Community Bank & Trust Waco Texas Increases Investment in Rio Tinto Group

Community Bank & Trust Waco Texas has raised its investment in Rio Tinto Group (NYSE:RIO) by 20.5% during the fourth quarter, according to their most recent Form 13F filing with the Securities and Exchange Commission. This institutional investor now holds 24,574 shares after buying an additional 4,188 shares throughout the quarter. At the end of the reporting period, these holdings were valued at approximately $1,455,000.

Recent Changes in Institutional Investor Positions

Other institutional investors have also been adjusting their stakes in Rio Tinto Group recently. Winch Advisory Services LLC initiated a new position in Rio Tinto Group during the third quarter, valued around $26,000. Likewise, FSC Wealth Advisors LLC acquired a new position worth about $28,000 in the same quarter. Thurston Springer Miller Herd & Titak Inc. increased its investments by 63.9% in the fourth quarter and now holds 500 shares worth $29,000 after adding an additional 195 shares. Sound Income Strategies LLC also boosted its investments by 70.9% during the third quarter, now owning 417 shares valued at $30,000. Finally, Northwest Investment Counselors LLC bought a new stake during the third quarter, worth approximately $38,000. Currently, hedge funds and other institutional investors collectively own 19.33% of the company's stock.

Rio Tinto Group's Stock Performance

The stock of Rio Tinto Group opened at $62.23 on Tuesday. The mining company has a debt-to-equity ratio of 0.23, a current ratio of 1.70, and a quick ratio of 1.16. Within the past year, the stock has reached a low of $57.85 and a high of $74.24. It has a fifty-day moving average price of $60.72 and a 200-day moving average price of $62.99.

Analysts' Outlook for Rio Tinto Group

Recently, several equities analysts have shared their views on Rio Tinto Group. StockNews.com downgraded its rating from "strong-buy" to "buy" on January 25. Jefferies Financial Group revised its price target for the company from $83.00 to $73.00 while maintaining a "buy" rating in their report dated January 6. Meanwhile, Macquarie has reaffirmed a "neutral" rating based on their research dated October 16. As per the latest data from MarketBeat.com, the overall consensus rating on the stock is "Moderate Buy," with an average target price set at $73.00.

About Rio Tinto Group

Rio Tinto Group is a global leader in the exploration, mining, and processing of mineral resources. The company operates through different segments, including Iron Ore, Aluminium, Copper, and Minerals. The Iron Ore segment focuses on iron ore mining, as well as salt and gypsum production in Western Australia. The Aluminium segment covers activities like bauxite mining, alumina refining, and aluminium smelting.

Investment, Mining, Stock