Rio Tinto Group (NYSE:RIO) Shares Sold by Kingswood Wealth Advisors LLC

Kingswood Wealth Advisors LLC lowered its stake in shares of Rio Tinto Group (NYSE:RIO) by 14.9% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,994 shares of the mining company’s stock after selling 1,227 shares during the quarter. Kingswood Wealth Advisors LLC’s holdings in Rio Tinto Group were worth $446,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Northwest Investment Counselors LLC acquired a new position in shares of Rio Tinto Group during the first quarter valued at $26,000. AdvisorNet Financial Inc increased its stake in shares of Rio Tinto Group by 785.7% in the fourth quarter. AdvisorNet Financial Inc now owns 372 shares of the mining company’s stock valued at $28,000 after purchasing an additional 330 shares during the period. Parkside Financial Bank & Trust raised its holdings in shares of Rio Tinto Group by 39.3% during the fourth quarter. Parkside Financial Bank & Trust now owns 553 shares of the mining company’s stock valued at $41,000 after buying an additional 156 shares during the last quarter. Financial Management Professionals Inc. boosted its position in shares of Rio Tinto Group by 250.6% during the fourth quarter. Financial Management Professionals Inc. now owns 617 shares of the mining company’s stock worth $46,000 after buying an additional 441 shares during the period. Finally, Bruce G. Allen Investments LLC bought a new position in Rio Tinto Group in the 4th quarter worth approximately $47,000. 19.33% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on RIO shares. Liberum Capital reaffirmed a “hold” rating on shares of Rio Tinto Group in a research note on Tuesday, March 5th. Berenberg Bank lowered shares of Rio Tinto Group from a “buy” rating to a “hold” rating in a research report on Thursday. StockNews.com raised shares of Rio Tinto Group from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, May 21st. Finally, Citigroup lowered shares of Rio Tinto Group from a “buy” rating to a “neutral” rating in a research note on Monday, May 20th. Four investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $72.00.

Rio Tinto Group Stock Down 1.5 %

NYSE RIO opened at $65.83 on Friday. Rio Tinto Group has a 12 month low of $58.27 and a 12 month high of $75.09. The company’s 50 day simple moving average is $68.85 and its 200 day simple moving average is $68.17. 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 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.