Rio Tinto Group (NYSE:RIO) Shares Purchased by IVC Wealth Advisors LLC

IVC Wealth Advisors LLC grew its holdings in shares of Rio Tinto Group (NYSE:RIO) by 6.4% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 10,204 shares of the mining company’s stock after buying an additional 618 shares during the period. IVC Wealth Advisors LLC’s holdings in Rio Tinto Group were worth $600,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also made changes to their positions in the business. Winch Advisory Services LLC acquired a new position in Rio Tinto Group in the third quarter valued at approximately $26,000. FSC Wealth Advisors LLC acquired a new position in shares of Rio Tinto Group in the 3rd quarter valued at $28,000. Thurston Springer Miller Herd & Titak Inc. grew its position in shares of 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 buying an additional 195 shares during the last quarter. Sound Income Strategies LLC raised its stake in Rio Tinto Group by 70.9% during the 3rd quarter. Sound Income Strategies LLC now owns 417 shares of the mining company’s stock worth $30,000 after acquiring an additional 173 shares in the last quarter. Finally, Northwest Investment Counselors LLC purchased a new stake in Rio Tinto Group in the third quarter valued at $38,000. Hedge funds and other institutional investors own 19.33% of the company’s stock.

Rio Tinto Group Stock Up 0.7 %

NYSE RIO opened at $61.56 on Friday. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.70 and a quick ratio of 1.16. Rio Tinto Group has a 52-week low of $57.85 and a 52-week high of $74.24. The firm has a 50-day moving average price of $60.97 and a 200 day moving average price of $63.42.

Analysts Set New Price Targets

RIO has been the topic of a number of research reports. Macquarie restated a “neutral” rating on shares of Rio Tinto Group in a research note on Wednesday, October 16th. StockNews.com upgraded shares of Rio Tinto Group from a “buy” rating to a “strong-buy” rating in a research report on Friday, January 17th. Jefferies Financial Group reduced 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. Finally, Berenberg Bank raised shares of Rio Tinto Group from a “hold” rating to a “buy” rating in a research report on Wednesday, October 2nd. Four investment 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 company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average 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.