Kingswood Wealth Advisors LLC Takes Position in Rio Tinto Group (NYSE:RIO)

Kingswood Wealth Advisors LLC acquired a new stake in shares of Rio Tinto Group (NYSE:RIO - Free Report) in the fourth quarter, according to its most recent disclosure with the SEC. The firm acquired 6,079 shares of the mining company's stock, valued at approximately $358,000.

Other institutional investors also recently bought and sold shares of the company. Armstrong Advisory Group Inc. boosted its stake in Rio Tinto Group by 9.6% during the third quarter. Armstrong Advisory Group Inc. now owns 1,808 shares of the mining company's stock valued at $129,000 after buying an additional 159 shares during the last quarter. Sound Income Strategies LLC grew its stake in shares of Rio Tinto Group by 70.9% during the third quarter. Sound Income Strategies LLC now owns 417 shares of the mining company's stock valued at $30,000 after buying an additional 173 shares during the last quarter. Concurrent Investment Advisors LLC grew its position in Rio Tinto Group by 4.3% in the 3rd quarter. Concurrent Investment Advisors LLC now owns 4,261 shares of the mining company's stock valued at $303,000 after acquiring an additional 175 shares during the last quarter. Fiduciary Financial Group LLC lifted its position in shares of Rio Tinto Group by 3.7% during the third quarter. Fiduciary Financial Group LLC now owns 4,945 shares of the mining company's stock worth $330,000 after purchasing an additional 178 shares during the last quarter. Finally, Stonegate Investment Group LLC boosted its stake in shares of Rio Tinto Group by 3.4% during the third quarter. Stonegate Investment Group LLC now owns 5,467 shares of the mining company's stock valued at $389,000 after purchasing an additional 179 shares during the period. 19.33% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Rio Tinto Group Stock Performance

Shares of NYSE RIO opened at $60.39 on Friday. The stock's fifty day simple moving average is $60.87 and its two-hundred day simple moving average is $63.17. Rio Tinto Group has a 12-month low of $57.85 and a 12-month 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.

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.

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