Naviter Wealth LLC Has $1.63 Million Stake in Rio Tinto Group (NYSE:RIO)

Naviter Wealth LLC increased its position in Rio Tinto Group (NYSE:RIO) by 14.6% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 24,593 shares of the mining company’s stock after purchasing an additional 3,134 shares during the period. Naviter Wealth LLC’s holdings in Rio Tinto Group were worth $1,629,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Meritage Portfolio Management boosted its stake 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 valued at $3,142,000 after buying an additional 147 shares during the period. Dana Investment Advisors Inc. raised its holdings in shares of Rio Tinto Group by 0.5% during the 3rd quarter. Dana Investment Advisors Inc. now owns 29,483 shares of the mining company’s stock valued at $1,876,000 after purchasing an additional 150 shares in the last quarter. EverSource Wealth Advisors LLC raised its holdings in shares of Rio Tinto Group by 8.5% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,922 shares of the mining company’s stock valued at $143,000 after purchasing an additional 150 shares in the last quarter. Optas LLC raised its holdings in Rio Tinto Group by 4.2% in the 1st quarter. Optas LLC now owns 3,833 shares of the mining company’s stock worth $244,000 after acquiring an additional 154 shares during the period. Finally, Parkside Financial Bank & Trust raised its holdings in Rio Tinto Group by 39.3% in the 4th 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 period. Institutional investors and hedge funds own 19.33% of the company’s stock.

Rio Tinto Group Stock Down 0.6 %

RIO opened at $66.01 on Wednesday. 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 simple moving average of $68.79 and a 200 day simple moving average of $68.06. Rio Tinto Group has a fifty-two week low of $58.27 and a fifty-two week high of $75.09.

Analyst Ratings Changes

Several brokerages have recently weighed in on RIO. Citigroup lowered shares of Rio Tinto Group from a “buy” rating to a “neutral” rating in a research report 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. Berenberg Bank lowered shares of Rio Tinto Group from a “buy” rating to a “hold” rating in a research report on Thursday, June 27th. Finally, Liberum Capital restated a “hold” rating on shares of Rio Tinto Group in a research report on Tuesday, March 5th. Four investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy”.

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.