Rio Tinto Group (NYSE:RIO) Shares Purchased by Kestra Private Wealth Services LLC

Kestra Private Wealth Services LLC grew its stake in shares of Rio Tinto Group (NYSE:RIO) by 20.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 20,466 shares of the mining company’s stock after purchasing an additional 3,441 shares during the quarter. Kestra Private Wealth Services LLC’s holdings in Rio Tinto Group were worth $1,204,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Winch Advisory Services LLC acquired a new stake in Rio Tinto Group in the 3rd quarter valued at approximately $26,000. FSC Wealth Advisors LLC bought a new stake in shares of Rio Tinto Group during the third quarter valued at about $28,000. Thurston Springer Miller Herd & Titak Inc. lifted its holdings in Rio Tinto Group by 63.9% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 500 shares of the mining company’s stock worth $29,000 after purchasing an additional 195 shares during the period. Northwest Investment Counselors LLC bought a new position in Rio Tinto Group in the 3rd quarter valued at about $38,000. Finally, Golden State Wealth Management LLC acquired a new position in Rio Tinto Group during the 4th quarter valued at about $47,000. 19.33% of the stock is currently owned by institutional investors.

Rio Tinto Group Price Performance

RIO opened at $62.02 on Thursday. Rio Tinto Group has a fifty-two week low of $57.85 and a fifty-two week high of $74.24. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.70 and a quick ratio of 1.16. The business has a fifty day simple moving average of $60.66 and a 200-day simple moving average of $62.96.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on RIO shares. Macquarie reaffirmed a “neutral” rating on shares of Rio Tinto Group in a research note on Wednesday, October 16th. Jefferies Financial Group cut their target price on 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. Finally, StockNews.com cut Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a research report on Saturday, January 25th. Four investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Rio Tinto Group currently has an average rating of “Moderate Buy” and an average 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.