Janney Montgomery Scott LLC Has $16.94 Million Stock Holdings in Rio Tinto Group (NYSE:RIO)

Janney Montgomery Scott LLC lifted its position in shares of Rio Tinto Group (NYSE:RIO) by 242.9% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 288,075 shares of the mining company’s stock after buying an additional 204,059 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Rio Tinto Group were worth $16,942,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of RIO. SG Americas Securities LLC raised its stake in 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 purchasing an additional 2,331 shares in the last quarter. Davis Capital Management boosted its position in shares of Rio Tinto Group by 6.8% during the 4th quarter. Davis Capital Management now owns 14,828 shares of the mining company’s stock worth $872,000 after acquiring an additional 939 shares in the last quarter. Nisa Investment Advisors LLC increased 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 valued at $65,000 after purchasing an additional 280 shares during the last quarter. Octavia Wealth Advisors LLC acquired a new position in Rio Tinto Group during the fourth quarter worth about $283,000. Finally, Atomi Financial Group Inc. grew its holdings in shares of Rio Tinto Group by 2.8% during the 4th quarter. Atomi Financial Group Inc. now owns 12,383 shares of the mining company’s stock valued at $728,000 after purchasing an additional 342 shares during the last quarter. Institutional investors own 19.33% of the company’s stock.

Analyst Upgrades and Downgrades

RIO has been the topic of a number of research analyst reports. Jefferies Financial Group cut their target price on shares of Rio Tinto Group from $83.00 to $73.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. StockNews.com cut Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a report on Saturday. Macquarie reissued a “neutral” rating on shares of Rio Tinto Group in a research note on Wednesday, October 16th. Finally, Berenberg Bank raised Rio Tinto Group from a “hold” rating to a “buy” rating in a research note on Wednesday, October 2nd. Four investment analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $73.00.

Rio Tinto Group Trading Up 0.9 %

NYSE RIO opened at $62.11 on Friday. The business’s 50-day moving average price is $61.02 and its two-hundred day moving average price is $63.37. The company has a current ratio of 1.70, a quick ratio of 1.16 and a debt-to-equity ratio of 0.23. Rio Tinto Group has a 12 month low of $57.85 and a 12 month high of $74.24.

About Rio Tinto Group

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.