Philip James Wealth Mangement LLC Buys New Shares in Rio Tinto Group (NYSE:RIO)

Philip James Wealth Mangement LLC bought a new stake in Rio Tinto Group (NYSE:RIO) during the third quarter, HoldingsChannel reports. The firm bought 18,894 shares of the mining company’s stock, valued at approximately $1,345,000.

A number of other hedge funds and other institutional investors have also modified their holdings of RIO. GSA Capital Partners LLP acquired a new position in Rio Tinto Group during the first quarter worth approximately $760,000. Csenge Advisory Group increased its position in Rio Tinto Group by 18.4% during the first quarter. Csenge Advisory Group now owns 6,838 shares of the mining company’s stock worth $436,000 after buying an additional 1,063 shares during the last quarter. Geneos Wealth Management Inc. increased its position in Rio Tinto Group by 55.4% during the first 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 last quarter. Envestnet Portfolio Solutions Inc. increased its position in Rio Tinto Group by 4.3% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 15,648 shares of the mining company’s stock worth $997,000 after buying an additional 642 shares during the last quarter. Finally, SG Americas Securities LLC increased its position in Rio Tinto Group by 65.2% during the first quarter. SG Americas Securities LLC now owns 16,416 shares of the mining company’s stock worth $1,046,000 after buying an additional 6,480 shares during the last quarter. Institutional investors and hedge funds own 19.33% of the company’s stock.

Analyst Ratings Changes

RIO has been the topic of a number of recent analyst reports. Hsbc Global Res raised Rio Tinto Group to a “strong-buy” rating in a research report on Tuesday, July 23rd. Macquarie reissued a “neutral” rating on shares of Rio Tinto Group in a research report on Wednesday, October 16th. Royal Bank of Canada upgraded Rio Tinto Group to a “hold” rating in a report on Wednesday, July 31st. StockNews.com raised Rio Tinto Group from a “buy” rating to a “strong-buy” rating in a research report on Friday, September 6th. Finally, Berenberg Bank raised Rio Tinto Group from a “hold” rating to a “buy” rating in a research report on Wednesday, October 2nd. Four analysts have rated the stock with a hold rating, four have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Rio Tinto Group presently has a consensus rating of “Moderate Buy”.

Rio Tinto Group Stock Down 4.5 %

Shares of Rio Tinto Group stock traded down $3.01 on Friday, hitting $64.46. The stock had a trading volume of 837,689 shares, compared to its average volume of 2,736,393. Rio Tinto Group has a twelve month low of $59.35 and a twelve month high of $75.09. The business’s 50 day moving average is $65.29 and its two-hundred day moving average is $66.30. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.70 and a quick ratio of 1.16.

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.