Essex Financial Services Inc. Has $567,000 Holdings in Rio Tinto Group (NYSE:RIO)

Essex Financial Services Inc. trimmed its holdings in Rio Tinto Group (NYSE:RIO) by 2.5% in the fourth quarter, Holdings Channel reports. The fund owned 9,640 shares of the mining company’s stock after selling 243 shares during the period. Essex Financial Services Inc.’s holdings in Rio Tinto Group were worth $567,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Winch Advisory Services LLC acquired a new position in shares of Rio Tinto Group in the 3rd quarter valued at approximately $26,000. FSC Wealth Advisors LLC bought a new position in Rio Tinto Group in the third quarter valued at approximately $28,000. Thurston Springer Miller Herd & Titak Inc. boosted its holdings 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 valued at $29,000 after buying an additional 195 shares during the period. Northwest Investment Counselors LLC bought a new stake in shares of Rio Tinto Group during the third quarter worth $38,000. Finally, Golden State Wealth Management LLC acquired a new stake in shares of Rio Tinto Group during the fourth quarter worth $47,000. 19.33% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on RIO. Macquarie reaffirmed a “neutral” rating on shares of Rio Tinto Group in a research note on Wednesday, October 16th. Jefferies Financial Group reduced their price objective on Rio Tinto Group from $83.00 to $73.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Finally, StockNews.com downgraded Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a report on Saturday, January 25th. Four research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $73.00.

Rio Tinto Group Price Performance

Shares of RIO stock opened at $62.02 on Thursday. The firm’s fifty day moving average price is $60.66 and its two-hundred day moving average price is $62.96. Rio Tinto Group has a 1 year low of $57.85 and a 1 year high of $74.24. 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 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.