Atomi Financial Group Inc. Has $728,000 Stock Position in Rio Tinto Group (NYSE:RIO)

Atomi Financial Group Inc. increased its position in shares of Rio Tinto Group (NYSE:RIO) by 2.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 12,383 shares of the mining company’s stock after purchasing an additional 342 shares during the quarter. Atomi Financial Group Inc.’s holdings in Rio Tinto Group were worth $728,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in RIO. Winch Advisory Services LLC bought a new stake in shares of Rio Tinto Group in the third quarter valued at approximately $26,000. FSC Wealth Advisors LLC bought a new position in shares of Rio Tinto Group in the 3rd quarter worth $28,000. Thurston Springer Miller Herd & Titak Inc. increased its holdings in shares of Rio Tinto Group by 63.9% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 500 shares of the mining company’s stock worth $29,000 after buying an additional 195 shares during the last quarter. Sound Income Strategies LLC boosted its stake 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 purchasing an additional 173 shares in the last quarter. Finally, Northwest Investment Counselors LLC purchased a new stake in shares of Rio Tinto Group in the 3rd quarter valued at $38,000. 19.33% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

RIO has been the subject of several research reports. Macquarie restated a “neutral” rating on shares of Rio Tinto Group in a report on Wednesday, October 16th. Berenberg Bank upgraded shares of Rio Tinto Group from a “hold” rating to a “buy” rating in a research note on Wednesday, October 2nd. Jefferies Financial Group dropped their price target on shares of Rio Tinto Group from $83.00 to $73.00 and set a “buy” rating on the stock in a report on Monday, January 6th. Finally, StockNews.com raised shares of 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 given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $73.00.

Rio Tinto Group Price Performance

Shares of NYSE:RIO opened at $61.56 on Friday. 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 1-year low of $57.85 and a 1-year high of $74.24. The company has a market capitalization of $77.13 billion, a P/E ratio of 9.27, a P/E/G ratio of 0.41 and a beta of 0.66. The firm’s 50 day simple moving average is $60.97 and its two-hundred day simple moving average is $63.42.

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.