3,242 Shares in Rio Tinto Group (NYSE:RIO) Bought by Wedmont Private Capital

Wedmont Private Capital acquired a new stake in Rio Tinto Group (NYSE:RIO) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 3,242 shares of the mining company’s stock, valued at approximately $218,000.

A number of other large investors have also modified their holdings of RIO. Meritage Portfolio Management raised its position in shares of Rio Tinto Group by 0.3% during the 4th quarter. Meritage Portfolio Management now owns 42,192 shares of the mining company’s stock worth $3,142,000 after purchasing an additional 147 shares during the last quarter. Dana Investment Advisors Inc. raised its holdings in shares of Rio Tinto Group by 0.5% during the third quarter. Dana Investment Advisors Inc. now owns 29,483 shares of the mining company’s stock valued at $1,876,000 after acquiring an additional 150 shares during the last quarter. EverSource Wealth Advisors LLC lifted its position in shares of Rio Tinto Group by 8.5% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,922 shares of the mining company’s stock valued at $143,000 after acquiring an additional 150 shares in the last quarter. Parkside Financial Bank & Trust boosted its stake in shares of Rio Tinto Group by 39.3% in the fourth quarter. Parkside Financial Bank & Trust now owns 553 shares of the mining company’s stock worth $41,000 after acquiring an additional 156 shares during the last quarter. Finally, Kayne Anderson Rudnick Investment Management LLC increased its position in shares of Rio Tinto Group by 2.4% during the third quarter. Kayne Anderson Rudnick Investment Management LLC now owns 7,428 shares of the mining company’s stock worth $473,000 after purchasing an additional 172 shares in the last quarter. Institutional investors and hedge funds own 19.33% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Citigroup cut shares of Rio Tinto Group from a “buy” rating to a “neutral” rating in a research note on Monday, May 20th. StockNews.com upgraded shares of Rio Tinto Group from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, May 21st. Finally, Liberum Capital reissued a “hold” rating on shares of Rio Tinto Group in a research note on Tuesday, March 5th. Three equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued 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 target price of $72.00.

Rio Tinto Group Trading Down 0.8 %

Shares of RIO opened at $66.40 on Monday. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.69 and a quick ratio of 1.17. The firm has a 50-day moving average price of $68.84 and a 200 day moving average price of $68.23. Rio Tinto Group has a 12-month low of $58.27 and a 12-month high of $75.09.

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.