Kingswood Wealth Advisors LLC Makes New $358,000 Investment in Rio Tinto Group (NYSE:RIO)

Kingswood Wealth Advisors LLC bought a new position in Rio Tinto Group (NYSE:RIO) during the fourth quarter, Holdings Channel reports. The firm bought 6,079 shares of the mining company’s stock, valued at approximately $358,000.

Several other institutional investors also recently bought and sold shares of RIO. Winch Advisory Services LLC acquired a new stake in shares of Rio Tinto Group during the 3rd quarter worth approximately $26,000. FSC Wealth Advisors LLC acquired a new stake in Rio Tinto Group during the third quarter valued at $28,000. Sound Income Strategies LLC increased its holdings in Rio Tinto Group by 70.9% in the third 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. Thurston Springer Miller Herd & Titak Inc. raised its position in shares of Rio Tinto Group by 63.9% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 500 shares of the mining company’s stock worth $29,000 after acquiring an additional 195 shares during the period. Finally, Northwest Investment Counselors LLC purchased a new stake in shares of Rio Tinto Group during the 3rd quarter worth about $38,000. 19.33% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

RIO has been the subject of several recent analyst reports. Jefferies Financial Group cut 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. Macquarie reaffirmed a “neutral” rating on shares of Rio Tinto Group in a research note on Wednesday, October 16th. Finally, StockNews.com cut shares of Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a research note on Saturday, January 25th. Four research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Rio Tinto Group presently has a consensus rating of “Moderate Buy” and an average price target of $73.00.

Rio Tinto Group Stock Performance

Rio Tinto Group stock opened at $60.39 on Friday. The company has a fifty day simple moving average of $60.87 and a 200-day simple moving average of $63.17. The company has a quick ratio of 1.16, a current ratio of 1.70 and a debt-to-equity ratio of 0.23. Rio Tinto Group has a 52-week low of $57.85 and a 52-week 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.