Wealth Enhancement Advisory Services LLC Acquires 12,861 Shares of Rio Tinto Group (NYSE:RIO)

Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Rio Tinto Group (NYSE:RIO) by 27.3% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 59,933 shares of the mining company’s stock after purchasing an additional 12,861 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Rio Tinto Group were worth $4,265,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in RIO. Geneos Wealth Management Inc. boosted its holdings in shares of Rio Tinto Group by 55.4% during the 1st quarter. Geneos Wealth Management Inc. now owns 415 shares of the mining company’s stock worth $26,000 after buying an additional 148 shares in the last quarter. GHP Investment Advisors Inc. acquired a new position in shares of Rio Tinto Group during the 2nd quarter valued at $26,000. Winch Advisory Services LLC bought a new position in Rio Tinto Group during the third quarter worth $26,000. FSC Wealth Advisors LLC bought a new stake in Rio Tinto Group in the third quarter valued at $28,000. Finally, Sound Income Strategies LLC raised its holdings in shares of Rio Tinto Group by 70.9% during the third quarter. Sound Income Strategies LLC now owns 417 shares of the mining company’s stock valued at $30,000 after purchasing an additional 173 shares during the period. Institutional investors and hedge funds own 19.33% of the company’s stock.

Rio Tinto Group Trading Down 1.5 %

Shares of RIO stock opened at $64.89 on Friday. The company has a current ratio of 1.70, a quick ratio of 1.16 and a debt-to-equity ratio of 0.23. The firm has a 50-day moving average of $65.15 and a 200-day moving average of $66.34. Rio Tinto Group has a one year low of $59.35 and a one year high of $75.09.

Analysts Set New Price Targets

RIO has been the subject of several research reports. HSBC upgraded Rio Tinto Group from a “hold” rating to a “buy” rating in a research note on Tuesday, July 23rd. Berenberg Bank upgraded Rio Tinto Group from a “hold” rating to a “buy” rating in a report on Wednesday, October 2nd. Macquarie reissued a “neutral” rating on shares of Rio Tinto Group in a research report on Wednesday, October 16th. Royal Bank of Canada upgraded shares of Rio Tinto Group to a “hold” rating in a report on Wednesday, July 31st. Finally, Hsbc Global Res upgraded shares of Rio Tinto Group to a “strong-buy” rating in a report on Tuesday, July 23rd. Four investment analysts have rated the stock with a hold rating, four have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, Rio Tinto Group presently has a consensus rating of “Moderate Buy”.

Rio Tinto Group Company 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.