Janney Montgomery Scott LLC Sells 2,316 Shares of Rio Tinto Group (NYSE:RIO)

Janney Montgomery Scott LLC reduced its stake in shares of Rio Tinto Group (NYSE:RIO) by 2.7% during the third quarter, Holdings Channel reports. The institutional investor owned 84,016 shares of the mining company’s stock after selling 2,316 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Rio Tinto Group were worth $5,979,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the stock. Geneos Wealth Management Inc. raised its stake in Rio Tinto Group by 55.4% in the first quarter. Geneos Wealth Management Inc. now owns 415 shares of the mining company’s stock worth $26,000 after buying an additional 148 shares in the last quarter. GHP Investment Advisors Inc. bought a new stake in shares of Rio Tinto Group during the second quarter valued at approximately $26,000. Winch Advisory Services LLC purchased a new stake in Rio Tinto Group in the third quarter worth $26,000. FSC Wealth Advisors LLC bought a new position in Rio Tinto Group in the third quarter worth $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 buying an additional 173 shares during the period. Hedge funds and other institutional investors own 19.33% of the company’s stock.

Rio Tinto Group Stock Down 4.5 %

NYSE RIO opened at $64.43 on Friday. Rio Tinto Group has a 1-year low of $59.35 and a 1-year high of $75.09. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.70 and a quick ratio of 1.16. The business’s fifty day moving average price is $65.40 and its 200-day moving average price is $66.29.

Wall Street Analyst Weigh In

RIO has been the topic of a number of recent research reports. StockNews.com raised shares of Rio Tinto Group from a “buy” rating to a “strong-buy” rating in a research report on Friday, September 6th. HSBC raised Rio Tinto Group from a “hold” rating to a “buy” rating in a research note on Tuesday, July 23rd. Hsbc Global Res raised Rio Tinto Group to a “strong-buy” rating in a research report on Tuesday, July 23rd. Macquarie restated a “neutral” rating on shares of Rio Tinto Group in a research note on Wednesday, October 16th. Finally, Berenberg Bank raised shares of Rio Tinto Group from a “hold” rating to a “buy” rating in a report on Wednesday, October 2nd. Four equities research analysts have rated the stock with a hold rating, four have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy”.

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.