SG Americas Securities LLC Has $1.71 Million Position in Rio Tinto PLC (NYSE:RIO)

SG Americas Securities LLC lifted its stake in shares of Rio Tinto PLC (NYSE:RIO - Free Report) by 409.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 28,476 shares of the mining company's stock after acquiring an additional 22,882 shares during the period. SG Americas Securities LLC's holdings in Rio Tinto were worth $1,711,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. XTX Topco Ltd acquired a new stake in shares of Rio Tinto in the 4th quarter valued at about $1,241,000. Rossby Financial LCC acquired a new stake in Rio Tinto in the 4th quarter valued at approximately $360,000. Schroder Investment Management Group lifted its stake in Rio Tinto by 3.2% in the 4th quarter. Schroder Investment Management Group now owns 32,258 shares of the mining company's stock valued at $1,890,000 after acquiring an additional 1,009 shares in the last quarter. Norges Bank acquired a new position in Rio Tinto during the 4th quarter worth approximately $432,000. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Rio Tinto by 28.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 81,888 shares of the mining company's stock worth $4,816,000 after acquiring an additional 18,179 shares in the last quarter. 19.33% of the stock is currently owned by institutional investors and hedge funds.

Rio Tinto Stock Performance

Shares of NYSE RIO traded down $0.09 during mid-day trading on Thursday, reaching $56.92. 2,143,788 shares of the company were exchanged, compared to its average volume of 2,949,328. The stock has a market capitalization of $71.38 billion, a P/E ratio of 8.83 and a beta of 0.68. The company has a quick ratio of 1.13, a current ratio of 1.63 and a debt-to-equity ratio of 0.23. The company's 50-day simple moving average is $59.64 and its 200-day simple moving average is $60.48. Rio Tinto PLC has a twelve month low of $51.67 and a twelve month high of $72.08.

Wall Street Analysts Forecast Growth

RIO has been the subject of several recent research reports. Barclays restated an "overweight" rating on shares of Rio Tinto in a report on Wednesday, April 16th. Clarkson Capital raised Rio Tinto to a "strong-buy" rating in a research report on Friday, February 28th. Morgan Stanley downgraded Rio Tinto from an "overweight" rating to an "equal weight" rating in a research note on Wednesday, April 9th. JPMorgan Chase & Co. assumed coverage on Rio Tinto in a research note on Tuesday, March 18th. They set an "overweight" rating on the stock. Finally, Wall Street Zen cut shares of Rio Tinto from a "strong-buy" rating to a "buy" rating in a research note on Monday, April 28th. Four equities research analysts have rated the stock with a hold rating, five have given a buy rating and three have issued a strong buy rating to the company. According to MarketBeat, Rio Tinto has an average rating of "Moderate Buy" and a consensus price target of $73.00.

About Rio Tinto

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.