Apollon Wealth Management LLC Sells 328 Shares of Rio Tinto Group (NYSE:RIO)

Apollon Wealth Management LLC decreased its stake in Rio Tinto Group (NYSE:RIO) by 2.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 13,773 shares of the mining company’s stock after selling 328 shares during the period. Apollon Wealth Management LLC’s holdings in Rio Tinto Group were worth $980,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Bank of Montreal Can increased its holdings in shares of Rio Tinto Group by 237.0% in the 2nd quarter. Bank of Montreal Can now owns 2,472,471 shares of the mining company’s stock worth $164,493,000 after buying an additional 1,738,752 shares during the last quarter. Natixis Advisors LLC grew its holdings in shares of Rio Tinto Group by 8.7% during the 2nd quarter. Natixis Advisors LLC now owns 695,731 shares of the mining company’s stock valued at $45,870,000 after purchasing an additional 55,967 shares during the last quarter. Philip James Wealth Mangement LLC bought a new position in shares of Rio Tinto Group during the 3rd quarter valued at $1,345,000. First City Capital Management Inc. grew its holdings in shares of Rio Tinto Group by 118.5% during the 2nd quarter. First City Capital Management Inc. now owns 15,178 shares of the mining company’s stock valued at $1,001,000 after purchasing an additional 8,230 shares during the last quarter. Finally, QRG Capital Management Inc. grew its holdings in shares of Rio Tinto Group by 38.1% during the 2nd quarter. QRG Capital Management Inc. now owns 95,497 shares of the mining company’s stock valued at $6,296,000 after purchasing an additional 26,329 shares during the last quarter. Institutional investors own 19.33% of the company’s stock.

Rio Tinto Group Trading Up 0.9 %

Shares of RIO opened at $60.98 on Friday. 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 firm has a fifty day simple moving average of $65.42 and a two-hundred day simple moving average of $66.11. Rio Tinto Group has a twelve month low of $59.35 and a twelve month high of $75.09.

Analyst Ratings Changes

Several research firms recently commented on RIO. Royal Bank of Canada raised shares of Rio Tinto Group to a “hold” rating in a report on Wednesday, July 31st. HSBC raised shares of Rio Tinto Group from a “hold” rating to a “buy” rating in a report on Tuesday, July 23rd. StockNews.com lowered shares of Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a report on Tuesday. Hsbc Global Res raised shares of Rio Tinto Group to a “strong-buy” rating in a research report on Tuesday, July 23rd. Finally, Berenberg Bank raised shares of Rio Tinto Group from a “hold” rating to a “buy” rating in a research report on Wednesday, October 2nd. Four equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy”.

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.