Janney Montgomery Scott LLC trimmed its holdings in Rio Tinto Group (NYSE:RIO - Free Report) by 32.6% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 70,987 shares of the mining company's stock after selling 34,332 shares during the quarter. Janney Montgomery Scott LLC's holdings in Rio Tinto Group were worth $4,525,000 at the end of the most recent quarter.
A number of other hedge funds have also recently made changes to their positions in RIO. Northwest Investment Counselors LLC bought a new stake in shares of Rio Tinto Group in the 1st quarter worth approximately $26,000. AdvisorNet Financial Inc lifted its holdings in shares of Rio Tinto Group by 785.7% in the 4th quarter. AdvisorNet Financial Inc now owns 372 shares of the mining company's stock worth $28,000 after acquiring an additional 330 shares during the last quarter. YHB Investment Advisors Inc. bought a new stake in shares of Rio Tinto Group in the 1st quarter worth approximately $29,000. Accordant Advisory Group Inc bought a new stake in shares of Rio Tinto Group in the 1st quarter worth approximately $31,000. Finally, LifeSteps Financial Inc. bought a new stake in Rio Tinto Group during the 1st quarter valued at $33,000. 19.33% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
RIO has been the subject of a number of recent analyst reports. StockNews.com upgraded shares of Rio Tinto Group from a "buy" rating to a "strong-buy" rating in a report on Tuesday, May 21st. Citigroup lowered shares of Rio Tinto Group from a "buy" rating to a "neutral" rating in a report on Monday, May 20th. Finally, Berenberg Bank lowered shares of Rio Tinto Group from a "buy" rating to a "hold" rating in a report on Thursday, June 27th. Four research 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 company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy".
Get Our Latest Stock Report on Rio Tinto Group
Rio Tinto Group Trading Up 0.9 %
NYSE RIO traded up $0.59 during trading on Thursday, hitting $68.08. The company had a trading volume of 1,672,689 shares, compared to its average volume of 2,683,763. The company has a current ratio of 1.69, a quick ratio of 1.17 and a debt-to-equity ratio of 0.23. Rio Tinto Group has a one year low of $58.27 and a one year high of $75.09. The company has a market cap of $85.27 billion, a price-to-earnings ratio of 9.20, a price-to-earnings-growth ratio of 7.11 and a beta of 0.67. The company's fifty day moving average is $68.71 and its 200-day moving average is $67.81.
Rio Tinto Group Profile
(
Free Report)
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.
Read More
Before you consider Rio Tinto Group, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Rio Tinto Group wasn't on the list.
While Rio Tinto Group currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Wondering what the next stocks will be that hit it big, with solid fundamentals? Click the link below to learn more about how your portfolio could bloom.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
