FORA Capital LLC Buys New Position in Rio Tinto Group (NYSE:RIO)

FORA Capital LLC purchased a new position in Rio Tinto Group (NYSE:RIO) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 22,987 shares of the mining company’s stock, valued at approximately $1,636,000.

Other large investors have also modified their holdings of the company. Winch Advisory Services LLC acquired a new stake in Rio Tinto Group in the 3rd quarter worth approximately $26,000. GHP Investment Advisors Inc. purchased a new stake in shares of Rio Tinto Group during the second quarter valued at $26,000. FSC Wealth Advisors LLC purchased a new stake in shares of Rio Tinto Group during the third quarter valued at $28,000. Sound Income Strategies LLC increased its position in shares of Rio Tinto Group by 70.9% in the 3rd quarter. Sound Income Strategies LLC now owns 417 shares of the mining company’s stock valued at $30,000 after acquiring an additional 173 shares during the period. Finally, Centerpoint Advisors LLC lifted its position in Rio Tinto Group by 110.0% during the 2nd quarter. Centerpoint Advisors LLC now owns 525 shares of the mining company’s stock worth $35,000 after acquiring an additional 275 shares during the period. Hedge funds and other institutional investors own 19.33% of the company’s stock.

Rio Tinto Group Price Performance

NYSE:RIO opened at $62.32 on Thursday. The company has a quick ratio of 1.16, a current ratio of 1.70 and a debt-to-equity ratio of 0.23. The company has a 50 day moving average price of $65.54 and a 200-day moving average price of $65.66. Rio Tinto Group has a 1-year low of $59.35 and a 1-year high of $75.09.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on RIO shares. Royal Bank of Canada raised Rio Tinto Group to a “hold” rating in a report on Wednesday, July 31st. StockNews.com lowered shares of Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, November 12th. Macquarie reaffirmed a “neutral” rating on shares of Rio Tinto Group in a report on Wednesday, October 16th. Finally, Berenberg Bank raised shares of Rio Tinto Group from a “hold” rating to a “buy” rating in a report on Wednesday, October 2nd. Four research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Rio Tinto Group has a consensus rating of “Moderate Buy”.

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.