4,810 Shares in Rio Tinto Group (NYSE:RIO) Acquired by Octavia Wealth Advisors LLC

Octavia Wealth Advisors LLC purchased a new position in shares of Rio Tinto Group (NYSE:RIO) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 4,810 shares of the mining company’s stock, valued at approximately $283,000.

A number of other institutional investors have also added to or reduced their stakes in RIO. Armstrong Advisory Group Inc. grew its holdings in Rio Tinto Group by 9.6% during the third quarter. Armstrong Advisory Group Inc. now owns 1,808 shares of the mining company’s stock valued at $129,000 after purchasing an additional 159 shares during the period. Sound Income Strategies LLC grew its holdings in Rio Tinto Group by 70.9% during the third quarter. Sound Income Strategies LLC now owns 417 shares of the mining company’s stock valued at $30,000 after purchasing an additional 173 shares during the period. Concurrent Investment Advisors LLC grew its holdings in Rio Tinto Group by 4.3% during the third quarter. Concurrent Investment Advisors LLC now owns 4,261 shares of the mining company’s stock valued at $303,000 after purchasing an additional 175 shares during the period. Fiduciary Financial Group LLC grew its holdings in Rio Tinto Group by 3.7% during the third quarter. Fiduciary Financial Group LLC now owns 4,945 shares of the mining company’s stock valued at $330,000 after purchasing an additional 178 shares during the period. Finally, Evergreen Capital Management LLC grew its holdings in Rio Tinto Group by 1.2% during the second quarter. Evergreen Capital Management LLC now owns 15,515 shares of the mining company’s stock valued at $1,023,000 after purchasing an additional 179 shares during the period. 19.33% of the stock is owned by institutional investors and hedge funds.

Rio Tinto Group Trading Up 1.2 %

Shares of RIO stock opened at $61.81 on Wednesday. The company has a current ratio of 1.70, a quick ratio of 1.16 and a debt-to-equity ratio of 0.23. Rio Tinto Group has a 52-week low of $57.85 and a 52-week high of $74.24. The business’s fifty day moving average is $60.95 and its 200 day moving average is $63.48.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. Macquarie restated a “neutral” rating on shares of Rio Tinto Group in a research report on Wednesday, October 16th. Jefferies Financial Group dropped their target price on Rio Tinto Group from $83.00 to $73.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. Berenberg Bank upgraded Rio Tinto Group from a “hold” rating to a “buy” rating in a research report on Wednesday, October 2nd. Finally, StockNews.com upgraded Rio Tinto Group from a “buy” rating to a “strong-buy” rating in a research report on Friday, January 17th. Four equities research analysts have rated the stock with a hold rating, three have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $73.00.

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.