Sunbelt Securities Inc. Boosts Stake in Rio Tinto Group (NYSE:RIO)

Sunbelt Securities Inc. grew its stake in shares of Rio Tinto Group (NYSE:RIO) by 2.0% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 11,766 shares of the mining company’s stock after buying an additional 235 shares during the period. Sunbelt Securities Inc.’s holdings in Rio Tinto Group were worth $750,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Northwest Investment Counselors LLC purchased a new stake in Rio Tinto Group during the 1st quarter worth about $26,000. AdvisorNet Financial Inc raised its position in shares of Rio Tinto Group by 785.7% in the fourth quarter. AdvisorNet Financial Inc now owns 372 shares of the mining company’s stock valued at $28,000 after buying an additional 330 shares during the last quarter. Parkside Financial Bank & Trust lifted its stake in shares of Rio Tinto Group by 39.3% during the fourth quarter. Parkside Financial Bank & Trust now owns 553 shares of the mining company’s stock valued at $41,000 after buying an additional 156 shares during the period. Financial Management Professionals Inc. boosted its position in Rio Tinto Group by 250.6% during the fourth quarter. Financial Management Professionals Inc. now owns 617 shares of the mining company’s stock worth $46,000 after acquiring an additional 441 shares during the last quarter. Finally, Bruce G. Allen Investments LLC purchased a new stake in Rio Tinto Group in the 4th quarter worth approximately $47,000. 19.33% of the stock is owned by institutional investors and hedge funds.

Rio Tinto Group Stock Performance

RIO stock opened at $65.83 on Friday. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.69 and a quick ratio of 1.17. The stock has a 50-day moving average price of $68.85 and a two-hundred day moving average price of $68.17. Rio Tinto Group has a 12-month low of $58.27 and a 12-month high of $75.09.

Analyst Ratings Changes

RIO has been the topic of a number of recent analyst reports. StockNews.com raised Rio Tinto Group from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, May 21st. Berenberg Bank downgraded Rio Tinto Group from a “buy” rating to a “hold” rating in a research report on Thursday. Liberum Capital restated a “hold” rating on shares of Rio Tinto Group in a report on Tuesday, March 5th. Finally, Citigroup lowered shares of Rio Tinto Group from a “buy” rating to a “neutral” rating in a report on Monday, May 20th. Four research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $72.00.

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.