SteelPeak Wealth LLC Cuts Stock Position in Rio Tinto Group (NYSE:RIO)

SteelPeak Wealth LLC decreased its holdings in shares of Rio Tinto Group (NYSE:RIO) by 0.7% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 21,960 shares of the mining company’s stock after selling 165 shares during the quarter. SteelPeak Wealth LLC’s holdings in Rio Tinto Group were worth $1,456,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Northwest Investment Counselors LLC acquired a new position in shares of Rio Tinto Group during the first quarter worth about $26,000. AdvisorNet Financial Inc lifted its position in Rio Tinto Group by 785.7% during 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 in the last quarter. Parkside Financial Bank & Trust boosted its holdings in Rio Tinto Group by 39.3% in the 4th quarter. Parkside Financial Bank & Trust now owns 553 shares of the mining company’s stock worth $41,000 after acquiring an additional 156 shares during the period. Financial Management Professionals Inc. grew its position in Rio Tinto Group by 250.6% in the fourth quarter. Financial Management Professionals Inc. now owns 617 shares of the mining company’s stock valued at $46,000 after acquiring an additional 441 shares in the last quarter. Finally, Bruce G. Allen Investments LLC acquired a new position in shares of Rio Tinto Group during the fourth quarter worth $47,000. 19.33% of the stock is owned by hedge funds and other institutional investors.

Rio Tinto Group Stock Performance

Shares of RIO stock opened at $65.93 on Monday. Rio Tinto Group has a one year low of $58.27 and a one year high of $75.09. The company’s 50-day simple moving average is $68.81 and its 200-day simple moving average is $68.11. The company has a quick ratio of 1.17, a current ratio of 1.69 and a debt-to-equity ratio of 0.23.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. Citigroup downgraded shares of Rio Tinto Group from a “buy” rating to a “neutral” rating in a research note on Monday, May 20th. Berenberg Bank cut Rio Tinto Group from a “buy” rating to a “hold” rating in a research note on Thursday. StockNews.com upgraded Rio Tinto Group from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, May 21st. Finally, Liberum Capital reaffirmed a “hold” rating on shares of Rio Tinto Group in a research report on Tuesday, March 5th. Four investment analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy”.

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.