Avidian Wealth Enterprises LLC Has $357,000 Stock Holdings in Rio Tinto Group (NYSE:RIO)

Avidian Wealth Enterprises LLC grew its holdings in Rio Tinto Group (NYSE:RIO) by 8.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,079 shares of the mining company’s stock after buying an additional 476 shares during the period. Avidian Wealth Enterprises LLC’s holdings in Rio Tinto Group were worth $357,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Winch Advisory Services LLC acquired a new stake in shares of Rio Tinto Group in the third quarter valued at approximately $26,000. FSC Wealth Advisors LLC acquired a new stake in shares of Rio Tinto Group in the third quarter valued at approximately $28,000. Thurston Springer Miller Herd & Titak Inc. lifted 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 valued at $29,000 after buying an additional 195 shares during the last quarter. Northwest Investment Counselors LLC acquired a new stake in shares of Rio Tinto Group in the third quarter valued at approximately $38,000. Finally, Golden State Wealth Management LLC acquired a new stake in shares of Rio Tinto Group in the fourth quarter valued at approximately $47,000. 19.33% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

RIO has been the subject of a number of recent analyst reports. StockNews.com cut Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a research report on Saturday, January 25th. Jefferies Financial Group cut 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. Four investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $73.00.

Rio Tinto Group Trading Up 2.1 %

Shares of NYSE RIO opened at $63.35 on Friday. 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 has a 1-year low of $57.85 and a 1-year high of $74.24. The business’s 50 day moving average is $60.63 and its 200-day moving average is $62.95.

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.