Rio Tinto Group (NYSE:RIO) Shares Sold by Main Street Financial Solutions LLC

Main Street Financial Solutions LLC lowered its stake in Rio Tinto Group (NYSE:RIO) by 76.1% during the third quarter, Holdings Channel.com reports. The institutional investor owned 4,382 shares of the mining company’s stock after selling 13,938 shares during the period. Main Street Financial Solutions LLC’s holdings in Rio Tinto Group were worth $312,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of RIO. Schrum Private Wealth Management LLC purchased a new stake in shares of Rio Tinto Group in the third quarter valued at $334,000. Oppenheimer & Co. Inc. raised its stake in Rio Tinto Group by 6.8% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 38,586 shares of the mining company’s stock valued at $2,746,000 after purchasing an additional 2,459 shares during the last quarter. Oppenheimer Asset Management Inc. lifted its holdings in Rio Tinto Group by 5.7% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 147,341 shares of the mining company’s stock valued at $10,486,000 after purchasing an additional 7,897 shares in the last quarter. Community Bank & Trust Waco Texas boosted its stake in shares of Rio Tinto Group by 134.0% during the 3rd quarter. Community Bank & Trust Waco Texas now owns 20,386 shares of the mining company’s stock worth $1,451,000 after purchasing an additional 11,675 shares during the last quarter. Finally, Aigen Investment Management LP acquired a new stake in shares of Rio Tinto Group during the 3rd quarter worth about $431,000. Institutional investors and hedge funds own 19.33% of the company’s stock.

Rio Tinto Group Price Performance

NYSE RIO opened at $60.42 on Friday. The business’s 50-day simple moving average is $65.42 and its 200-day simple moving average is $66.15. 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.

Analysts Set New Price Targets

A number of brokerages recently issued reports on RIO. StockNews.com lowered shares of Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a research report on Tuesday. Royal Bank of Canada upgraded Rio Tinto Group to a “hold” rating in a report on Wednesday, July 31st. HSBC upgraded Rio Tinto Group from a “hold” rating to a “buy” rating in a research note on Tuesday, July 23rd. Macquarie restated a “neutral” rating on shares of Rio Tinto Group in a report on Wednesday, October 16th. Finally, Berenberg Bank raised shares of Rio Tinto Group from a “hold” rating to a “buy” rating in a research note on Wednesday, October 2nd. Four analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy”.

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.