Accordant Advisory Group Inc Acquires Shares of 22,166 Rio Tinto PLC $RIO

Accordant Advisory Group Inc bought a new position in Rio Tinto PLC (NYSE:RIO) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 22,166 shares of the mining company’s stock, valued at approximately $1,293,000.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Pandora Wealth Inc. bought a new stake in Rio Tinto in the first quarter valued at $30,000. MTM Investment Management LLC bought a new position in shares of Rio Tinto during the second quarter valued at $43,000. Hilltop National Bank acquired a new stake in shares of Rio Tinto in the 2nd quarter valued at $44,000. Resources Management Corp CT ADV acquired a new stake in shares of Rio Tinto in the 1st quarter valued at $48,000. Finally, Cary Street Partners Investment Advisory LLC grew its holdings in shares of Rio Tinto by 65.1% in the 1st quarter. Cary Street Partners Investment Advisory LLC now owns 852 shares of the mining company’s stock worth $51,000 after purchasing an additional 336 shares during the last quarter. Institutional investors own 19.33% of the company’s stock.

Rio Tinto Price Performance

Shares of RIO stock opened at $69.46 on Thursday. Rio Tinto PLC has a 1 year low of $51.67 and a 1 year high of $73.76. The firm’s 50 day moving average is $67.67 and its 200-day moving average is $63.02. The company has a current ratio of 1.53, a quick ratio of 1.03 and a debt-to-equity ratio of 0.37.

Wall Street Analyst Weigh In

A number of research firms have commented on RIO. Deutsche Bank Aktiengesellschaft lowered shares of Rio Tinto from a “buy” rating to a “hold” rating in a research report on Wednesday, July 30th. Zacks Research upgraded shares of Rio Tinto from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 6th. Citigroup reissued a “neutral” rating on shares of Rio Tinto in a report on Monday. Morgan Stanley restated an “overweight” rating on shares of Rio Tinto in a research report on Wednesday, October 8th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Rio Tinto in a report on Wednesday, October 8th. Three research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, Rio Tinto has a consensus rating of “Moderate Buy” and an average target price of $73.00.

Rio Tinto 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.