Kovack Advisors Inc. Reduces Stock Position in Rio Tinto Group (NYSE:RIO)

Kovack Advisors Inc. trimmed its position in Rio Tinto Group (NYSE:RIO) by 21.9% in the 3rd quarter, HoldingsChannel reports. The firm owned 6,934 shares of the mining company’s stock after selling 1,945 shares during the quarter. Kovack Advisors Inc.’s holdings in Rio Tinto Group were worth $494,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of RIO. SG Americas Securities LLC boosted its position in Rio Tinto Group by 65.2% in the 1st quarter. SG Americas Securities LLC now owns 16,416 shares of the mining company’s stock worth $1,046,000 after purchasing an additional 6,480 shares in the last quarter. Russell Investments Group Ltd. boosted its holdings in Rio Tinto Group by 0.4% during the first quarter. Russell Investments Group Ltd. now owns 39,964 shares of the mining company’s stock worth $2,547,000 after buying an additional 147 shares in the last quarter. Kingsview Wealth Management LLC grew its position in Rio Tinto Group by 6.8% during the first quarter. Kingsview Wealth Management LLC now owns 4,570 shares of the mining company’s stock valued at $291,000 after buying an additional 289 shares during the period. Banco Santander S.A. increased its holdings in Rio Tinto Group by 4.2% in the first quarter. Banco Santander S.A. now owns 25,866 shares of the mining company’s stock valued at $1,649,000 after buying an additional 1,034 shares in the last quarter. Finally, Resurgent Financial Advisors LLC increased its holdings in Rio Tinto Group by 136.1% in the first quarter. Resurgent Financial Advisors LLC now owns 3,851 shares of the mining company’s stock valued at $245,000 after buying an additional 2,220 shares in the last quarter. 19.33% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Rio Tinto Group Trading Down 0.3 %

Shares of Rio Tinto Group stock opened at $60.42 on Friday. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.70 and a quick ratio of 1.16. The business has a 50 day simple moving average of $65.42 and a two-hundred day simple moving average of $66.15. Rio Tinto Group has a 12 month low of $59.35 and a 12 month high of $75.09.

Rio Tinto Group 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.