Avidian Wealth Enterprises LLC Buys 476 Shares of Rio Tinto Group (NYSE:RIO)

Avidian Wealth Enterprises LLC boosted its stake in shares of Rio Tinto Group (NYSE:RIO) by 8.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,079 shares of the mining company’s stock after acquiring an additional 476 shares during the period. Avidian Wealth Enterprises LLC’s holdings in Rio Tinto Group were worth $357,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Winch Advisory Services LLC bought a new position in Rio Tinto Group during the 3rd quarter worth $26,000. FSC Wealth Advisors LLC bought a new position in Rio Tinto Group during the 3rd quarter worth $28,000. Thurston Springer Miller Herd & Titak Inc. increased its stake in Rio Tinto Group by 63.9% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 500 shares of the mining company’s stock worth $29,000 after acquiring an additional 195 shares during the period. Northwest Investment Counselors LLC bought a new position in Rio Tinto Group during the 3rd quarter worth $38,000. Finally, Godsey & Gibb Inc. bought a new position in Rio Tinto Group during the 3rd quarter worth $50,000. Institutional investors own 19.33% of the company’s stock.

Rio Tinto Group Trading Up 2.1 %

Shares of RIO stock opened at $63.35 on Friday. 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 has a fifty-two week low of $57.85 and a fifty-two week high of $74.24. The stock’s fifty day moving average price is $60.63 and its two-hundred day moving average price is $62.95.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on RIO shares. Jefferies Financial Group reduced their target price on Rio Tinto Group from $83.00 to $73.00 and set a “buy” rating on the stock in a report on Monday, January 6th. StockNews.com downgraded Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a report on Saturday, January 25th. Four research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Rio Tinto Group currently has a consensus rating of “Moderate Buy” and a consensus price target of $73.00.

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.