Financial Advocates Investment Management Makes New Investment in Rio Tinto Group (NYSE:RIO)

Financial Advocates Investment Management acquired a new position in Rio Tinto Group (NYSE:RIO - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 9,648 shares of the mining company's stock, valued at approximately $567,000.

Other large investors have also recently made changes to their positions in the company. Winch Advisory Services LLC purchased a new position in shares of Rio Tinto Group during the third quarter valued at approximately $26,000. FSC Wealth Advisors LLC purchased a new position in Rio Tinto Group during the 3rd quarter valued at $28,000. Thurston Springer Miller Herd & Titak Inc. grew its position in Rio Tinto Group by 63.9% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 500 shares of the mining company's stock valued at $29,000 after acquiring an additional 195 shares during the last quarter. Sound Income Strategies LLC increased 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 worth $30,000 after purchasing an additional 173 shares during the period. Finally, Northwest Investment Counselors LLC bought a new stake in shares of Rio Tinto Group during the third quarter worth $38,000. 19.33% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on RIO shares. Macquarie reiterated a "neutral" rating on shares of Rio Tinto Group in a research note on Wednesday, October 16th. Jefferies Financial Group dropped their target price on Rio Tinto Group from $83.00 to $73.00 and set a "buy" rating on the stock in a research report on Monday, January 6th. Finally, StockNews.com lowered Rio Tinto Group from a "strong-buy" rating to a "buy" rating in a research report on Saturday, January 25th. Four research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, Rio Tinto Group presently has a consensus rating of "Moderate Buy" and an average target price of $73.00.

Rio Tinto Group Price Performance

Shares of NYSE RIO traded up $0.36 during trading hours on Monday, hitting $62.31. 645,067 shares of the stock were exchanged, compared to its average volume of 3,262,466. Rio Tinto Group has a 12 month low of $57.85 and a 12 month high of $74.24. The firm has a fifty day moving average price of $60.72 and a 200-day moving average price of $62.99. The company has a current ratio of 1.70, a quick ratio of 1.16 and a debt-to-equity ratio of 0.23.

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.