Sunbelt Securities Inc. Sells 1,650 Shares of Rio Tinto PLC (NYSE:RIO)

Sunbelt Securities Inc. decreased its position in Rio Tinto PLC (NYSE:RIO) by 76.7% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 500 shares of the mining company’s stock after selling 1,650 shares during the quarter. Sunbelt Securities Inc.’s holdings in Rio Tinto were worth $30,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in RIO. XTX Topco Ltd bought a new stake in Rio Tinto during the fourth quarter worth approximately $1,241,000. Rossby Financial LCC bought a new stake in Rio Tinto during the fourth quarter worth approximately $360,000. Farther Finance Advisors LLC boosted its position in Rio Tinto by 24.2% during the first quarter. Farther Finance Advisors LLC now owns 4,023 shares of the mining company’s stock worth $242,000 after purchasing an additional 785 shares during the period. Schroder Investment Management Group boosted its position in Rio Tinto by 3.2% during the fourth quarter. Schroder Investment Management Group now owns 32,258 shares of the mining company’s stock worth $1,890,000 after purchasing an additional 1,009 shares during the period. Finally, Norges Bank bought a new stake in Rio Tinto during the fourth quarter worth approximately $432,000. 19.33% of the stock is currently owned by institutional investors and hedge funds.

Rio Tinto Stock Performance

Shares of NYSE RIO opened at $58.35 on Tuesday. The business has a fifty day simple moving average of $59.67 and a 200 day simple moving average of $60.09. The company has a current ratio of 1.63, a quick ratio of 1.13 and a debt-to-equity ratio of 0.23. The firm has a market capitalization of $73.17 billion, a price-to-earnings ratio of 9.05 and a beta of 0.68. Rio Tinto PLC has a one year low of $51.67 and a one year high of $72.08.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. DZ Bank upgraded Rio Tinto from a “hold” rating to a “strong-buy” rating in a report on Thursday, March 27th. Wall Street Zen lowered Rio Tinto from a “strong-buy” rating to a “buy” rating in a report on Monday, April 28th. JPMorgan Chase & Co. assumed coverage on Rio Tinto in a report on Tuesday, March 18th. They set an “overweight” rating for the company. Barclays reiterated an “overweight” rating on shares of Rio Tinto in a report on Wednesday, April 16th. Finally, Morgan Stanley lowered Rio Tinto from an “overweight” rating to an “equal weight” rating in a report on Wednesday, April 9th. Four analysts have rated the stock with a hold rating, five have assigned a buy rating and three have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Rio Tinto presently has an average rating of “Moderate Buy” and a consensus price target of $73.00.

Rio Tinto 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.