Strategic Financial Concepts LLC Invests $816,000 in Rio Tinto Group (NYSE:RIO)

Strategic Financial Concepts LLC purchased a new stake in shares of Rio Tinto Group (NYSE:RIO) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 13,879 shares of the mining company’s stock, valued at approximately $816,000.

Several other large investors have also recently modified their holdings of the stock. Winch Advisory Services LLC bought a new stake in Rio Tinto Group during the 3rd quarter valued at about $26,000. FSC Wealth Advisors LLC purchased a new stake in shares of Rio Tinto Group during 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% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 500 shares of the mining company’s stock valued at $29,000 after acquiring an additional 195 shares in the last quarter. Northwest Investment Counselors LLC purchased a new position in Rio Tinto Group in the 3rd quarter worth approximately $38,000. Finally, Golden State Wealth Management LLC bought a new position in Rio Tinto Group in the 4th quarter valued at approximately $47,000. Hedge funds and other institutional investors own 19.33% of the company’s stock.

Wall Street Analysts Forecast Growth

RIO has been the subject of several recent analyst reports. Jefferies Financial Group decreased their price target on Rio Tinto Group from $83.00 to $73.00 and set a “buy” rating for the company in a research note on Monday, January 6th. StockNews.com upgraded Rio Tinto Group from a “buy” rating to a “strong-buy” rating in a report on Friday, February 14th. Four investment analysts have rated the stock with a hold rating, three have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $73.00.

Rio Tinto Group Stock Up 1.3 %

Shares of RIO opened at $64.21 on Wednesday. The firm has a fifty day simple moving average of $60.62 and a two-hundred day simple moving average of $62.92. The company has a current ratio of 1.70, a quick ratio of 1.16 and a debt-to-equity ratio of 0.23. Rio Tinto Group has a 1-year low of $57.85 and a 1-year high of $74.24.

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.