Baron Wealth Management LLC Invests $202,000 in Rio Tinto Group (NYSE:RIO)

Baron Wealth Management LLC acquired a new stake in Rio Tinto Group (NYSE:RIO) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 2,837 shares of the mining company’s stock, valued at approximately $202,000.

A number of other institutional investors also recently bought and sold shares of RIO. Winch Advisory Services LLC purchased a new position in shares of Rio Tinto Group in the third quarter worth $26,000. GHP Investment Advisors Inc. purchased a new position in Rio Tinto Group in the 2nd quarter worth $26,000. FSC Wealth Advisors LLC acquired a new stake in Rio Tinto Group during the 3rd quarter worth about $28,000. Sound Income Strategies LLC grew its stake 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 valued at $30,000 after purchasing an additional 173 shares during the last quarter. Finally, Centerpoint Advisors LLC increased its holdings in shares of Rio Tinto Group by 110.0% in the second quarter. Centerpoint Advisors LLC now owns 525 shares of the mining company’s stock valued at $35,000 after purchasing an additional 275 shares during the period. 19.33% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. Berenberg Bank upgraded Rio Tinto Group from a “hold” rating to a “buy” rating in a research report on Wednesday, October 2nd. Macquarie reaffirmed a “neutral” rating on shares of Rio Tinto Group in a report on Wednesday, October 16th. StockNews.com cut shares of Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a report on Tuesday, November 12th. Hsbc Global Res raised shares of Rio Tinto Group to a “strong-buy” rating in a report on Tuesday, July 23rd. Finally, Royal Bank of Canada upgraded Rio Tinto Group to a “hold” rating in a research note on Wednesday, July 31st. Four research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy”.

Rio Tinto Group Trading Up 0.5 %

RIO stock opened at $62.42 on Wednesday. Rio Tinto Group has a one year low of $59.35 and a one year high of $75.09. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.16 and a current ratio of 1.70. The firm’s fifty day moving average is $65.54 and its 200 day moving average is $65.94.

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.