Rio Tinto Group (NYSE:RIO) Shares Sold by Moran Wealth Management LLC

Moran Wealth Management LLC decreased its holdings in shares of Rio Tinto Group (NYSE:RIO - Free Report) by 44.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 117,834 shares of the mining company's stock after selling 95,838 shares during the quarter. Moran Wealth Management LLC's holdings in Rio Tinto Group were worth $8,386,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in RIO. Russell Investments Group Ltd. increased its position in shares of Rio Tinto Group by 0.4% during 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 in the last quarter. Bessemer Group Inc. increased its position in Rio Tinto Group by 2.4% in the 1st quarter. Bessemer Group Inc. now owns 7,304 shares of the mining company's stock valued at $465,000 after acquiring an additional 169 shares during the period. Lake Street Advisors Group LLC increased its position in Rio Tinto Group by 30.6% in the 1st quarter. Lake Street Advisors Group LLC now owns 4,716 shares of the mining company's stock valued at $316,000 after acquiring an additional 1,106 shares during the period. LGT Group Foundation acquired a new position in Rio Tinto Group in the 1st quarter valued at about $110,000. Finally, CreativeOne Wealth LLC acquired a new position in Rio Tinto Group in the 1st quarter valued at about $241,000. Institutional investors and hedge funds own 19.33% of the company's stock.

Analyst Ratings Changes

A number of brokerages have weighed in on RIO. Berenberg Bank raised Rio Tinto Group from a "hold" rating to a "buy" rating in a report on Wednesday, October 2nd. Macquarie reaffirmed a "neutral" rating on shares of Rio Tinto Group in a report on Wednesday, October 16th. StockNews.com lowered Rio Tinto Group from a "strong-buy" rating to a "buy" rating in a research note on Tuesday, November 12th. Finally, Royal Bank of Canada raised Rio Tinto Group to a "hold" rating in a research note on Wednesday, July 31st. Four analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy".

Rio Tinto Group Stock Down 0.5 %

NYSE:RIO traded down $0.29 on Thursday, reaching $62.10. The stock had a trading volume of 800,760 shares, compared to its average volume of 2,744,799. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.16 and a current ratio of 1.70. Rio Tinto Group has a 12-month low of $59.35 and a 12-month high of $75.09. The company has a 50-day moving average of $65.56 and a 200 day moving average of $65.91.

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.