Wealth Management Partners LLC Purchases New Position in Rio Tinto Group (NYSE:RIO)

Wealth Management Partners LLC purchased a new stake in shares of Rio Tinto Group (NYSE:RIO) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 16,812 shares of the mining company’s stock, valued at approximately $989,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Winch Advisory Services LLC acquired a new stake in Rio Tinto Group in the 3rd quarter valued at about $26,000. FSC Wealth Advisors LLC acquired a new stake in Rio Tinto Group in the 3rd quarter valued at about $28,000. Thurston Springer Miller Herd & Titak Inc. increased its position in Rio Tinto Group by 63.9% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 500 shares of the mining company’s stock valued at $29,000 after acquiring an additional 195 shares in the last quarter. Sound Income Strategies LLC increased its position in Rio Tinto Group by 70.9% in the 3rd quarter. Sound Income Strategies LLC now owns 417 shares of the mining company’s stock valued at $30,000 after acquiring an additional 173 shares in the last quarter. Finally, Northwest Investment Counselors LLC acquired a new stake in Rio Tinto Group in the 3rd quarter valued at about $38,000. 19.33% of the stock is owned by institutional investors.

Rio Tinto Group Stock Performance

Shares of NYSE RIO opened at $61.00 on Monday. The firm has a 50 day moving average price of $60.98 and a 200 day moving average price of $63.56. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.16 and a current ratio of 1.70. Rio Tinto Group has a 52-week low of $57.85 and a 52-week high of $74.24.

Wall Street Analyst Weigh In

Several research firms have weighed in on RIO. StockNews.com upgraded shares of Rio Tinto Group from a “buy” rating to a “strong-buy” rating in a research report on Friday. Macquarie reiterated a “neutral” rating on shares of Rio Tinto Group in a research report on Wednesday, October 16th. Berenberg Bank upgraded shares of Rio Tinto Group from a “hold” rating to a “buy” rating in a research report on Wednesday, October 2nd. Finally, Jefferies Financial Group lowered their price target on shares of 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 equities research analysts have rated the stock with a hold rating, three have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, Rio Tinto Group presently has an average rating of “Moderate Buy” and a consensus target price of $73.00.

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.