QRG Capital Management Inc. Cuts Stake in Rio Tinto Group (NYSE:RIO)

QRG Capital Management Inc. reduced its position in Rio Tinto Group (NYSE:RIO) by 9.7% during the 3rd quarter, Holdings Channel.com reports. The firm owned 86,223 shares of the mining company’s stock after selling 9,274 shares during the period. QRG Capital Management Inc.’s holdings in Rio Tinto Group were worth $6,136,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Geneos Wealth Management Inc. grew its holdings in shares of Rio Tinto Group by 55.4% during the first quarter. Geneos Wealth Management Inc. now owns 415 shares of the mining company’s stock valued at $26,000 after buying an additional 148 shares during the last quarter. GHP Investment Advisors Inc. purchased a new stake in shares of Rio Tinto Group during the second quarter valued at $26,000. Winch Advisory Services LLC acquired a new position in Rio Tinto Group during the third quarter valued at $26,000. FSC Wealth Advisors LLC acquired a new position in Rio Tinto Group during the third quarter valued at $28,000. Finally, Sound Income Strategies LLC lifted its position in Rio Tinto Group by 70.9% during the third quarter. Sound Income Strategies LLC now owns 417 shares of the mining company’s stock valued at $30,000 after purchasing an additional 173 shares during the period. 19.33% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on RIO shares. Berenberg Bank upgraded shares of Rio Tinto Group from a “hold” rating to a “buy” rating in a research report on Wednesday, October 2nd. Macquarie reiterated a “neutral” rating on shares of Rio Tinto Group in a research report on Wednesday, October 16th. Royal Bank of Canada upgraded shares of Rio Tinto Group to a “hold” rating in a research report on Wednesday, July 31st. StockNews.com raised shares of Rio Tinto Group from a “buy” rating to a “strong-buy” rating in a research note on Friday, September 6th. Finally, HSBC raised shares of Rio Tinto Group from a “hold” rating to a “buy” rating in a research note on Tuesday, July 23rd. Four 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 stock. According to data from MarketBeat, Rio Tinto Group has an average rating of “Moderate Buy”.

Rio Tinto Group Trading Up 0.8 %

Shares of NYSE RIO opened at $65.50 on Wednesday. Rio Tinto Group has a 12-month low of $59.35 and a 12-month high of $75.09. The company has a quick ratio of 1.16, a current ratio of 1.70 and a debt-to-equity ratio of 0.23. The company has a 50-day moving average of $65.25 and a 200 day moving average of $66.30.

Rio Tinto Group Company 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.