WealthPLAN Partners LLC purchased a new position in Rio Tinto Group (NYSE:RIO – Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 747 shares of the mining company’s stock, valued at approximately $51,000.
Other institutional investors also recently modified their holdings of the company. Cowa LLC bought a new stake in Rio Tinto Group during the 1st quarter valued at about $26,000. Householder Group Estate & Retirement Specialist LLC bought a new stake in Rio Tinto Group during the 1st quarter valued at about $27,000. CNB Bank bought a new stake in Rio Tinto Group during the 4th quarter valued at about $28,000. Larson Financial Group LLC increased its stake in Rio Tinto Group by 297.2% during the 1st quarter. Larson Financial Group LLC now owns 433 shares of the mining company’s stock valued at $30,000 after purchasing an additional 324 shares in the last quarter. Finally, First Manhattan Co. increased its stake in Rio Tinto Group by 555.4% during the 4th quarter. First Manhattan Co. now owns 426 shares of the mining company’s stock valued at $30,000 after purchasing an additional 361 shares in the last quarter. 10.44% of the stock is currently owned by institutional investors.
Rio Tinto Group Trading Down 0.4 %
RIO opened at $59.33 on Monday. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.99 and a quick ratio of 1.37. The company’s 50 day moving average is $64.74 and its 200 day moving average is $66.20. Rio Tinto Group has a 12-month low of $50.92 and a 12-month high of $80.51.
Rio Tinto Group Increases Dividend
Analysts Set New Price Targets
A number of brokerages have recently issued reports on RIO. Liberum Capital raised shares of Rio Tinto Group from a “sell” rating to a “hold” rating in a report on Thursday, July 6th. Citigroup raised shares of Rio Tinto Group from a “neutral” rating to a “buy” rating in a report on Thursday, June 8th. Argus dropped their price target on shares of Rio Tinto Group from $80.00 to $72.00 in a report on Wednesday, June 28th. StockNews.com began coverage on shares of Rio Tinto Group in a report on Thursday. They set a “buy” rating on the stock. Finally, JPMorgan Chase & Co. raised shares of Rio Tinto Group from an “underweight” rating to a “neutral” rating in a report on Monday, May 15th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $72.00.
Check Out Our Latest Report on RIO
Rio Tinto Group Company Profile
Rio Tinto Group engages in exploring, mining, and processing mineral resources worldwide. The company operates through Iron Ore, Aluminium, Copper, and Minerals Segments. It offers aluminum, copper, iron ore, diamonds, gold, borates, titanium dioxide, salt, silver, molybdenum, and lithium. The company also owns and operates open pit and underground mines, refineries, smelters, and concentrator facilities, as well as power stations, research, and service facilities.
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