Rio Tinto Group (NYSE:RIO) Shares Purchased by Legacy Wealth Asset Management LLC

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

A number of other institutional investors also recently bought and sold shares of the business. Northwest Investment Counselors LLC purchased a new position in shares of Rio Tinto Group during the 1st quarter valued at approximately $26,000. AdvisorNet Financial Inc increased its stake in Rio Tinto Group by 785.7% during the fourth quarter. AdvisorNet Financial Inc now owns 372 shares of the mining company’s stock worth $28,000 after purchasing an additional 330 shares during the period. Parkside Financial Bank & Trust boosted its holdings in Rio Tinto Group by 39.3% in the fourth quarter. Parkside Financial Bank & Trust now owns 553 shares of the mining company’s stock valued at $41,000 after purchasing an additional 156 shares in the last quarter. Financial Management Professionals Inc. boosted its holdings in Rio Tinto Group by 250.6% in the fourth quarter. Financial Management Professionals Inc. now owns 617 shares of the mining company’s stock valued at $46,000 after purchasing an additional 441 shares in the last quarter. Finally, Bruce G. Allen Investments LLC acquired a new position in Rio Tinto Group in the fourth quarter valued at approximately $47,000. 19.33% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on RIO shares. StockNews.com upgraded Rio Tinto Group from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, May 21st. Berenberg Bank cut Rio Tinto Group from a “buy” rating to a “hold” rating in a research report on Thursday, June 27th. Finally, Citigroup cut Rio Tinto Group from a “buy” rating to a “neutral” rating in a report on Monday, May 20th. Four equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Rio Tinto Group has a consensus rating of “Moderate Buy”.

Rio Tinto Group Stock Performance

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

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.