Rio Tinto Group (NYSE:RIO) Stock Position Lifted by CNB Bank

CNB Bank lifted its stake in shares of Rio Tinto Group (NYSE:RIO) by 100.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,000 shares of the mining company’s stock after purchasing an additional 1,000 shares during the quarter. CNB Bank’s holdings in Rio Tinto Group were worth $118,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Winch Advisory Services LLC acquired a new stake in shares of Rio Tinto Group in the 3rd quarter worth approximately $26,000. FSC Wealth Advisors LLC bought a new position in Rio Tinto Group during the 3rd quarter valued at $28,000. Thurston Springer Miller Herd & Titak Inc. increased its position in shares of Rio Tinto Group by 63.9% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 500 shares of the mining company’s stock valued at $29,000 after purchasing an additional 195 shares during the period. Sound Income Strategies LLC raised its stake in shares of Rio Tinto Group by 70.9% in the 3rd quarter. Sound Income Strategies LLC now owns 417 shares of the mining company’s stock worth $30,000 after buying an additional 173 shares in the last quarter. Finally, Northwest Investment Counselors LLC bought a new position in Rio Tinto Group during the third quarter valued at about $38,000. Institutional investors own 19.33% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Jefferies Financial Group dropped their price target on shares of Rio Tinto Group from $83.00 to $73.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. Macquarie reiterated a “neutral” rating on shares of Rio Tinto Group in a report on Wednesday, October 16th. Berenberg Bank upgraded shares of Rio Tinto Group from a “hold” rating to a “buy” rating in a report on Wednesday, October 2nd. Finally, StockNews.com cut Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a report on Tuesday, November 12th. Four analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Rio Tinto Group currently has an average rating of “Moderate Buy” and a consensus target price of $73.00.

Rio Tinto Group Stock Up 2.6 %

Rio Tinto Group stock opened at $61.37 on Friday. Rio Tinto Group has a fifty-two week low of $57.85 and a fifty-two week high of $74.24. The firm’s 50 day simple moving average is $61.20 and its 200-day simple moving average is $63.64. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.70 and a quick ratio of 1.16.

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.