Cadence Wealth Management LLC increased its stake in shares of Rio Tinto Group (NYSE:RIO – Free Report) by 4.1% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 12,201 shares of the mining company’s stock after acquiring an additional 481 shares during the period. Rio Tinto Group accounts for 0.5% of Cadence Wealth Management LLC’s holdings, making the stock its 21st largest position. Cadence Wealth Management LLC’s holdings in Rio Tinto Group were worth $718,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors have also recently bought and sold shares of RIO. Huntington National Bank increased its holdings in Rio Tinto Group by 11.3% during the 3rd quarter. Huntington National Bank now owns 2,345 shares of the mining company’s stock valued at $167,000 after purchasing an additional 239 shares in the last quarter. Empowered Funds LLC increased its holdings in Rio Tinto Group by 13.7% during the 3rd quarter. Empowered Funds LLC now owns 3,567 shares of the mining company’s stock valued at $254,000 after purchasing an additional 431 shares in the last quarter. Thrivent Financial for Lutherans increased its holdings in Rio Tinto Group by 11.1% during the 3rd quarter. Thrivent Financial for Lutherans now owns 30,275 shares of the mining company’s stock valued at $2,155,000 after purchasing an additional 3,017 shares in the last quarter. Baron Wealth Management LLC acquired a new stake in Rio Tinto Group during the 3rd quarter valued at $202,000. Finally, Northwest Bancshares Inc. acquired a new stake in Rio Tinto Group during the 3rd quarter valued at $1,440,000. 19.33% of the stock is owned by institutional investors and hedge funds.
Rio Tinto Group Stock Up 0.6 %
Shares of Rio Tinto Group stock opened at $63.44 on Tuesday. The company has a quick ratio of 1.16, a current ratio of 1.63 and a debt-to-equity ratio of 0.23. Rio Tinto Group has a 12 month low of $57.85 and a 12 month high of $74.24. The business has a fifty day simple moving average of $61.53 and a 200 day simple moving average of $62.84. The stock has a market cap of $79.49 billion, a PE ratio of 9.84, a price-to-earnings-growth ratio of 0.42 and a beta of 0.60.
Rio Tinto Group Increases Dividend
Analyst Ratings Changes
RIO has been the subject of several research reports. Jefferies Financial Group lowered their target price on Rio Tinto Group from $83.00 to $73.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Clarkson Capital raised Rio Tinto Group to a “strong-buy” rating in a research note on Friday, February 28th. Finally, StockNews.com cut Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a research note on Saturday, February 22nd. Three equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Rio Tinto Group has an average rating of “Moderate Buy” and an average price target of $73.00.
View Our Latest Stock Report on RIO
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.
Further Reading
- Five stocks we like better than Rio Tinto Group
- What Does a Gap Up Mean in Stocks? How to Play the Gap
- Can TikTok Stock Picks Really Make You Rich?
- Best Stocks Under $10.00
- The “Quality” Rotation: Back to Basics Investing
- 3 Dividend Kings To Consider
- Occidental Petroleum: 4 Reasons to Love These Prices
Want to see what other hedge funds are holding RIO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Rio Tinto Group (NYSE:RIO – Free Report).
Receive News & Ratings for Rio Tinto Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Rio Tinto Group and related companies with MarketBeat.com's FREE daily email newsletter.