Capital Advisors Inc. OK Raises Holdings in Rio Tinto Group (NYSE:RIO)

Capital Advisors Inc. OK increased its holdings in shares of Rio Tinto Group (NYSE:RIOGet Rating) by 25.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 235,581 shares of the mining company’s stock after acquiring an additional 47,873 shares during the period. Capital Advisors Inc. OK’s holdings in Rio Tinto Group were worth $18,941,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Professional Financial Advisors LLC purchased a new stake in shares of Rio Tinto Group during the 1st quarter worth $26,000. AdvisorNet Financial Inc boosted its holdings in Rio Tinto Group by 171.3% during the first quarter. AdvisorNet Financial Inc now owns 369 shares of the mining company’s stock worth $30,000 after buying an additional 233 shares in the last quarter. Sageworth Trust Co of South Dakota purchased a new stake in Rio Tinto Group during the fourth quarter worth about $39,000. Glassman Wealth Services grew its position in Rio Tinto Group by 25.9% during the first quarter. Glassman Wealth Services now owns 612 shares of the mining company’s stock worth $49,000 after buying an additional 126 shares during the period. Finally, JFS Wealth Advisors LLC increased its holdings in Rio Tinto Group by 413.6% in the first quarter. JFS Wealth Advisors LLC now owns 642 shares of the mining company’s stock valued at $52,000 after buying an additional 517 shares in the last quarter. Hedge funds and other institutional investors own 10.84% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on RIO. Royal Bank of Canada boosted their price target on Rio Tinto Group from GBX 5,300 ($63.86) to GBX 5,600 ($67.47) in a research note on Tuesday, April 19th. Berenberg Bank lowered their target price on Rio Tinto Group from GBX 4,200 ($50.60) to GBX 4,100 ($49.40) in a report on Monday, July 18th. Credit Suisse Group reaffirmed an “outperform” rating on shares of Rio Tinto Group in a research note on Wednesday, July 6th. Morgan Stanley cut shares of Rio Tinto Group from an “overweight” rating to an “equal weight” rating in a research note on Wednesday, June 22nd. Finally, The Goldman Sachs Group upgraded shares of Rio Tinto Group from a “neutral” rating to a “buy” rating in a report on Monday, April 11th. Four research analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $4,211.67.

Rio Tinto Group Trading Up 0.1 %

Shares of NYSE RIO traded up $0.03 during midday trading on Thursday, reaching $59.45. 117,818 shares of the stock were exchanged, compared to its average volume of 4,217,966. The stock has a 50 day moving average price of $64.99 and a 200-day moving average price of $71.90. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.50 and a current ratio of 1.93. Rio Tinto Group has a 52-week low of $53.83 and a 52-week high of $89.51.

About Rio Tinto Group

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Rio Tinto Group engages in exploring, mining, and processing mineral resources worldwide. The company offers aluminum, copper, diamonds, gold, borates, titanium dioxide, salt, iron ore, and lithium. It also owns and operates open pit and underground mines, mills, refineries, smelters, power stations, and research and service facilities.

Further Reading

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Institutional Ownership by Quarter for Rio Tinto Group (NYSE:RIO)

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