Prime Capital Investment Advisors LLC Reduces Stock Position in Rio Tinto Group (NYSE:RIO)

Prime Capital Investment Advisors LLC cut its stake in Rio Tinto Group (NYSE:RIO) by 2.2% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 26,657 shares of the mining company’s stock after selling 591 shares during the period. Prime Capital Investment Advisors LLC’s holdings in Rio Tinto Group were worth $1,897,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also made changes to their positions in the stock. Bank of Montreal Can grew its position in shares of Rio Tinto Group by 237.0% in the second quarter. Bank of Montreal Can now owns 2,472,471 shares of the mining company’s stock valued at $164,493,000 after purchasing an additional 1,738,752 shares in the last quarter. Earnest Partners LLC grew its position in Rio Tinto Group by 1.4% in the first quarter. Earnest Partners LLC now owns 1,395,961 shares of the mining company’s stock worth $88,979,000 after acquiring an additional 19,334 shares during the period. National Bank of Canada FI grew its position in Rio Tinto Group by 296.2% in the first quarter. National Bank of Canada FI now owns 1,022,765 shares of the mining company’s stock worth $71,382,000 after acquiring an additional 764,635 shares during the period. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH grew its position in Rio Tinto Group by 9.8% in the third quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 932,151 shares of the mining company’s stock worth $66,341,000 after acquiring an additional 83,569 shares during the period. Finally, Dimensional Fund Advisors LP grew its position in Rio Tinto Group by 78.3% in the second quarter. Dimensional Fund Advisors LP now owns 858,050 shares of the mining company’s stock worth $56,565,000 after acquiring an additional 376,778 shares during the period. 19.33% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

RIO has been the subject of several analyst reports. Hsbc Global Res upgraded Rio Tinto Group to a “strong-buy” rating in a research report on Tuesday, July 23rd. Berenberg Bank upgraded Rio Tinto Group from a “hold” rating to a “buy” rating in a research report on Wednesday, October 2nd. StockNews.com lowered Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a research report on Tuesday. HSBC upgraded Rio Tinto Group from a “hold” rating to a “buy” rating in a research note on Tuesday, July 23rd. Finally, Royal Bank of Canada upgraded 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 issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Rio Tinto Group currently has an average rating of “Moderate Buy”.

Rio Tinto Group Stock Down 0.9 %

NYSE:RIO opened at $60.62 on Thursday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.16 and a current ratio of 1.70. The stock’s fifty day moving average is $65.41 and its two-hundred day moving average is $66.19. Rio Tinto Group has a 52 week low of $59.35 and a 52 week high of $75.09.

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.