Legacy Wealth Asset Management LLC Acquires 270 Shares of Rio Tinto Group (NYSE:RIO)

Legacy Wealth Asset Management LLC lifted its holdings in shares of Rio Tinto Group (NYSE:RIO) by 3.6% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,834 shares of the mining company’s stock after purchasing an additional 270 shares during the period. Legacy Wealth Asset Management LLC’s holdings in Rio Tinto Group were worth $499,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Uncommon Cents Investing LLC boosted its holdings in Rio Tinto Group by 0.3% in the first quarter. Uncommon Cents Investing LLC now owns 56,265 shares of the mining company’s stock worth $3,586,000 after acquiring an additional 175 shares in the last quarter. Azzad Asset Management Inc. ADV boosted its holdings in Rio Tinto Group by 2.7% in the first quarter. Azzad Asset Management Inc. ADV now owns 21,053 shares of the mining company’s stock worth $1,342,000 after acquiring an additional 547 shares in the last quarter. Requisite Capital Management LLC boosted its position in shares of Rio Tinto Group by 25.4% during the first quarter. Requisite Capital Management LLC now owns 7,217 shares of the mining company’s stock valued at $479,000 after buying an additional 1,461 shares during the last quarter. Naviter Wealth LLC boosted its position in shares of Rio Tinto Group by 14.6% during the first quarter. Naviter Wealth LLC now owns 24,593 shares of the mining company’s stock valued at $1,629,000 after buying an additional 3,134 shares during the last quarter. Finally, MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH boosted its position in shares of Rio Tinto Group by 22.7% during the first quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 978,859 shares of the mining company’s stock valued at $62,392,000 after buying an additional 180,874 shares during the last quarter. Institutional investors own 19.33% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the company. Berenberg Bank cut Rio Tinto Group from a “buy” rating to a “hold” rating in a research report on Thursday, June 27th. Citigroup cut Rio Tinto Group from a “buy” rating to a “neutral” rating in a research report on Monday, May 20th. Finally, StockNews.com upgraded Rio Tinto Group from a “buy” rating to a “strong-buy” rating in a report on Tuesday, May 21st. Four investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy”.

Rio Tinto Group Price Performance

Shares of Rio Tinto Group stock opened at $67.90 on Friday. The business’s fifty day simple moving average is $68.78 and its 200 day simple moving average is $68.02. Rio Tinto Group has a 12 month low of $58.27 and a 12 month high of $75.09. The company has a current ratio of 1.69, a quick ratio of 1.17 and a debt-to-equity ratio of 0.23.

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.