Newbridge Financial Services Group Inc. Takes Position in Rio Tinto Group (NYSE:RIO)

Newbridge Financial Services Group Inc. acquired a new position in Rio Tinto Group (NYSE:RIO) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 997 shares of the mining company’s stock, valued at approximately $59,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Kestra Private Wealth Services LLC grew its holdings in Rio Tinto Group by 20.2% during the 4th quarter. Kestra Private Wealth Services LLC now owns 20,466 shares of the mining company’s stock worth $1,204,000 after acquiring an additional 3,441 shares during the period. Stephens Inc. AR increased its stake in shares of Rio Tinto Group by 3.7% in the 4th quarter. Stephens Inc. AR now owns 55,673 shares of the mining company’s stock valued at $3,274,000 after acquiring an additional 1,980 shares during the last quarter. Empowered Funds LLC raised its position in shares of Rio Tinto Group by 39.9% in the 4th quarter. Empowered Funds LLC now owns 4,992 shares of the mining company’s stock valued at $294,000 after acquiring an additional 1,425 shares during the period. Advisory Resource Group increased its stake in Rio Tinto Group by 4.0% in the fourth quarter. Advisory Resource Group now owns 17,479 shares of the mining company’s stock valued at $1,028,000 after purchasing an additional 667 shares in the last quarter. Finally, Forbes J M & Co. LLP raised its holdings in Rio Tinto Group by 0.6% in the fourth quarter. Forbes J M & Co. LLP now owns 89,883 shares of the mining company’s stock worth $5,286,000 after purchasing an additional 568 shares during the period. 19.33% of the stock is owned by institutional investors.

Rio Tinto Group Stock Performance

Shares of NYSE RIO opened at $62.23 on Tuesday. Rio Tinto Group has a twelve month low of $57.85 and a twelve month high of $74.24. The business’s 50 day moving average price is $60.72 and its two-hundred day moving average price is $62.99. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.70 and a quick ratio of 1.16.

Analyst Ratings Changes

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