800 Shares in Rio Tinto Group (NYSE:RIO) Acquired by Golden State Wealth Management LLC

Golden State Wealth Management LLC bought a new stake in shares of Rio Tinto Group (NYSE:RIO) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 800 shares of the mining company’s stock, valued at approximately $47,000.

A number of other institutional investors and hedge funds have also modified their holdings of RIO. Armstrong Advisory Group Inc. lifted its position in Rio Tinto Group by 9.6% during the third quarter. Armstrong Advisory Group Inc. now owns 1,808 shares of the mining company’s stock valued at $129,000 after purchasing an additional 159 shares during the period. Sound Income Strategies LLC lifted its holdings in shares of Rio Tinto Group by 70.9% during the 3rd quarter. Sound Income Strategies LLC now owns 417 shares of the mining company’s stock valued at $30,000 after buying an additional 173 shares during the period. Concurrent Investment Advisors LLC grew its stake in shares of Rio Tinto Group by 4.3% during the 3rd quarter. Concurrent Investment Advisors LLC now owns 4,261 shares of the mining company’s stock valued at $303,000 after purchasing an additional 175 shares during the period. Stonegate Investment Group LLC grew its position in Rio Tinto Group by 3.4% during the third quarter. Stonegate Investment Group LLC now owns 5,467 shares of the mining company’s stock valued at $389,000 after buying an additional 179 shares during the period. Finally, Thurston Springer Miller Herd & Titak Inc. increased its stake in shares of 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 worth $29,000 after purchasing an additional 195 shares in the last quarter. Institutional investors own 19.33% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently commented on RIO. StockNews.com downgraded Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a research note on Saturday, January 25th. Macquarie reaffirmed a “neutral” rating on shares of Rio Tinto Group in a report on Wednesday, October 16th. Finally, Jefferies Financial Group reduced their price objective on shares of Rio Tinto Group from $83.00 to $73.00 and set a “buy” rating for the company in a research note on Monday, January 6th. 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 data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $73.00.

Rio Tinto Group Price Performance

RIO stock opened at $61.65 on Wednesday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.16 and a current ratio of 1.70. Rio Tinto Group has a 1-year low of $57.85 and a 1-year high of $74.24. The business has a 50 day simple moving average of $60.70 and a two-hundred day simple moving average of $62.98.

About Rio Tinto Group

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.