Legal Advantage Investments Inc. Has $323,000 Position in Rio Tinto Group (NYSE:RIO)

Legal Advantage Investments Inc. reduced its stake in Rio Tinto Group (NYSE:RIO) by 3.5% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 5,500 shares of the mining company’s stock after selling 200 shares during the quarter. Legal Advantage Investments Inc.’s holdings in Rio Tinto Group were worth $323,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Armstrong Advisory Group Inc. boosted its holdings in Rio Tinto Group by 9.6% in the third quarter. Armstrong Advisory Group Inc. now owns 1,808 shares of the mining company’s stock valued at $129,000 after acquiring an additional 159 shares during the last quarter. Sound Income Strategies LLC boosted its holdings in Rio Tinto Group by 70.9% in the third quarter. Sound Income Strategies LLC now owns 417 shares of the mining company’s stock valued at $30,000 after acquiring an additional 173 shares during the last quarter. Concurrent Investment Advisors LLC lifted its stake in Rio Tinto Group by 4.3% in the third quarter. Concurrent Investment Advisors LLC now owns 4,261 shares of the mining company’s stock valued at $303,000 after buying an additional 175 shares during the period. Fiduciary Financial Group LLC lifted its stake in Rio Tinto Group by 3.7% in the third quarter. Fiduciary Financial Group LLC now owns 4,945 shares of the mining company’s stock valued at $330,000 after buying an additional 178 shares during the period. Finally, Evergreen Capital Management LLC lifted its stake in Rio Tinto Group by 1.2% in the second quarter. Evergreen Capital Management LLC now owns 15,515 shares of the mining company’s stock valued at $1,023,000 after buying an additional 179 shares during the period. 19.33% of the stock is currently owned by institutional investors and hedge funds.

Rio Tinto Group Price Performance

Shares of NYSE RIO opened at $61.00 on Tuesday. The company has a current ratio of 1.70, a quick ratio of 1.16 and a debt-to-equity ratio of 0.23. Rio Tinto Group has a 12 month low of $57.85 and a 12 month high of $74.24. The stock has a 50 day moving average of $60.98 and a 200-day moving average of $63.53.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Berenberg Bank raised Rio Tinto Group from a “hold” rating to a “buy” rating in a research note on Wednesday, October 2nd. Jefferies Financial Group decreased their price objective on Rio Tinto Group from $83.00 to $73.00 and set a “buy” rating for the company in a report on Monday, January 6th. Macquarie restated a “neutral” rating on shares of Rio Tinto Group in a research note on Wednesday, October 16th. Finally, StockNews.com upgraded Rio Tinto Group from a “buy” rating to a “strong-buy” rating in a research note on Friday. Four research analysts have rated the stock with a hold rating, three have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $73.00.

Rio Tinto Group 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.