Kingsview Wealth Management LLC Grows Holdings in Rio Tinto Group (NYSE:RIO)

Kingsview Wealth Management LLC boosted its holdings in Rio Tinto Group (NYSE:RIO) by 14.9% in the 3rd quarter, Holdings Channel reports. The firm owned 5,319 shares of the mining company’s stock after purchasing an additional 690 shares during the period. Kingsview Wealth Management LLC’s holdings in Rio Tinto Group were worth $379,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently bought and sold shares of the company. GHP Investment Advisors Inc. purchased a new stake in Rio Tinto Group in the 2nd quarter valued at $26,000. Winch Advisory Services LLC purchased a new stake in Rio Tinto Group in the 3rd quarter valued at $26,000. FSC Wealth Advisors LLC purchased a new position in Rio Tinto Group during the 3rd quarter worth $28,000. Sound Income Strategies LLC raised its position in Rio Tinto Group by 70.9% during the 3rd quarter. Sound Income Strategies LLC now owns 417 shares of the mining company’s stock worth $30,000 after buying an additional 173 shares during the last quarter. Finally, Centerpoint Advisors LLC raised its position in Rio Tinto Group by 110.0% during the 2nd quarter. Centerpoint Advisors LLC now owns 525 shares of the mining company’s stock worth $35,000 after buying an additional 275 shares during the last quarter. Hedge funds and other institutional investors own 19.33% of the company’s stock.

Rio Tinto Group Stock Up 0.5 %

NYSE:RIO opened at $62.32 on Friday. The company has a quick ratio of 1.16, a current ratio of 1.70 and a debt-to-equity ratio of 0.23. Rio Tinto Group has a fifty-two week low of $59.35 and a fifty-two week high of $75.09. The firm’s fifty day simple moving average is $65.48 and its 200-day simple moving average is $65.64.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Berenberg Bank upgraded shares of Rio Tinto Group from a “hold” rating to a “buy” rating in a research report on Wednesday, October 2nd. StockNews.com downgraded shares of Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, November 12th. Finally, Macquarie restated a “neutral” rating on shares of Rio Tinto Group in a research report on Wednesday, October 16th. Four equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Rio Tinto Group presently has an average rating of “Moderate Buy”.

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.