Mission Wealth Management LP Buys 2,111 Shares of Rio Tinto Group (NYSE:RIO)

Mission Wealth Management LP lifted its stake in Rio Tinto Group (NYSE:RIO) by 37.7% during the first quarter, HoldingsChannel reports. The firm owned 7,706 shares of the mining company’s stock after purchasing an additional 2,111 shares during the period. Mission Wealth Management LP’s holdings in Rio Tinto Group were worth $491,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. AdvisorNet Financial Inc grew its holdings in Rio Tinto Group by 785.7% during the 4th quarter. AdvisorNet Financial Inc now owns 372 shares of the mining company’s stock worth $28,000 after acquiring an additional 330 shares in the last quarter. Northwest Investment Counselors LLC bought a new position in Rio Tinto Group during the 1st quarter worth about $26,000. YHB Investment Advisors Inc. bought a new position in Rio Tinto Group during the 1st quarter worth about $29,000. Accordant Advisory Group Inc bought a new position in Rio Tinto Group during the 1st quarter worth about $31,000. Finally, LifeSteps Financial Inc. bought a new position in Rio Tinto Group during the 1st quarter worth about $33,000. 19.33% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts have issued reports on RIO shares. StockNews.com upgraded shares of Rio Tinto Group from a “buy” rating to a “strong-buy” rating in a report on Tuesday, May 21st. Berenberg Bank lowered shares of Rio Tinto Group from a “buy” rating to a “hold” rating in a research report on Thursday, June 27th. Finally, Citigroup lowered shares of Rio Tinto Group from a “buy” rating to a “neutral” rating in a research report on Monday, May 20th. Four equities research 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, the stock currently has an average rating of “Moderate Buy”.

Rio Tinto Group Trading Down 0.4 %

Shares of RIO stock traded down $0.26 during mid-day trading on Friday, hitting $67.64. 1,950,929 shares of the stock traded hands, compared to its average volume of 1,610,320. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.17 and a current ratio of 1.69. The stock’s fifty day moving average is $68.77 and its two-hundred day moving average is $67.98. Rio Tinto Group has a 52-week low of $58.27 and a 52-week high of $75.09.

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. 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.