Rio Tinto Group (NYSE:RIO) Shares Sold by Prime Capital Investment Advisors LLC

Prime Capital Investment Advisors LLC reduced its stake in Rio Tinto Group (NYSE:RIO) by 2.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. 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 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the stock. Jaffetilchin Investment Partners LLC acquired a new stake in shares of Rio Tinto Group in the third quarter valued at $493,000. Chartwell Investment Partners LLC purchased a new position in Rio Tinto Group in the third quarter valued at $1,459,000. Patten & Patten Inc. TN purchased a new position in Rio Tinto Group in the third quarter valued at $209,000. Crossmark Global Holdings Inc. increased its holdings in Rio Tinto Group by 53.8% in the third quarter. Crossmark Global Holdings Inc. now owns 89,466 shares of the mining company’s stock valued at $6,367,000 after buying an additional 31,290 shares during the last quarter. Finally, Assetmark Inc. increased its holdings in Rio Tinto Group by 2.3% in the third quarter. Assetmark Inc. now owns 63,410 shares of the mining company’s stock valued at $4,513,000 after buying an additional 1,401 shares during the last quarter. 19.33% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

RIO has been the topic of several recent analyst reports. Hsbc Global Res raised Rio Tinto Group to a “strong-buy” rating in a report on Tuesday, July 23rd. HSBC raised Rio Tinto Group from a “hold” rating to a “buy” rating in a report on Tuesday, July 23rd. Berenberg Bank raised Rio Tinto Group from a “hold” rating to a “buy” rating in a report on Wednesday, October 2nd. Royal Bank of Canada raised Rio Tinto Group to a “hold” rating in a report on Wednesday, July 31st. Finally, StockNews.com lowered Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a report on Tuesday. Four research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy”.

Rio Tinto Group Stock Performance

Shares of RIO stock opened at $60.62 on Thursday. The stock’s 50-day moving average is $65.41 and its two-hundred day moving average is $66.19. Rio Tinto Group has a 1 year low of $59.35 and a 1 year high of $75.09. The company has a quick ratio of 1.16, a current ratio of 1.70 and a debt-to-equity ratio of 0.23.

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.