International Assets Investment Management LLC purchased a new stake in shares of Rio Tinto Group (NYSE:RIO - Free Report) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 134,566 shares of the mining company's stock, valued at approximately $9,577,000.
Other institutional investors also recently bought and sold shares of the company. Geneos Wealth Management Inc. grew its holdings in shares of Rio Tinto Group by 55.4% during the 1st quarter. Geneos Wealth Management Inc. now owns 415 shares of the mining company's stock worth $26,000 after acquiring an additional 148 shares during the period. GHP Investment Advisors Inc. purchased a new stake in Rio Tinto Group in the second quarter worth $26,000. Winch Advisory Services LLC bought a new position in Rio Tinto Group in the third quarter worth $26,000. FSC Wealth Advisors LLC purchased a new position in Rio Tinto Group during the third quarter valued at $28,000. Finally, Sound Income Strategies LLC boosted its holdings in shares of Rio Tinto Group by 70.9% during the 3rd 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 in the last quarter. 19.33% of the stock is owned by institutional investors.
Rio Tinto Group Stock Down 1.5 %
NYSE RIO traded down $1.01 during mid-day trading on Thursday, reaching $64.89. The stock had a trading volume of 1,816,907 shares, compared to its average volume of 2,751,798. Rio Tinto Group has a 1 year low of $59.35 and a 1 year high of $75.09. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.70 and a quick ratio of 1.16. The company has a fifty day moving average price of $65.15 and a 200 day moving average price of $66.34.
Analysts Set New Price Targets
A number of research analysts recently issued reports on RIO shares. Berenberg Bank raised shares of Rio Tinto Group from a "hold" rating to a "buy" rating in a research report on Wednesday, October 2nd. Hsbc Global Res upgraded shares of Rio Tinto Group to a "strong-buy" rating in a report on Tuesday, July 23rd. Macquarie restated a "neutral" rating on shares of Rio Tinto Group in a research note on Wednesday, October 16th. HSBC upgraded Rio Tinto Group from a "hold" rating to a "buy" rating in a research note on Tuesday, July 23rd. Finally, Royal Bank of Canada raised Rio Tinto Group to a "hold" rating in a research note on Wednesday, July 31st. Four analysts have rated the stock with a hold rating, four have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy".
Check Out Our Latest Stock Analysis on Rio Tinto Group
Rio Tinto Group Profile
(
Free Report)
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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