Baird Financial Group Inc. Has $1.33 Million Stock Position in Rio Tinto Group (NYSE:RIO)

Baird Financial Group Inc. increased its holdings in shares of Rio Tinto Group (NYSE:RIOGet Rating) by 2.0% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 21,758 shares of the mining company’s stock after purchasing an additional 423 shares during the period. Baird Financial Group Inc.’s holdings in Rio Tinto Group were worth $1,328,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in RIO. Park Avenue Securities LLC grew its stake in Rio Tinto Group by 114.2% during the first quarter. Park Avenue Securities LLC now owns 13,163 shares of the mining company’s stock worth $1,058,000 after purchasing an additional 7,018 shares during the period. Integrated Advisors Network LLC bought a new position in Rio Tinto Group in the first quarter worth approximately $620,000. DAVENPORT & Co LLC boosted its holdings in Rio Tinto Group by 9.5% in the first quarter. DAVENPORT & Co LLC now owns 45,133 shares of the mining company’s stock worth $3,629,000 after acquiring an additional 3,922 shares in the last quarter. National Asset Management Inc. boosted its holdings in Rio Tinto Group by 461.2% in the first quarter. National Asset Management Inc. now owns 25,814 shares of the mining company’s stock worth $2,076,000 after acquiring an additional 21,214 shares in the last quarter. Finally, JFS Wealth Advisors LLC boosted its holdings in Rio Tinto Group by 413.6% in the first quarter. JFS Wealth Advisors LLC now owns 642 shares of the mining company’s stock worth $52,000 after acquiring an additional 517 shares in the last quarter. Institutional investors and hedge funds own 10.05% of the company’s stock.

Rio Tinto Group Stock Up 0.4 %

NYSE:RIO opened at $65.19 on Friday. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.79 and a quick ratio of 1.34. The business has a fifty day simple moving average of $56.71 and a two-hundred day simple moving average of $60.92. Rio Tinto Group has a 1 year low of $50.92 and a 1 year high of $84.69.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. UBS Group cut their price target on Rio Tinto Group from GBX 4,400 ($51.70) to GBX 4,300 ($50.53) in a report on Thursday, July 28th. Berenberg Bank raised their target price on Rio Tinto Group from GBX 4,100 ($48.18) to GBX 4,300 ($50.53) in a report on Friday, July 29th. Barclays dropped their target price on Rio Tinto Group from GBX 4,500 ($52.88) to GBX 4,300 ($50.53) in a report on Friday, October 21st. Macquarie lowered Rio Tinto Group from an “outperform” rating to a “neutral” rating in a report on Tuesday, August 23rd. Finally, Morgan Stanley dropped their target price on Rio Tinto Group from GBX 5,990 ($70.39) to GBX 5,900 ($69.33) and set an “overweight” rating on the stock in a report on Tuesday, August 16th. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $4,340.00.

Rio Tinto Group Profile

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Rio Tinto Group engages in exploring, mining, and processing mineral resources worldwide. The company offers aluminum, copper, diamonds, gold, borates, titanium dioxide, salt, iron ore, and lithium. It also owns and operates open pit and underground mines, mills, refineries, smelters, power stations, and research and service facilities.

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

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