Mount Yale Investment Advisors LLC Invests $479,000 in Rio Tinto Group (NYSE:RIO)

Mount Yale Investment Advisors LLC bought a new position in shares of Rio Tinto Group (NYSE:RIO) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 7,515 shares of the mining company’s stock, valued at approximately $479,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. AdvisorNet Financial Inc grew its position in Rio Tinto Group by 785.7% in the 4th quarter. AdvisorNet Financial Inc now owns 372 shares of the mining company’s stock worth $28,000 after purchasing an additional 330 shares in the last quarter. Northwest Investment Counselors LLC bought a new stake in Rio Tinto Group in the 1st quarter worth about $26,000. Geneos Wealth Management Inc. grew its position in Rio Tinto Group by 55.4% in the 1st quarter. Geneos Wealth Management Inc. now owns 415 shares of the mining company’s stock worth $26,000 after purchasing an additional 148 shares in the last quarter. YHB Investment Advisors Inc. bought a new stake in Rio Tinto Group in the 1st quarter worth about $29,000. Finally, Accordant Advisory Group Inc bought a new stake in Rio Tinto Group in the 1st quarter worth about $31,000. 19.33% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

RIO has been the subject of a number of recent analyst reports. Citigroup downgraded shares of Rio Tinto Group from a “buy” rating to a “neutral” rating in a research report on Monday, May 20th. StockNews.com raised shares of Rio Tinto Group from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, May 21st. Berenberg Bank cut shares of Rio Tinto Group from a “buy” rating to a “hold” rating in a research note on Thursday, June 27th. HSBC upgraded shares of Rio Tinto Group from a “hold” rating to a “buy” rating in a research note on Tuesday, July 23rd. Finally, Hsbc Global Res upgraded shares of Rio Tinto Group to a “strong-buy” rating in a research note on Tuesday, July 23rd. Four investment analysts have rated the stock with a hold rating, five have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy”.

Rio Tinto Group Stock Performance

Shares of NYSE:RIO traded down $0.36 during trading on Monday, reaching $64.70. The company had a trading volume of 2,097,580 shares, compared to its average volume of 2,686,145. The company has a fifty day moving average of $67.58 and a two-hundred day moving average of $67.10. Rio Tinto Group has a 12 month low of $58.27 and a 12 month high of $75.09. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.69 and a quick ratio of 1.17.

About Rio Tinto Group

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.