IHT Wealth Management LLC Makes New Investment in Rio Tinto Group (NYSE:RIO)

IHT Wealth Management LLC acquired a new position in Rio Tinto Group (NYSE:RIO) in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 3,257 shares of the mining company’s stock, valued at approximately $232,000.

A number of other large investors have also modified their holdings of the company. Bank of Montreal Can raised its holdings in Rio Tinto Group by 237.0% in the 2nd quarter. Bank of Montreal Can now owns 2,472,471 shares of the mining company’s stock worth $164,493,000 after purchasing an additional 1,738,752 shares during the period. Natixis Advisors LLC raised its stake in shares of Rio Tinto Group by 8.7% during the 2nd quarter. Natixis Advisors LLC now owns 695,731 shares of the mining company’s stock worth $45,870,000 after buying an additional 55,967 shares during the period. Philip James Wealth Mangement LLC acquired a new position in shares of Rio Tinto Group during the 3rd quarter worth approximately $1,345,000. Fisher Asset Management LLC raised its position in Rio Tinto Group by 2.9% during the third quarter. Fisher Asset Management LLC now owns 17,528,095 shares of the mining company’s stock worth $1,247,475,000 after acquiring an additional 485,731 shares during the period. Finally, Northwest Bancshares Inc. acquired a new position in Rio Tinto Group during the third quarter worth $1,440,000. Institutional investors and hedge funds own 19.33% of the company’s stock.

Analyst Ratings Changes

Several research firms recently weighed in on RIO. Berenberg Bank upgraded shares of Rio Tinto Group from a “hold” rating to a “buy” rating in a research report on Wednesday, October 2nd. Macquarie reissued a “neutral” rating on shares of Rio Tinto Group in a report on Wednesday, October 16th. Finally, StockNews.com cut Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a report on Tuesday, November 12th. Four investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Rio Tinto Group has an average rating of “Moderate Buy”.

Rio Tinto Group Trading Down 0.1 %

RIO stock opened at $64.82 on Wednesday. The company has a current ratio of 1.70, a quick ratio of 1.16 and a debt-to-equity ratio of 0.23. The firm has a 50-day moving average of $64.82 and a two-hundred day moving average of $65.14. Rio Tinto Group has a 12 month low of $59.35 and a 12 month high of $75.09.

Rio Tinto Group Company 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.