Jeppson Wealth Management LLC Sells 338 Shares of Rio Tinto Group (NYSE:RIO)

Jeppson Wealth Management LLC decreased its stake in shares of Rio Tinto Group (NYSE:RIO) by 2.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,620 shares of the mining company’s stock after selling 338 shares during the quarter. Jeppson Wealth Management LLC’s holdings in Rio Tinto Group were worth $969,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Envestnet Portfolio Solutions Inc. increased its stake in shares of Rio Tinto Group by 4.3% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 15,648 shares of the mining company’s stock worth $997,000 after purchasing an additional 642 shares in the last quarter. SG Americas Securities LLC lifted its holdings in Rio Tinto Group by 65.2% during the 1st quarter. SG Americas Securities LLC now owns 16,416 shares of the mining company’s stock worth $1,046,000 after buying an additional 6,480 shares during the last quarter. QRG Capital Management Inc. boosted its holdings in shares of Rio Tinto Group by 57.6% in the 1st quarter. QRG Capital Management Inc. now owns 69,168 shares of the mining company’s stock valued at $4,409,000 after buying an additional 25,274 shares in the last quarter. Russell Investments Group Ltd. grew its holdings in shares of Rio Tinto Group by 0.4% during the first quarter. Russell Investments Group Ltd. now owns 39,964 shares of the mining company’s stock worth $2,547,000 after purchasing an additional 147 shares during the last quarter. Finally, Texas Yale Capital Corp. acquired a new stake in shares of Rio Tinto Group in the first quarter valued at approximately $220,000. 19.33% of the stock is currently owned by institutional investors and hedge funds.

Rio Tinto Group Price Performance

RIO stock opened at $62.59 on Tuesday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.16 and a current ratio of 1.70. Rio Tinto Group has a 52 week low of $59.35 and a 52 week high of $75.09. The company’s 50-day simple moving average is $65.40 and its 200 day simple moving average is $66.27.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. StockNews.com raised shares of Rio Tinto Group from a “buy” rating to a “strong-buy” rating in a report on Friday, September 6th. Berenberg Bank raised shares of Rio Tinto Group from a “hold” rating to a “buy” rating in a research note on Wednesday, October 2nd. Hsbc Global Res raised shares of Rio Tinto Group to a “strong-buy” rating in a research report on Tuesday, July 23rd. HSBC upgraded shares of Rio Tinto Group from a “hold” rating to a “buy” rating in a research note on Tuesday, July 23rd. Finally, Macquarie restated a “neutral” rating on shares of Rio Tinto Group in a research report on Wednesday, October 16th. Four investment analysts have rated the stock with a hold rating, four have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Rio Tinto Group presently has a consensus rating of “Moderate Buy”.

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.