Jeppson Wealth Management LLC Buys 6,473 Shares of Rio Tinto Group (NYSE:RIO)

Jeppson Wealth Management LLC raised its position in shares of Rio Tinto Group (NYSE:RIO) by 47.5% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 20,093 shares of the mining company’s stock after purchasing an additional 6,473 shares during the period. Jeppson Wealth Management LLC’s holdings in Rio Tinto Group were worth $1,182,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Winch Advisory Services LLC purchased a new position in shares of Rio Tinto Group during the 3rd quarter valued at about $26,000. FSC Wealth Advisors LLC purchased a new position in shares of Rio Tinto Group during the third quarter worth approximately $28,000. Thurston Springer Miller Herd & Titak Inc. lifted 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 acquiring 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 bought a new position in shares of Rio Tinto Group during the 3rd quarter valued at $38,000. Institutional investors own 19.33% of the company’s stock.

Analysts Set New Price Targets

Several analysts have weighed in on the stock. Macquarie reissued a “neutral” rating on shares of Rio Tinto Group in a research note on Wednesday, October 16th. Berenberg Bank upgraded Rio Tinto Group from a “hold” rating to a “buy” rating in a report on Wednesday, October 2nd. Jefferies Financial Group decreased their price target on Rio Tinto Group from $83.00 to $73.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. Finally, StockNews.com lowered Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a research note on Saturday. Four investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $73.00.

Rio Tinto Group Stock Performance

NYSE RIO opened at $61.97 on Tuesday. Rio Tinto Group has a fifty-two week low of $57.85 and a fifty-two week high of $74.24. The stock has a 50 day simple moving average of $61.02 and a two-hundred day simple moving average of $63.32. The company has a current ratio of 1.70, a quick ratio of 1.16 and a debt-to-equity ratio of 0.23.

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.