Abel Hall LLC Takes $375,000 Position in Rio Tinto Group (NYSE:RIO)

Abel Hall LLC purchased a new stake in Rio Tinto Group (NYSE:RIO) in the fourth quarter, Holdings Channel reports. The firm purchased 5,041 shares of the mining company’s stock, valued at approximately $375,000.

Other large investors have also made changes to their positions in the company. AdvisorNet Financial Inc grew its position in Rio Tinto Group by 785.7% in the fourth quarter. AdvisorNet Financial Inc now owns 372 shares of the mining company’s stock worth $28,000 after acquiring an additional 330 shares during the period. Parkside Financial Bank & Trust lifted its stake in Rio Tinto Group by 39.3% during the fourth quarter. Parkside Financial Bank & Trust now owns 553 shares of the mining company’s stock worth $41,000 after purchasing an additional 156 shares in the last quarter. Financial Management Professionals Inc. lifted its stake in Rio Tinto Group by 250.6% during the fourth quarter. Financial Management Professionals Inc. now owns 617 shares of the mining company’s stock worth $46,000 after purchasing an additional 441 shares in the last quarter. Bruce G. Allen Investments LLC acquired a new position in Rio Tinto Group during the fourth quarter worth $47,000. Finally, Bogart Wealth LLC lifted its stake in Rio Tinto Group by 279.3% during the fourth quarter. Bogart Wealth LLC now owns 679 shares of the mining company’s stock worth $51,000 after purchasing an additional 500 shares in the last quarter. 19.33% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Liberum Capital restated a “hold” rating on shares of Rio Tinto Group in a research note on Tuesday, March 5th. Citigroup cut Rio Tinto Group from a “buy” rating to a “neutral” rating in a research note on Monday, May 20th. Finally, StockNews.com upgraded Rio Tinto Group from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, May 21st. Three research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $72.00.

Rio Tinto Group Trading Down 0.6 %

Shares of NYSE RIO traded down $0.41 during mid-day trading on Friday, hitting $66.51. The company had a trading volume of 1,633,293 shares, compared to its average volume of 2,246,716. The company has a quick ratio of 1.17, a current ratio of 1.69 and a debt-to-equity ratio of 0.23. Rio Tinto Group has a 1-year low of $58.27 and a 1-year high of $75.09. The business’s 50-day simple moving average is $68.84 and its 200 day simple moving average is $68.34.

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.