Sunbelt Securities Inc. Sells 10,334 Shares of Rio Tinto Group (NYSE:RIO)

Sunbelt Securities Inc. trimmed its stake in shares of Rio Tinto Group (NYSE:RIO - Free Report) by 82.8% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,150 shares of the mining company's stock after selling 10,334 shares during the period. Sunbelt Securities Inc.'s holdings in Rio Tinto Group were worth $126,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Barclays PLC grew its stake in shares of Rio Tinto Group by 225.6% in the 3rd quarter. Barclays PLC now owns 335,637 shares of the mining company's stock worth $23,888,000 after buying an additional 232,539 shares in the last quarter. Nisa Investment Advisors LLC grew its stake in shares of Rio Tinto Group by 34.1% in the 4th quarter. Nisa Investment Advisors LLC now owns 1,100 shares of the mining company's stock worth $65,000 after buying an additional 280 shares in the last quarter. SG Americas Securities LLC grew its stake in shares of Rio Tinto Group by 71.4% in the 4th quarter. SG Americas Securities LLC now owns 5,594 shares of the mining company's stock worth $329,000 after buying an additional 2,331 shares in the last quarter. PFG Investments LLC grew its stake in shares of Rio Tinto Group by 18.5% in the 4th quarter. PFG Investments LLC now owns 4,194 shares of the mining company's stock worth $247,000 after buying an additional 655 shares in the last quarter. Finally, Kingswood Wealth Advisors LLC bought a new stake in shares of Rio Tinto Group in the 4th quarter valued at approximately $358,000. 19.33% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on RIO shares. Wall Street Zen downgraded Rio Tinto Group from a "strong-buy" rating to a "buy" rating in a research report on Monday, April 28th. Barclays reiterated an "overweight" rating on shares of Rio Tinto Group in a research report on Wednesday, April 16th. Morgan Stanley cut shares of Rio Tinto Group from an "overweight" rating to an "equal weight" rating in a research note on Wednesday, April 9th. JPMorgan Chase & Co. started coverage on shares of Rio Tinto Group in a report on Tuesday, March 18th. They set an "overweight" rating on the stock. Finally, DZ Bank raised shares of Rio Tinto Group from a "hold" rating to a "strong-buy" rating in a research note on Thursday, March 27th. Three equities research analysts have rated the stock with a hold rating, six have issued a buy rating and three have issued a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Buy" and a consensus target price of $73.00.

Rio Tinto Group Trading Down 1.3%

Shares of NYSE RIO traded down $0.76 during midday trading on Friday, hitting $59.44. The company's stock had a trading volume of 6,655,252 shares, compared to its average volume of 2,886,052. Rio Tinto Group has a 12-month low of $51.67 and a 12-month high of $72.08. The business's 50 day moving average is $59.47 and its two-hundred day moving average is $60.80. The firm has a market cap of $74.54 billion, a P/E ratio of 9.22, a price-to-earnings-growth ratio of 0.42 and a beta of 0.73. The company has a current ratio of 1.63, a quick ratio of 1.16 and a debt-to-equity ratio of 0.23.

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.