Tandem Financial LLC Buys New Holdings in Rio Tinto Group (NYSE:RIO)

Tandem Financial LLC acquired a new stake in Rio Tinto Group (NYSE:RIO) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 4,542 shares of the mining company’s stock, valued at approximately $267,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of RIO. AQR Capital Management LLC acquired a new position in shares of Rio Tinto Group during the 2nd quarter worth about $518,000. Mather Group LLC. raised its holdings in Rio Tinto Group by 87.5% during the third quarter. Mather Group LLC. now owns 2,967 shares of the mining company’s stock worth $211,000 after purchasing an additional 1,385 shares in the last quarter. Advocate Group LLC raised its holdings in Rio Tinto Group by 17.1% during the third quarter. Advocate Group LLC now owns 45,623 shares of the mining company’s stock worth $3,247,000 after purchasing an additional 6,667 shares in the last quarter. San Luis Wealth Advisors LLC lifted its position in shares of Rio Tinto Group by 132.3% during the 3rd quarter. San Luis Wealth Advisors LLC now owns 10,579 shares of the mining company’s stock worth $753,000 after buying an additional 6,025 shares during the last quarter. Finally, Fiduciary Financial Group LLC boosted its holdings in shares of Rio Tinto Group by 3.7% in the 3rd quarter. Fiduciary Financial Group LLC now owns 4,945 shares of the mining company’s stock valued at $330,000 after buying an additional 178 shares in 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 NYSE:RIO opened at $62.23 on Friday. Rio Tinto Group has a fifty-two week low of $57.85 and a fifty-two week high of $74.24. The firm’s 50-day simple moving average is $60.74 and its 200-day simple moving average is $63.02. The company has a quick ratio of 1.16, a current ratio of 1.70 and a debt-to-equity ratio of 0.23.

Analysts Set New Price Targets

Several equities research analysts recently commented on RIO shares. Macquarie reiterated a “neutral” rating on shares of Rio Tinto Group in a research note on Wednesday, October 16th. Jefferies Financial Group cut their target price on shares of Rio Tinto Group from $83.00 to $73.00 and set a “buy” rating on the stock in a report on Monday, January 6th. Finally, StockNews.com lowered Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a report on Saturday, January 25th. Four analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $73.00.

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.