Ameliora Wealth Management Ltd. Sells 5,650 Shares of Rio Tinto Group (NYSE:RIO)

Ameliora Wealth Management Ltd. lessened its holdings in Rio Tinto Group (NYSE:RIO - Free Report) by 47.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,360 shares of the mining company's stock after selling 5,650 shares during the period. Ameliora Wealth Management Ltd.'s holdings in Rio Tinto Group were worth $382,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Rakuten Securities Inc. raised its holdings in shares of Rio Tinto Group by 74.8% during the fourth quarter. Rakuten Securities Inc. now owns 493 shares of the mining company's stock worth $29,000 after acquiring an additional 211 shares in the last quarter. Mechanics Financial Corp purchased a new stake in shares of Rio Tinto Group during the fourth quarter worth $29,000. Ameriflex Group Inc. bought a new position in Rio Tinto Group during the fourth quarter valued at about $47,000. Golden State Wealth Management LLC bought a new position in Rio Tinto Group during the fourth quarter valued at about $47,000. Finally, Newbridge Financial Services Group Inc. bought a new position in Rio Tinto Group during the fourth quarter valued at about $59,000. Institutional investors and hedge funds own 19.33% of the company's stock.

Rio Tinto Group Stock Performance

RIO stock traded down $0.63 during trading on Wednesday, reaching $58.84. 2,684,766 shares of the stock were exchanged, compared to its average volume of 2,929,881. Rio Tinto Group has a twelve month low of $51.67 and a twelve month high of $72.08. The company has a market capitalization of $73.79 billion, a P/E ratio of 9.12, a price-to-earnings-growth ratio of 0.42 and a beta of 0.68. The stock has a 50 day simple moving average of $59.18 and a 200-day simple moving average of $60.66. The company has a current ratio of 1.63, a quick ratio of 1.16 and a debt-to-equity ratio of 0.23.

Analyst Ratings Changes

Several research firms have weighed in on RIO. Morgan Stanley lowered Rio Tinto Group from an "overweight" rating to an "equal weight" rating in a report on Wednesday, April 9th. Clarkson Capital upgraded Rio Tinto Group to a "strong-buy" rating in a report on Friday, February 28th. Jefferies Financial Group restated a "hold" rating on shares of Rio Tinto Group in a report on Tuesday, June 3rd. JPMorgan Chase & Co. initiated coverage on Rio Tinto Group in a research report on Tuesday, March 18th. They issued an "overweight" rating on the stock. Finally, Barclays reaffirmed an "overweight" rating on shares of Rio Tinto Group in a research report on Wednesday, April 16th. Four investment analysts have rated the stock with a hold rating, five have given a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $73.00.

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.