Main Street Financial Solutions LLC Cuts Stake in Rio Tinto Group (NYSE:RIO)

Main Street Financial Solutions LLC lessened its holdings in shares of Rio Tinto Group (NYSE:RIO - Free Report) by 76.1% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,382 shares of the mining company's stock after selling 13,938 shares during the quarter. Main Street Financial Solutions LLC's holdings in Rio Tinto Group were worth $312,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in RIO. SG Americas Securities LLC raised its stake in Rio Tinto Group by 65.2% during the 1st quarter. SG Americas Securities LLC now owns 16,416 shares of the mining company's stock valued at $1,046,000 after purchasing an additional 6,480 shares during the period. Russell Investments Group Ltd. raised its stake in shares of Rio Tinto Group by 0.4% in the first quarter. Russell Investments Group Ltd. now owns 39,964 shares of the mining company's stock worth $2,547,000 after purchasing an additional 147 shares during the last quarter. Kingsview Wealth Management LLC grew its holdings in Rio Tinto Group by 6.8% during the first quarter. Kingsview Wealth Management LLC now owns 4,570 shares of the mining company's stock worth $291,000 after acquiring an additional 289 shares during the period. Banco Santander S.A. grew its holdings in Rio Tinto Group by 4.2% during the first quarter. Banco Santander S.A. now owns 25,866 shares of the mining company's stock worth $1,649,000 after acquiring an additional 1,034 shares during the period. Finally, Resurgent Financial Advisors LLC grew its holdings in Rio Tinto Group by 136.1% in the first quarter. Resurgent Financial Advisors LLC now owns 3,851 shares of the mining company's stock valued at $245,000 after purchasing an additional 2,220 shares during the period. Institutional investors own 19.33% of the company's stock.

Rio Tinto Group Price Performance

NYSE:RIO traded up $0.55 during trading hours on Friday, reaching $60.98. 2,955,919 shares of the company traded hands, compared to its average volume of 2,761,378. Rio Tinto Group has a 1-year low of $59.35 and a 1-year high of $75.09. The firm's 50-day moving average is $65.42 and its 200-day moving average is $66.11. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.70 and a quick ratio of 1.16.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on RIO shares. HSBC raised Rio Tinto Group from a "hold" rating to a "buy" rating in a research note on Tuesday, July 23rd. Royal Bank of Canada raised Rio Tinto Group to a "hold" rating in a research note on Wednesday, July 31st. Hsbc Global Res raised Rio Tinto Group to a "strong-buy" rating in a research note on Tuesday, July 23rd. Berenberg Bank raised Rio Tinto Group from a "hold" rating to a "buy" rating in a research note on Wednesday, October 2nd. Finally, Macquarie restated a "neutral" rating on shares of Rio Tinto Group in a report on Wednesday, October 16th. Four analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, Rio Tinto Group currently has a consensus rating of "Moderate Buy".

Rio Tinto Group Company 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.