MML Investors Services LLC Trims Holdings in Rio Tinto Group (NYSE:RIO)

MML Investors Services LLC decreased its holdings in Rio Tinto Group (NYSE:RIO) by 6.2% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 40,255 shares of the mining company’s stock after selling 2,648 shares during the period. MML Investors Services LLC’s holdings in Rio Tinto Group were worth $2,865,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Winch Advisory Services LLC purchased a new stake in Rio Tinto Group in the third quarter worth $26,000. GHP Investment Advisors Inc. purchased a new stake in Rio Tinto Group in the second quarter worth $26,000. FSC Wealth Advisors LLC purchased a new stake in Rio Tinto Group in the third quarter worth $28,000. Sound Income Strategies LLC increased its stake in Rio Tinto Group by 70.9% in the third quarter. Sound Income Strategies LLC now owns 417 shares of the mining company’s stock worth $30,000 after purchasing an additional 173 shares during the period. Finally, Centerpoint Advisors LLC increased its stake in Rio Tinto Group by 110.0% in the second quarter. Centerpoint Advisors LLC now owns 525 shares of the mining company’s stock worth $35,000 after purchasing an additional 275 shares during the period. Hedge funds and other institutional investors own 19.33% of the company’s stock.

Analyst Upgrades and Downgrades

RIO has been the topic of a number of recent research reports. Berenberg Bank raised Rio Tinto Group from a “hold” rating to a “buy” rating in a research report on Wednesday, October 2nd. Macquarie reissued a “neutral” rating on shares of Rio Tinto Group in a research report on Wednesday, October 16th. Finally, StockNews.com downgraded Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, November 12th. Four research analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy”.

Rio Tinto Group Trading Down 2.0 %

Shares of RIO stock opened at $62.21 on Friday. Rio Tinto Group has a 1-year low of $59.35 and a 1-year high of $75.09. The stock’s 50-day moving average is $64.30 and its 200 day moving average is $64.97. The company has a quick ratio of 1.16, a current ratio of 1.70 and a debt-to-equity ratio of 0.23.

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.