Empowered Funds LLC Purchases 431 Shares of Rio Tinto Group (NYSE:RIO)

Empowered Funds LLC grew its position in shares of Rio Tinto Group (NYSE:RIO) by 13.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,567 shares of the mining company’s stock after buying an additional 431 shares during the quarter. Empowered Funds LLC’s holdings in Rio Tinto Group were worth $254,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Mount Yale Investment Advisors LLC acquired a new stake in shares of Rio Tinto Group in the first quarter valued at $479,000. Waverly Advisors LLC bought a new position in shares of Rio Tinto Group in the first quarter worth about $1,646,000. Bayesian Capital Management LP bought a new stake in shares of Rio Tinto Group during the first quarter valued at approximately $613,000. Dynasty Wealth Management LLC acquired a new stake in shares of Rio Tinto Group in the first quarter valued at approximately $552,000. Finally, B. Riley Wealth Advisors Inc. raised its position in Rio Tinto Group by 9.0% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 28,257 shares of the mining company’s stock worth $1,798,000 after purchasing an additional 2,337 shares during the last quarter. Institutional investors and hedge funds own 19.33% of the company’s stock.

Rio Tinto Group Stock Up 1.0 %

Shares of NYSE:RIO opened at $62.97 on Tuesday. The firm’s 50 day simple moving average is $65.57 and its 200 day simple moving average is $65.74. Rio Tinto Group has a fifty-two week low of $59.35 and a fifty-two week high of $75.09. The company has a current ratio of 1.70, a quick ratio of 1.16 and a debt-to-equity ratio of 0.23.

Analyst Ratings Changes

Several equities analysts recently issued reports on RIO shares. Berenberg Bank upgraded Rio Tinto Group from a “hold” rating to a “buy” rating in a report on Wednesday, October 2nd. Royal Bank of Canada upgraded shares of Rio Tinto Group to a “hold” rating in a research report on Wednesday, July 31st. StockNews.com lowered shares of Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a report on Tuesday, November 12th. Finally, Macquarie reaffirmed a “neutral” rating on shares of Rio Tinto Group in a report on Wednesday, October 16th. Four investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Rio Tinto Group presently has a consensus rating of “Moderate Buy”.

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.