H D Vest Advisory Services boosted its stake in shares of Rio Tinto plc ADR (NYSE:RIO) by 12.0% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 18,532 shares of the mining company’s stock after acquiring an additional 1,984 shares during the quarter. H D Vest Advisory Services’ holdings in Rio Tinto were worth $1,155,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds also recently modified their holdings of the company. Personal Wealth Partners purchased a new stake in Rio Tinto in the 2nd quarter worth approximately $25,000. Financial Gravity Wealth Inc. purchased a new stake in Rio Tinto in the 1st quarter worth approximately $29,000. Liberty Wealth Management LLC lifted its holdings in Rio Tinto by 238.6% in the 2nd quarter. Liberty Wealth Management LLC now owns 491 shares of the mining company’s stock worth $31,000 after buying an additional 346 shares during the period. Arrow Financial Corp purchased a new stake in Rio Tinto in the 2nd quarter worth approximately $34,000. Finally, FinTrust Capital Advisors LLC lifted its holdings in Rio Tinto by 234.1% in the 2nd quarter. FinTrust Capital Advisors LLC now owns 568 shares of the mining company’s stock worth $35,000 after buying an additional 398 shares during the period. Institutional investors own 8.71% of the company’s stock.
Several research firms have weighed in on RIO. BMO Capital Markets cut Rio Tinto from an “outperform” rating to a “market perform” rating in a report on Thursday, June 27th. UBS Group reiterated a “neutral” rating on shares of Rio Tinto in a report on Friday, June 14th. Zacks Investment Research cut Rio Tinto from a “buy” rating to a “hold” rating in a report on Thursday, August 8th. Credit Suisse Group cut Rio Tinto from a “neutral” rating to an “underperform” rating in a report on Wednesday, July 24th. Finally, JPMorgan Chase & Co. upgraded Rio Tinto from a “neutral” rating to an “overweight” rating in a report on Tuesday, August 13th. Eight research analysts have rated the stock with a sell rating, ten have issued a hold rating and three have issued a buy rating to the stock. Rio Tinto presently has a consensus rating of “Hold” and a consensus target price of $59.77.
Rio Tinto Company Profile
Rio Tinto Group engages in finding, mining, and processing mineral resources worldwide. The company offers aluminium, silver, molybdenum, copper, diamonds, gold, borates, titanium dioxide, salt, iron ore, and uranium. It is also involved in the alumina production; primary aluminium smelting; bauxite mining; alumina refining; and ilmenite mining, as well as provision of gypsum.
Further Reading: Oversold
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