Wedmont Private Capital Buys Shares of 3,242 Rio Tinto Group (NYSE:RIO)

Wedmont Private Capital purchased a new stake in shares of Rio Tinto Group (NYSE:RIO) during the first quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 3,242 shares of the mining company’s stock, valued at approximately $218,000.

A number of other large investors have also recently made changes to their positions in the stock. Walker Asset Management LLC purchased a new position in Rio Tinto Group in the first quarter worth about $217,000. Mather Group LLC. purchased a new position in shares of Rio Tinto Group in the first quarter worth approximately $76,000. Davis Capital Management increased its holdings in Rio Tinto Group by 24.3% during the first quarter. Davis Capital Management now owns 11,041 shares of the mining company’s stock valued at $709,000 after buying an additional 2,158 shares during the last quarter. Confluence Investment Management LLC bought a new position in Rio Tinto Group in the first quarter worth approximately $1,050,000. Finally, HighPoint Advisor Group LLC purchased a new position in shares of Rio Tinto Group during the 4th quarter worth $238,000. 19.33% of the stock is currently owned by institutional investors.

Rio Tinto Group Stock Performance

NYSE RIO opened at $66.40 on Monday. The company has a quick ratio of 1.17, a current ratio of 1.69 and a debt-to-equity ratio of 0.23. Rio Tinto Group has a twelve month low of $58.27 and a twelve month high of $75.09. The business has a 50-day moving average price of $68.84 and a 200-day moving average price of $68.23.

Wall Street Analyst Weigh In

A number of brokerages recently commented on RIO. StockNews.com raised Rio Tinto Group from a “buy” rating to a “strong-buy” rating in a report on Tuesday, May 21st. Liberum Capital reaffirmed a “hold” rating on shares of Rio Tinto Group in a research note on Tuesday, March 5th. Finally, Citigroup downgraded Rio Tinto Group from a “buy” rating to a “neutral” rating in a research note on Monday, May 20th. Three investment analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $72.00.

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.