HHM Wealth Advisors LLC Takes Position in Rio Tinto Group (NYSE:RIO)

HHM Wealth Advisors LLC bought a new position in shares of Rio Tinto Group (NYSE:RIO) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm bought 849 shares of the mining company’s stock, valued at approximately $50,000.

A number of other hedge funds have also made changes to their positions in RIO. AQR Capital Management LLC bought a new position in shares of Rio Tinto Group in the second quarter valued at approximately $518,000. Sanctuary Advisors LLC acquired a new position in Rio Tinto Group in the second quarter worth $1,910,000. Azzad Asset Management Inc. ADV boosted its stake in Rio Tinto Group by 2.1% in the third quarter. Azzad Asset Management Inc. ADV now owns 22,153 shares of the mining company’s stock worth $1,577,000 after purchasing an additional 458 shares in the last quarter. MKT Advisors LLC grew its holdings in shares of Rio Tinto Group by 19.8% during the third quarter. MKT Advisors LLC now owns 4,390 shares of the mining company’s stock worth $311,000 after purchasing an additional 725 shares during the last quarter. Finally, Mather Group LLC. increased its stake in shares of Rio Tinto Group by 87.5% in the third quarter. Mather Group LLC. now owns 2,967 shares of the mining company’s stock valued at $211,000 after buying an additional 1,385 shares in the last quarter. Institutional investors and hedge funds own 19.33% of the company’s stock.

Analyst Ratings Changes

RIO has been the subject of several research analyst reports. Jefferies Financial Group dropped their price objective on shares of Rio Tinto Group from $83.00 to $73.00 and set a “buy” rating for the company in a research report on Monday, January 6th. StockNews.com cut Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a report on Saturday, January 25th. Finally, Macquarie restated a “neutral” rating on shares of Rio Tinto Group in a research report on Wednesday, October 16th. Four investment analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Rio Tinto Group has a consensus rating of “Moderate Buy” and a consensus target price of $73.00.

Rio Tinto Group Stock Down 0.9 %

RIO stock opened at $59.85 on Tuesday. Rio Tinto Group has a twelve month low of $57.85 and a twelve month high of $74.24. The business has a 50 day moving average price of $60.83 and a two-hundred day moving average price of $63.08. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.16 and a current ratio of 1.70.

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.