Eads & Heald Wealth Management Sells 320 Shares of Rio Tinto Group (NYSE:RIO)

Eads & Heald Wealth Management cut its holdings in shares of Rio Tinto Group (NYSE:RIO) by 9.1% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 3,182 shares of the mining company’s stock after selling 320 shares during the quarter. Eads & Heald Wealth Management’s holdings in Rio Tinto Group were worth $226,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in RIO. Russell Investments Group Ltd. lifted its holdings in shares of Rio Tinto Group by 0.4% during the first quarter. Russell Investments Group Ltd. now owns 39,964 shares of the mining company’s stock worth $2,547,000 after purchasing an additional 147 shares during the period. Geneos Wealth Management Inc. lifted its holdings in 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 buying an additional 148 shares during the period. Armstrong Advisory Group Inc. grew its position in shares of Rio Tinto Group by 9.6% in the 3rd 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. Eagle Bluffs Wealth Management LLC increased its stake in shares of Rio Tinto Group by 1.1% in the second quarter. Eagle Bluffs Wealth Management LLC now owns 14,997 shares of the mining company’s stock valued at $989,000 after buying an additional 163 shares during the period. Finally, Bessemer Group Inc. raised its position in shares of Rio Tinto Group by 2.4% during the first quarter. Bessemer Group Inc. now owns 7,304 shares of the mining company’s stock worth $465,000 after acquiring an additional 169 shares during the last quarter. 19.33% of the stock is currently owned by institutional investors and hedge funds.

Rio Tinto Group Stock Up 0.7 %

NYSE:RIO opened at $65.33 on Friday. Rio Tinto Group has a 12 month low of $59.35 and a 12 month high of $75.09. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.16 and a current ratio of 1.70. The firm has a fifty day simple moving average of $65.19 and a two-hundred day simple moving average of $66.33.

Wall Street Analysts Forecast Growth

Several analysts recently commented on RIO shares. HSBC upgraded Rio Tinto Group from a “hold” rating to a “buy” rating in a report on Tuesday, July 23rd. StockNews.com upgraded shares of Rio Tinto Group from a “buy” rating to a “strong-buy” rating in a report on Friday, September 6th. Hsbc Global Res raised shares of Rio Tinto Group to a “strong-buy” rating in a research report on Tuesday, July 23rd. Berenberg Bank raised Rio Tinto Group from a “hold” rating to a “buy” rating in a research note on Wednesday, October 2nd. Finally, Royal Bank of Canada raised Rio Tinto Group to a “hold” rating in a research note on Wednesday, July 31st. Four investment analysts have rated the stock with a hold rating, four have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Rio Tinto Group presently has a consensus rating of “Moderate Buy”.

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.