SG Americas Securities LLC Increases Stake in Rio Tinto Group (NYSE:RIO)

SG Americas Securities LLC increased its position in shares of Rio Tinto Group (NYSE:RIO) by 71.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 5,594 shares of the mining company’s stock after buying an additional 2,331 shares during the period. SG Americas Securities LLC’s holdings in Rio Tinto Group were worth $329,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in RIO. AQR Capital Management LLC acquired a new position in shares of Rio Tinto Group during the 2nd quarter worth about $518,000. Sanctuary Advisors LLC purchased a new stake in Rio Tinto Group during the second quarter worth approximately $1,910,000. Azzad Asset Management Inc. ADV boosted its holdings in Rio Tinto Group by 2.1% in the third quarter. Azzad Asset Management Inc. ADV now owns 22,153 shares of the mining company’s stock valued at $1,577,000 after purchasing an additional 458 shares in the last quarter. Mather Group LLC. increased its stake in Rio Tinto Group by 87.5% in the third quarter. Mather Group LLC. now owns 2,967 shares of the mining company’s stock valued at $211,000 after purchasing an additional 1,385 shares during the last quarter. Finally, Advocate Group LLC raised its holdings in Rio Tinto Group by 17.1% during the third quarter. Advocate Group LLC now owns 45,623 shares of the mining company’s stock worth $3,247,000 after purchasing an additional 6,667 shares in the last quarter. Institutional investors and hedge funds own 19.33% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on RIO. StockNews.com cut shares of Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a report on Saturday, January 25th. Jefferies Financial Group dropped their price objective on Rio Tinto Group from $83.00 to $73.00 and set a “buy” rating on the stock in a report on Monday, January 6th. Finally, Macquarie reissued a “neutral” rating on shares of Rio Tinto Group in a report on Wednesday, October 16th. Four research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Rio Tinto Group has a consensus rating of “Moderate Buy” and an average target price of $73.00.

Rio Tinto Group Price Performance

NYSE RIO opened at $61.24 on Wednesday. The firm’s fifty day moving average is $60.77 and its two-hundred day moving average is $63.05. Rio Tinto Group has a one year low of $57.85 and a one year high of $74.24. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.16 and a current ratio of 1.70.

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.