Legacy Wealth Asset Management LLC Decreases Holdings in Rio Tinto Group (NYSE:RIO)

Legacy Wealth Asset Management LLC lowered its stake in shares of Rio Tinto Group (NYSE:RIO) by 2.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,875 shares of the mining company’s stock after selling 204 shares during the period. Legacy Wealth Asset Management LLC’s holdings in Rio Tinto Group were worth $463,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Winch Advisory Services LLC purchased a new stake in Rio Tinto Group during the 3rd quarter worth approximately $26,000. FSC Wealth Advisors LLC purchased a new stake in shares of Rio Tinto Group during the third quarter worth approximately $28,000. Sound Income Strategies LLC raised its stake in Rio Tinto Group by 70.9% in the 3rd quarter. Sound Income Strategies LLC now owns 417 shares of the mining company’s stock valued at $30,000 after purchasing an additional 173 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. lifted its holdings in Rio Tinto Group by 63.9% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 500 shares of the mining company’s stock valued at $29,000 after purchasing an additional 195 shares in the last quarter. Finally, Northwest Investment Counselors LLC purchased a new stake in shares of Rio Tinto Group during the third quarter worth $38,000. Institutional investors and hedge funds own 19.33% of the company’s stock.

Rio Tinto Group Stock Performance

Shares of NYSE RIO opened at $61.00 on Friday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.16 and a current ratio of 1.70. The company has a 50 day simple moving average of $61.05 and a 200-day simple moving average of $63.61. Rio Tinto Group has a 1 year low of $57.85 and a 1 year high of $74.24.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on RIO. Macquarie restated a “neutral” rating on shares of Rio Tinto Group in a research report on Wednesday, October 16th. Jefferies Financial Group lowered 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 upgraded Rio Tinto Group from a “buy” rating to a “strong-buy” rating in a research report on Friday. Finally, Berenberg Bank upgraded Rio Tinto Group from a “hold” rating to a “buy” rating in a research report on Wednesday, October 2nd. Four analysts have rated the stock with a hold rating, three have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, Rio Tinto Group currently has an average rating of “Moderate Buy” and an average target price 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.