Callan Capital LLC Purchases New Position in Rio Tinto Group (NYSE:RIO)

Callan Capital LLC purchased a new stake in Rio Tinto Group (NYSE:RIO) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 3,169 shares of the mining company’s stock, valued at approximately $202,000.

Several other institutional investors have also bought and sold shares of the stock. AdvisorNet Financial Inc boosted its stake in Rio Tinto Group by 785.7% in the fourth quarter. AdvisorNet Financial Inc now owns 372 shares of the mining company’s stock worth $28,000 after purchasing an additional 330 shares in the last quarter. Northwest Investment Counselors LLC acquired a new position in Rio Tinto Group in the first quarter worth $26,000. YHB Investment Advisors Inc. acquired a new position in Rio Tinto Group in the first quarter worth $29,000. Accordant Advisory Group Inc acquired a new position in Rio Tinto Group in the first quarter worth $31,000. Finally, LifeSteps Financial Inc. acquired a new position in Rio Tinto Group in the first quarter worth $33,000. Institutional investors and hedge funds own 19.33% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. StockNews.com upgraded Rio Tinto Group from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, May 21st. Citigroup downgraded Rio Tinto Group from a “buy” rating to a “neutral” rating in a research report on Monday, May 20th. Finally, Berenberg Bank downgraded Rio Tinto Group from a “buy” rating to a “hold” rating in a research report on Thursday, June 27th. 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 company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy”.

Rio Tinto Group Stock Up 0.8 %

NYSE RIO traded up $0.51 on Wednesday, reaching $67.49. The company had a trading volume of 1,994,616 shares, compared to its average volume of 2,691,476. The stock’s 50 day moving average is $68.71 and its 200-day moving average is $67.81. The company has a current ratio of 1.69, a quick ratio of 1.17 and a debt-to-equity ratio of 0.23. Rio Tinto Group has a 52 week low of $58.27 and a 52 week 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.