BXM Wealth LLC Purchases Shares of 7,345 Rio Tinto Group (NYSE:RIO)

BXM Wealth LLC bought a new position in shares of Rio Tinto Group (NYSE:RIO - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 7,345 shares of the mining company's stock, valued at approximately $432,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of RIO. Winch Advisory Services LLC acquired a new position in Rio Tinto Group in the third quarter valued at approximately $26,000. FSC Wealth Advisors LLC purchased a new stake in shares of Rio Tinto Group in the third quarter valued at approximately $28,000. Thurston Springer Miller Herd & Titak Inc. increased its position in shares of Rio Tinto Group by 63.9% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 500 shares of the mining company's stock valued at $29,000 after buying an additional 195 shares in the last quarter. Northwest Investment Counselors LLC purchased a new stake in shares of Rio Tinto Group in the third quarter valued at approximately $38,000. Finally, Golden State Wealth Management LLC purchased a new stake in shares of Rio Tinto Group in the fourth quarter valued at approximately $47,000. Institutional investors and hedge funds own 19.33% of the company's stock.

Rio Tinto Group Trading Down 2.1 %

Shares of Rio Tinto Group stock traded down $1.37 during trading hours on Wednesday, hitting $62.81. The company's stock had a trading volume of 4,511,193 shares, compared to its average volume of 3,238,949. Rio Tinto Group has a twelve month low of $57.85 and a twelve month high of $74.24. The firm has a fifty day moving average of $60.61 and a 200-day moving average of $62.93. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.16 and a current ratio of 1.70.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Jefferies Financial Group cut their price objective on Rio Tinto Group from $83.00 to $73.00 and set a "buy" rating for the company in a research report on Monday, January 6th. StockNews.com upgraded Rio Tinto Group from a "buy" rating to a "strong-buy" rating in a research report on Friday, February 14th. Four investment analysts have rated the stock with a hold rating, three have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, Rio Tinto Group currently has a consensus rating of "Moderate Buy" and an average price target 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.