Addenda Capital Inc. Has $5.90 Million Stock Holdings in Rio Tinto Group (NYSE:RIO)

Addenda Capital Inc. decreased its stake in Rio Tinto Group (NYSE:RIO) by 0.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 100,382 shares of the mining company’s stock after selling 286 shares during the period. Addenda Capital Inc.’s holdings in Rio Tinto Group were worth $5,903,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Winch Advisory Services LLC acquired a new stake in Rio Tinto Group during the third quarter worth approximately $26,000. FSC Wealth Advisors LLC acquired a new stake in Rio Tinto Group during the third quarter worth approximately $28,000. Thurston Springer Miller Herd & Titak Inc. grew its stake in Rio Tinto Group by 63.9% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 500 shares of the mining company’s stock worth $29,000 after purchasing an additional 195 shares during the period. Sound Income Strategies LLC grew its stake 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 period. Finally, Northwest Investment Counselors LLC acquired a new stake in Rio Tinto Group in the third quarter valued at approximately $38,000. Institutional investors and hedge funds own 19.33% of the company’s stock.

Rio Tinto Group Stock Performance

Shares of NYSE RIO opened at $61.00 on Tuesday. Rio Tinto Group has a one year low of $57.85 and a one year high of $74.24. The company has a quick ratio of 1.16, a current ratio of 1.70 and a debt-to-equity ratio of 0.23. The business’s fifty day moving average price is $60.98 and its 200-day moving average price is $63.53.

Analysts Set New Price Targets

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