MML Investors Services LLC Sells 2,648 Shares of Rio Tinto Group (NYSE:RIO)

MML Investors Services LLC lowered its stake in shares of Rio Tinto Group (NYSE:RIO) by 6.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 40,255 shares of the mining company’s stock after selling 2,648 shares during the quarter. MML Investors Services LLC’s holdings in Rio Tinto Group were worth $2,865,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Armstrong Advisory Group Inc. raised its stake in Rio Tinto Group by 9.6% in the third quarter. Armstrong Advisory Group Inc. now owns 1,808 shares of the mining company’s stock valued at $129,000 after buying an additional 159 shares during the last quarter. Eagle Bluffs Wealth Management LLC raised its stake in Rio Tinto Group by 1.1% in the second quarter. Eagle Bluffs Wealth Management LLC now owns 14,997 shares of the mining company’s stock valued at $989,000 after buying an additional 163 shares during the last quarter. Sound Income Strategies LLC raised 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 valued at $30,000 after buying an additional 173 shares during the last quarter. Concurrent Investment Advisors LLC raised its stake in Rio Tinto Group by 4.3% in the third quarter. Concurrent Investment Advisors LLC now owns 4,261 shares of the mining company’s stock valued at $303,000 after buying an additional 175 shares during the last quarter. Finally, Fiduciary Financial Group LLC raised its stake in Rio Tinto Group by 3.7% in the third quarter. Fiduciary Financial Group LLC now owns 4,945 shares of the mining company’s stock valued at $330,000 after buying an additional 178 shares during the last quarter. 19.33% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have commented on RIO. Berenberg Bank upgraded Rio Tinto Group from a “hold” rating to a “buy” rating in a research note on Wednesday, October 2nd. StockNews.com cut Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, November 12th. Finally, Macquarie restated a “neutral” rating on shares of Rio Tinto Group in a research note on Wednesday, October 16th. Four analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Rio Tinto Group has an average rating of “Moderate Buy”.

Rio Tinto Group Price Performance

Shares of NYSE:RIO opened at $62.21 on Friday. Rio Tinto Group has a 52-week low of $59.35 and a 52-week high of $75.09. 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 business has a 50-day moving average price of $64.30 and a 200-day moving average price of $64.97.

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.