Octavia Wealth Advisors LLC Acquires New Shares in Rio Tinto Group (NYSE:RIO)

Octavia Wealth Advisors LLC acquired a new stake in shares of Rio Tinto Group (NYSE:RIO) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 4,810 shares of the mining company’s stock, valued at approximately $283,000.

Several other hedge funds also recently modified their holdings of the company. Atomi Financial Group Inc. boosted its holdings in shares of Rio Tinto Group by 2.8% during the 4th quarter. Atomi Financial Group Inc. now owns 12,383 shares of the mining company’s stock valued at $728,000 after acquiring an additional 342 shares in the last quarter. Crossmark Global Holdings Inc. boosted its holdings in shares of Rio Tinto Group by 1.3% during the 4th quarter. Crossmark Global Holdings Inc. now owns 90,671 shares of the mining company’s stock valued at $5,332,000 after acquiring an additional 1,205 shares in the last quarter. Royal Fund Management LLC boosted its holdings in shares of Rio Tinto Group by 51.3% during the 4th quarter. Royal Fund Management LLC now owns 35,203 shares of the mining company’s stock valued at $2,071,000 after acquiring an additional 11,931 shares in the last quarter. Mitchell & Pahl Private Wealth LLC boosted its holdings in shares of Rio Tinto Group by 7.7% during the 4th quarter. Mitchell & Pahl Private Wealth LLC now owns 13,799 shares of the mining company’s stock valued at $812,000 after acquiring an additional 984 shares in the last quarter. Finally, Ballentine Partners LLC boosted its holdings in shares of Rio Tinto Group by 66.8% during the 4th quarter. Ballentine Partners LLC now owns 5,514 shares of the mining company’s stock valued at $324,000 after acquiring an additional 2,209 shares in the last quarter. Institutional investors and hedge funds own 19.33% of the company’s stock.

Rio Tinto Group Stock Up 1.2 %

Shares of NYSE:RIO opened at $61.81 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. The business’s 50-day moving average is $60.95 and its 200-day moving average is $63.48. Rio Tinto Group has a 1 year low of $57.85 and a 1 year high of $74.24.

Analysts Set New Price Targets

Several research analysts have commented on RIO shares. Jefferies Financial Group cut their target price on Rio Tinto Group from $83.00 to $73.00 and set a “buy” rating on the stock in a report on Monday, January 6th. Macquarie reaffirmed a “neutral” rating on shares of Rio Tinto Group in a report on Wednesday, October 16th. Berenberg Bank raised Rio Tinto Group from a “hold” rating to a “buy” rating in a report on Wednesday, October 2nd. Finally, StockNews.com raised Rio Tinto Group from a “buy” rating to a “strong-buy” rating in a report on Friday, January 17th. Four analysts have rated the stock with a hold rating, three have assigned a buy rating and two have issued a strong buy rating to the stock. According to 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 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.