Tandem Financial LLC Buys Shares of 4,542 Rio Tinto Group (NYSE:RIO)

Tandem Financial LLC purchased a new stake in Rio Tinto Group (NYSE:RIO) in the fourth quarter, Holdings Channel.com reports. The fund purchased 4,542 shares of the mining company’s stock, valued at approximately $267,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. AQR Capital Management LLC acquired a new position in Rio Tinto Group during the second quarter worth about $518,000. Mather Group LLC. boosted its stake in shares of Rio Tinto Group by 87.5% during the 3rd quarter. Mather Group LLC. now owns 2,967 shares of the mining company’s stock worth $211,000 after acquiring an additional 1,385 shares in the last quarter. Advocate Group LLC grew its holdings in shares of Rio Tinto Group by 17.1% in the 3rd quarter. Advocate Group LLC now owns 45,623 shares of the mining company’s stock worth $3,247,000 after acquiring an additional 6,667 shares during the period. San Luis Wealth Advisors LLC increased its stake in Rio Tinto Group by 132.3% in the 3rd quarter. San Luis Wealth Advisors LLC now owns 10,579 shares of the mining company’s stock valued at $753,000 after purchasing an additional 6,025 shares in the last quarter. Finally, Fiduciary Financial Group LLC raised its holdings in Rio Tinto Group by 3.7% during the third quarter. Fiduciary Financial Group LLC now owns 4,945 shares of the mining company’s stock worth $330,000 after purchasing an additional 178 shares during the last quarter. Institutional investors and hedge funds own 19.33% of the company’s stock.

Rio Tinto Group Trading Up 1.4 %

Shares of RIO stock opened at $62.23 on Friday. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.70 and a quick ratio of 1.16. The firm has a 50-day moving average price of $60.74 and a 200 day moving average price of $63.02. Rio Tinto Group has a twelve month low of $57.85 and a twelve month high of $74.24.

Analyst Upgrades and Downgrades

Several research firms have weighed in on RIO. 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 downgraded shares of Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a report on Saturday, January 25th. 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, four have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Rio Tinto Group currently has a consensus rating of “Moderate Buy” and a consensus 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.