SteelPeak Wealth LLC Takes $11.81 Million Position in Rio Tinto Group (NYSE:RIO)

SteelPeak Wealth LLC bought a new position in shares of Rio Tinto Group (NYSE:RIOFree Report) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund bought 200,816 shares of the mining company’s stock, valued at approximately $11,810,000.

Several other large investors also recently bought and sold shares of RIO. Armstrong Advisory Group Inc. grew its position in shares of 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 worth $129,000 after buying an additional 159 shares in the last quarter. Sound Income Strategies LLC grew its holdings 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 acquiring an additional 173 shares in the last quarter. Concurrent Investment Advisors LLC grew its holdings in 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 worth $303,000 after acquiring an additional 175 shares in the last quarter. Fiduciary Financial Group LLC increased its position 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 purchasing an additional 178 shares during the last quarter. Finally, Stonegate Investment Group LLC raised its holdings in shares of Rio Tinto Group by 3.4% in the 3rd quarter. Stonegate Investment Group LLC now owns 5,467 shares of the mining company’s stock valued at $389,000 after purchasing an additional 179 shares in the last quarter. Hedge funds and other institutional investors own 19.33% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on RIO. Macquarie reiterated a “neutral” rating on shares of Rio Tinto Group in a research note on Wednesday, October 16th. Jefferies Financial Group lowered 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. Berenberg Bank raised Rio Tinto Group from a “hold” rating to a “buy” rating in a research report on Wednesday, October 2nd. Finally, StockNews.com downgraded Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a report on Saturday. Four equities research 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. Based on data from MarketBeat, Rio Tinto Group has a consensus rating of “Moderate Buy” and a consensus price target of $73.00.

Read Our Latest Report on RIO

Rio Tinto Group Price Performance

Rio Tinto Group stock opened at $59.84 on Wednesday. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.70 and a quick ratio of 1.16. Rio Tinto Group has a fifty-two week low of $57.85 and a fifty-two week high of $74.24. The stock has a 50-day simple moving average of $61.01 and a 200-day simple moving average of $63.28.

Rio Tinto Group Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Rio Tinto Group (NYSE:RIO)

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