SG Americas Securities LLC Purchases 22,882 Shares of Rio Tinto Group (NYSE:RIO)

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

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Empowered Funds LLC lifted its holdings in shares of Rio Tinto Group by 39.9% during the fourth quarter. Empowered Funds LLC now owns 4,992 shares of the mining company’s stock valued at $294,000 after purchasing an additional 1,425 shares in the last quarter. Savant Capital LLC lifted its stake in Rio Tinto Group by 37.2% during the 4th quarter. Savant Capital LLC now owns 8,689 shares of the mining company’s stock valued at $511,000 after acquiring an additional 2,354 shares during the period. Allspring Global Investments Holdings LLC boosted its holdings in shares of Rio Tinto Group by 118.4% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 99,853 shares of the mining company’s stock valued at $5,868,000 after acquiring an additional 54,130 shares during the last quarter. Vontobel Holding Ltd. grew its stake in shares of Rio Tinto Group by 3.4% in the fourth quarter. Vontobel Holding Ltd. now owns 9,212 shares of the mining company’s stock worth $542,000 after acquiring an additional 302 shares during the period. Finally, Rhumbline Advisers raised its holdings in shares of Rio Tinto Group by 1.1% during the fourth quarter. Rhumbline Advisers now owns 24,793 shares of the mining company’s stock valued at $1,458,000 after purchasing an additional 266 shares during the last quarter. 19.33% of the stock is owned by institutional investors.

Rio Tinto Group Price Performance

NYSE RIO opened at $57.96 on Monday. The business’s fifty day moving average is $59.46 and its 200 day moving average is $60.56. Rio Tinto Group has a fifty-two week low of $51.67 and a fifty-two week high of $72.08. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.16 and a current ratio of 1.63. The company has a market capitalization of $72.68 billion, a PE ratio of 8.99, a price-to-earnings-growth ratio of 0.42 and a beta of 0.68.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on RIO. Morgan Stanley cut shares of Rio Tinto Group from an “overweight” rating to an “equal weight” rating in a report on Wednesday, April 9th. Jefferies Financial Group restated a “hold” rating on shares of Rio Tinto Group in a research note on Tuesday, June 3rd. JPMorgan Chase & Co. started coverage on Rio Tinto Group in a research report on Tuesday, March 18th. They set an “overweight” rating for the company. DZ Bank raised Rio Tinto Group from a “hold” rating to a “strong-buy” rating in a report on Thursday, March 27th. Finally, Barclays restated an “overweight” rating on shares of Rio Tinto Group in a research note on Wednesday, April 16th. Four investment analysts have rated the stock with a hold rating, five have given a buy rating and three have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $73.00.

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.