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

Jeppson Wealth Management LLC cut its stake in shares of Rio Tinto Group (NYSE:RIO) by 2.4% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 13,620 shares of the mining company’s stock after selling 338 shares during the period. Jeppson Wealth Management LLC’s holdings in Rio Tinto Group were worth $969,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the business. Envestnet Portfolio Solutions Inc. lifted its position in Rio Tinto Group by 4.3% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 15,648 shares of the mining company’s stock worth $997,000 after acquiring an additional 642 shares during the period. SG Americas Securities LLC boosted its holdings in Rio Tinto Group by 65.2% in the first quarter. SG Americas Securities LLC now owns 16,416 shares of the mining company’s stock valued at $1,046,000 after purchasing an additional 6,480 shares in the last quarter. QRG Capital Management Inc. grew its holdings in shares of Rio Tinto Group by 57.6% during the first quarter. QRG Capital Management Inc. now owns 69,168 shares of the mining company’s stock worth $4,409,000 after buying an additional 25,274 shares during the last quarter. Russell Investments Group Ltd. grew its stake in shares of Rio Tinto Group by 0.4% during the 1st 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 period. Finally, Texas Yale Capital Corp. acquired a new stake in shares of Rio Tinto Group in the first quarter valued at approximately $220,000. Institutional investors own 19.33% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Royal Bank of Canada raised shares of Rio Tinto Group to a “hold” rating in a research report on Wednesday, July 31st. Macquarie restated a “neutral” rating on shares of Rio Tinto Group in a research report on Wednesday, October 16th. HSBC upgraded shares of Rio Tinto Group from a “hold” rating to a “buy” rating in a report on Tuesday, July 23rd. Hsbc Global Res upgraded Rio Tinto Group to a “strong-buy” rating in a report on Tuesday, July 23rd. Finally, StockNews.com raised Rio Tinto Group from a “buy” rating to a “strong-buy” rating in a research report on Friday, September 6th. Four equities research analysts have rated the stock with a hold rating, four have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy”.

Rio Tinto Group Price Performance

Shares of Rio Tinto Group stock opened at $62.59 on Tuesday. The firm’s 50 day moving average is $65.40 and its 200 day moving average is $66.27. The company has a quick ratio of 1.16, a current ratio of 1.70 and a debt-to-equity ratio of 0.23. Rio Tinto Group has a 1 year low of $59.35 and a 1 year high of $75.09.

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.