IHT Wealth Management LLC Buys Shares of 3,257 Rio Tinto Group (NYSE:RIO)

IHT Wealth Management LLC acquired a new stake in Rio Tinto Group (NYSE:RIO) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,257 shares of the mining company’s stock, valued at approximately $232,000.

A number of other hedge funds have also recently modified their holdings of the company. Sequoia Financial Advisors LLC grew its stake in shares of Rio Tinto Group by 2.4% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 9,717 shares of the mining company’s stock valued at $641,000 after buying an additional 229 shares during the period. Wealth Enhancement Advisory Services LLC grew its position in Rio Tinto Group by 5.4% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 47,072 shares of the mining company’s stock worth $3,103,000 after acquiring an additional 2,426 shares during the period. 180 Wealth Advisors LLC grew its holdings in shares of Rio Tinto Group by 9.9% during the 2nd quarter. 180 Wealth Advisors LLC now owns 6,928 shares of the mining company’s stock worth $472,000 after purchasing an additional 626 shares during the period. Fiduciary Financial Group LLC purchased a new position in shares of Rio Tinto Group during the 2nd quarter worth $316,000. Finally, Ellsworth Advisors LLC grew its holdings in shares of Rio Tinto Group by 13.5% during the 2nd quarter. Ellsworth Advisors LLC now owns 8,468 shares of the mining company’s stock worth $558,000 after purchasing an additional 1,006 shares during the period. Hedge funds and other institutional investors own 19.33% of the company’s stock.

Rio Tinto Group Price Performance

Shares of Rio Tinto Group stock opened at $64.82 on Wednesday. The business has a 50-day moving average of $64.82 and a 200 day moving average of $65.14. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.16 and a current ratio of 1.70. Rio Tinto Group has a 12 month low of $59.35 and a 12 month high of $75.09.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on RIO. StockNews.com lowered shares of Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, November 12th. Macquarie reaffirmed a “neutral” rating on shares of Rio Tinto Group in a research report on Wednesday, October 16th. Finally, Berenberg Bank raised shares of Rio Tinto Group from a “hold” rating to a “buy” rating in a research report on Wednesday, October 2nd. Four analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy”.

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.