Advisory Resource Group Purchases 667 Shares of Rio Tinto Group (NYSE:RIO)

Advisory Resource Group boosted its holdings in Rio Tinto Group (NYSE:RIO) by 4.0% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 17,479 shares of the mining company’s stock after purchasing an additional 667 shares during the quarter. Advisory Resource Group’s holdings in Rio Tinto Group were worth $1,028,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Forbes J M & Co. LLP raised its position in Rio Tinto Group by 0.6% in the 4th quarter. Forbes J M & Co. LLP now owns 89,883 shares of the mining company’s stock worth $5,286,000 after buying an additional 568 shares during the last quarter. Wilmington Savings Fund Society FSB boosted its stake in shares of Rio Tinto Group by 9.6% in the 4th quarter. Wilmington Savings Fund Society FSB now owns 3,349 shares of the mining company’s stock worth $197,000 after buying an additional 292 shares during the last quarter. Golden State Wealth Management LLC bought a new stake in shares of Rio Tinto Group in the fourth quarter worth $47,000. Ameliora Wealth Management Ltd. grew its stake in shares of Rio Tinto Group by 567.2% during the 4th quarter. Ameliora Wealth Management Ltd. now owns 12,010 shares of the mining company’s stock valued at $706,000 after purchasing an additional 10,210 shares during the period. Finally, Tandem Financial LLC purchased a new stake in shares of Rio Tinto Group during the 4th quarter valued at about $267,000. 19.33% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

RIO has been the subject of a number of research reports. Macquarie reaffirmed a “neutral” rating on shares of Rio Tinto Group in a report on Wednesday, October 16th. Jefferies Financial Group decreased their target price on Rio Tinto Group from $83.00 to $73.00 and set a “buy” rating on the stock in a report on Monday, January 6th. Finally, StockNews.com lowered Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a report on Saturday, January 25th. Four investment 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 stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $73.00.

Rio Tinto Group Trading Down 0.4 %

Shares of RIO stock opened at $61.96 on Friday. The company has a current ratio of 1.70, a quick ratio of 1.16 and a debt-to-equity ratio of 0.23. The stock has a fifty day simple moving average of $60.72 and a two-hundred day simple moving average of $63.00. Rio Tinto Group has a 52-week low of $57.85 and a 52-week high of $74.24.

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.