Private Advisor Group LLC Has $2.03 Million Stock Position in Rio Tinto Group (NYSE:RIO)

Private Advisor Group LLC lessened its position in Rio Tinto Group (NYSE:RIO) by 7.2% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 31,914 shares of the mining company’s stock after selling 2,478 shares during the period. Private Advisor Group LLC’s holdings in Rio Tinto Group were worth $2,034,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently modified their holdings of RIO. Integrated Wealth Concepts LLC increased its position in shares of Rio Tinto Group by 7.9% during the third quarter. Integrated Wealth Concepts LLC now owns 37,755 shares of the mining company’s stock worth $2,403,000 after acquiring an additional 2,766 shares in the last quarter. Morgan Stanley grew its holdings in Rio Tinto Group by 2.7% during the third quarter. Morgan Stanley now owns 4,464,344 shares of the mining company’s stock worth $284,111,000 after buying an additional 118,706 shares in the last quarter. Wellington Management Group LLP lifted its stake in Rio Tinto Group by 41.0% during the 3rd quarter. Wellington Management Group LLP now owns 23,193,773 shares of the mining company’s stock valued at $1,476,052,000 after acquiring an additional 6,748,799 shares in the last quarter. B. Riley Wealth Advisors Inc. boosted its holdings in Rio Tinto Group by 30.2% during the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 28,257 shares of the mining company’s stock worth $1,798,000 after acquiring an additional 6,554 shares during the last quarter. Finally, Advisory Resource Group raised its holdings in shares of Rio Tinto Group by 2.9% in the third quarter. Advisory Resource Group now owns 9,559 shares of the mining company’s stock valued at $608,000 after purchasing an additional 270 shares during the last quarter. Institutional investors own 19.33% of the company’s stock.

Wall Street Analysts Forecast Growth

RIO has been the topic of a number of research analyst reports. Citigroup downgraded Rio Tinto Group from a “buy” rating to a “neutral” rating in a research note on Monday, May 20th. StockNews.com raised Rio Tinto Group from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, May 21st. Finally, Berenberg Bank downgraded shares of Rio Tinto Group from a “buy” rating to a “hold” rating in a report on Thursday, June 27th. Four 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. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy”.

Rio Tinto Group Trading Down 0.7 %

Shares of NYSE:RIO opened at $67.17 on Tuesday. The company has a 50-day moving average price of $68.73 and a two-hundred day moving average price of $67.86. Rio Tinto Group has a twelve month low of $58.27 and a twelve month high of $75.09. 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 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.