest Stock Report on Rio Tinto Group

Rio Tinto Group Price Performance

RIO stock traded down $0.79 during trading on Friday, hitting $66.13. 665,431 shares of the stock traded hands, compared to its average volume of 2,770,042. Rio Tinto Group has a 1 year low of $58.27 and a 1 year high of $75.09. The firm’s 50 day moving average is $68.83 and its two-hundred day moving average is $68.26. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.17 and a current ratio of 1.69.

About Rio Tinto Group

(Free Report)

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.

See Also

Want to see what other hedge funds are holding RIO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Rio Tinto Group (NYSE:RIOFree Report).

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

Receive News & Ratings for Rio Tinto Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Rio Tinto Group and related companies with MarketBeat.com's FREE daily email newsletter.