Financial Advocates Investment Management Buys Shares of 2,898 Rio Tinto Group (NYSE:RIO)

Financial Advocates Investment Management bought a new stake in Rio Tinto Group (NYSE:RIO) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 2,898 shares of the mining company’s stock, valued at approximately $216,000.

A number of other institutional investors also recently bought and sold shares of RIO. US Bancorp DE lifted its holdings in Rio Tinto Group by 0.4% in the third quarter. US Bancorp DE now owns 121,407 shares of the mining company’s stock valued at $7,726,000 after acquiring an additional 528 shares during the period. Signaturefd LLC increased its position in Rio Tinto Group by 11.3% in the third quarter. Signaturefd LLC now owns 22,474 shares of the mining company’s stock worth $1,430,000 after buying an additional 2,285 shares in the last quarter. NBC Securities Inc. purchased a new stake in Rio Tinto Group in the third quarter worth about $59,000. Lincoln National Corp increased its position in Rio Tinto Group by 10.9% in the third quarter. Lincoln National Corp now owns 9,525 shares of the mining company’s stock worth $606,000 after buying an additional 937 shares in the last quarter. Finally, LGT Fund Management Co Ltd. increased its position in Rio Tinto Group by 8.6% in the third quarter. LGT Fund Management Co Ltd. now owns 29,000 shares of the mining company’s stock worth $1,818,000 after buying an additional 2,300 shares in the last quarter. Institutional investors own 19.33% of the company’s stock.

Analyst Upgrades and Downgrades

RIO has been the subject of a number of analyst reports. Citigroup cut Rio Tinto Group from a “buy” rating to a “neutral” rating in a research report on Monday. StockNews.com upgraded Rio Tinto Group from a “buy” rating to a “strong-buy” rating in a research report on Tuesday. Finally, Liberum Capital reiterated a “hold” rating on shares of Rio Tinto Group in a research report on Tuesday, March 5th. Three analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $72.00.

Rio Tinto Group Stock Performance

NYSE:RIO opened at $72.21 on Thursday. The company has a current ratio of 1.69, a quick ratio of 1.17 and a debt-to-equity ratio of 0.23. Rio Tinto Group has a 12-month low of $58.27 and a 12-month high of $75.09. The stock has a 50-day moving average price of $66.89 and a 200 day moving average price of $68.17.

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.