Avidian Wealth Enterprises LLC Sells 1,290 Shares of Rio Tinto Group (NYSE:RIO)

Avidian Wealth Enterprises LLC trimmed its position in shares of Rio Tinto Group (NYSE:RIO) by 18.7% in the 3rd quarter, Holdings Channel.com reports. The firm owned 5,603 shares of the mining company’s stock after selling 1,290 shares during the quarter. Avidian Wealth Enterprises LLC’s holdings in Rio Tinto Group were worth $399,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also bought and sold shares of the company. Winch Advisory Services LLC purchased a new position in shares of Rio Tinto Group during the 3rd quarter valued at $26,000. GHP Investment Advisors Inc. bought a new stake in Rio Tinto Group in the 2nd quarter valued at about $26,000. FSC Wealth Advisors LLC purchased a new stake in Rio Tinto Group during the third quarter valued at about $28,000. Geneos Wealth Management Inc. boosted its position in Rio Tinto Group by 55.4% during the first quarter. Geneos Wealth Management Inc. now owns 415 shares of the mining company’s stock worth $26,000 after purchasing an additional 148 shares during the period. Finally, Sound Income Strategies LLC increased its stake in shares of Rio Tinto Group by 70.9% in the third quarter. Sound Income Strategies LLC now owns 417 shares of the mining company’s stock worth $30,000 after purchasing an additional 173 shares in the last quarter. 19.33% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages recently commented on RIO. Macquarie restated a “neutral” rating on shares of Rio Tinto Group in a research note on Wednesday, October 16th. StockNews.com upgraded Rio Tinto Group from a “buy” rating to a “strong-buy” rating in a research report on Friday, September 6th. HSBC upgraded Rio Tinto Group from a “hold” rating to a “buy” rating in a research report on Tuesday, July 23rd. Berenberg Bank raised Rio Tinto Group from a “hold” rating to a “buy” rating in a report on Wednesday, October 2nd. Finally, Hsbc Global Res raised Rio Tinto Group to a “strong-buy” rating in a report on Tuesday, July 23rd. Four equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy”.

Rio Tinto Group Trading Up 3.3 %

Rio Tinto Group stock opened at $67.48 on Friday. Rio Tinto Group has a fifty-two week low of $59.35 and a fifty-two week high of $75.09. The firm’s fifty day moving average price is $65.29 and its 200-day moving average price is $66.30. The company has a quick ratio of 1.16, a current ratio of 1.70 and a debt-to-equity ratio of 0.23.

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.