Hohimer Wealth Management LLC Buys 831 Shares of Rio Tinto Group (NYSE:RIO)

Hohimer Wealth Management LLC raised its stake in Rio Tinto Group (NYSE:RIO) by 5.7% in the 4th quarter, HoldingsChannel reports. The firm owned 15,478 shares of the mining company’s stock after acquiring an additional 831 shares during the quarter. Hohimer Wealth Management LLC’s holdings in Rio Tinto Group were worth $1,152,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. AdvisorNet Financial Inc increased its stake in Rio Tinto Group by 785.7% in the fourth quarter. AdvisorNet Financial Inc now owns 372 shares of the mining company’s stock valued at $28,000 after purchasing an additional 330 shares in the last quarter. SouthState Corp bought a new stake in Rio Tinto Group in the third quarter valued at $32,000. Parkside Financial Bank & Trust increased its stake in Rio Tinto Group by 39.3% in the fourth quarter. Parkside Financial Bank & Trust now owns 553 shares of the mining company’s stock valued at $41,000 after purchasing an additional 156 shares in the last quarter. Financial Management Professionals Inc. grew its holdings in shares of Rio Tinto Group by 250.6% during the fourth quarter. Financial Management Professionals Inc. now owns 617 shares of the mining company’s stock valued at $46,000 after buying an additional 441 shares during the last quarter. Finally, Bruce G. Allen Investments LLC acquired a new position in shares of Rio Tinto Group during the fourth quarter valued at about $47,000. 19.33% of the stock is owned by institutional investors.

Rio Tinto Group Price Performance

NYSE RIO traded down $0.92 during trading hours on Thursday, reaching $71.30. 1,958,666 shares of the company’s stock traded hands, compared to its average volume of 2,930,207. Rio Tinto Group has a 52-week low of $58.27 and a 52-week high of $75.09. The firm has a 50-day simple moving average of $66.89 and a 200 day simple moving average of $68.17. The company has a current ratio of 1.69, a quick ratio of 1.17 and a debt-to-equity ratio of 0.23.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on RIO shares. StockNews.com raised shares of Rio Tinto Group from a “buy” rating to a “strong-buy” rating in a research report on Tuesday. Liberum Capital reissued a “hold” rating on shares of Rio Tinto Group in a report on Tuesday, March 5th. Finally, Citigroup lowered shares of Rio Tinto Group from a “buy” rating to a “neutral” rating in a report on Monday. Three analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $72.00.

Rio Tinto Group 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.