Riverview Trust Co Makes New $110,000 Investment in Rio Tinto Group (NYSE:RIO)

Riverview Trust Co purchased a new stake in Rio Tinto Group (NYSE:RIO) during the first quarter, according to its most recent 13F filing with the SEC. The firm purchased 1,728 shares of the mining company’s stock, valued at approximately $110,000.

A number of other institutional investors have also modified their holdings of RIO. Wellington Management Group LLP boosted its stake in Rio Tinto Group by 7.1% in the 4th quarter. Wellington Management Group LLP now owns 24,838,524 shares of the mining company’s stock worth $1,849,476,000 after purchasing an additional 1,644,751 shares in the last quarter. Fisher Asset Management LLC boosted its stake in Rio Tinto Group by 3.1% in the 4th quarter. Fisher Asset Management LLC now owns 16,045,541 shares of the mining company’s stock worth $1,194,751,000 after purchasing an additional 475,329 shares in the last quarter. Morgan Stanley boosted its stake in Rio Tinto Group by 2.7% in the 3rd quarter. Morgan Stanley now owns 4,464,344 shares of the mining company’s stock worth $284,111,000 after purchasing an additional 118,706 shares in the last quarter. Northern Trust Corp boosted its stake in Rio Tinto Group by 0.9% in the 3rd quarter. Northern Trust Corp now owns 1,893,222 shares of the mining company’s stock worth $120,485,000 after purchasing an additional 17,401 shares in the last quarter. Finally, MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH boosted its stake in Rio Tinto Group by 19.9% in the 4th quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 797,985 shares of the mining company’s stock worth $59,418,000 after purchasing an additional 132,590 shares in the last quarter. 19.33% of the stock is currently owned by institutional investors.

Rio Tinto Group Price Performance

NYSE:RIO opened at $66.52 on Wednesday. The company has a quick ratio of 1.17, a current ratio of 1.69 and a debt-to-equity ratio of 0.23. The company has a 50 day moving average price of $68.85 and a 200-day moving average price of $68.18. Rio Tinto Group has a 1-year low of $58.27 and a 1-year high of $75.09.

Analysts Set New Price Targets

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

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.