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

Main Street Financial Solutions LLC reduced its position in Rio Tinto Group (NYSE:RIO) by 76.1% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,382 shares of the mining company’s stock after selling 13,938 shares during the quarter. Main Street Financial Solutions LLC’s holdings in Rio Tinto Group were worth $312,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Winch Advisory Services LLC purchased a new position in Rio Tinto Group during the 3rd quarter worth $26,000. GHP Investment Advisors Inc. purchased a new position in shares of Rio Tinto Group during the second quarter worth about $26,000. FSC Wealth Advisors LLC acquired a new position in Rio Tinto Group in the 3rd quarter valued at about $28,000. Sound Income Strategies LLC raised its stake in Rio Tinto Group by 70.9% during the 3rd quarter. Sound Income Strategies LLC now owns 417 shares of the mining company’s stock valued at $30,000 after acquiring an additional 173 shares during the last quarter. Finally, Centerpoint Advisors LLC lifted its position in Rio Tinto Group by 110.0% during the 2nd quarter. Centerpoint Advisors LLC now owns 525 shares of the mining company’s stock worth $35,000 after acquiring an additional 275 shares during the period. 19.33% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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 report on Wednesday, October 2nd. Hsbc Global Res upgraded shares of Rio Tinto Group to a “strong-buy” rating in a research report on Tuesday, July 23rd. HSBC raised Rio Tinto Group from a “hold” rating to a “buy” rating in a research note on Tuesday, July 23rd. StockNews.com downgraded Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a report on Tuesday. Finally, Royal Bank of Canada upgraded shares of Rio Tinto Group to a “hold” rating in a report on Wednesday, July 31st. Four equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy”.

Rio Tinto Group Stock Down 0.3 %

RIO opened at $60.42 on Friday. The company has a current ratio of 1.70, a quick ratio of 1.16 and a debt-to-equity ratio of 0.23. Rio Tinto Group has a one year low of $59.35 and a one year high of $75.09. The business’s fifty day moving average is $65.42 and its two-hundred day moving average is $66.15.

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.