Summit Securities Group LLC Lowers Holdings in Rio Tinto plc ADR (RIO)

Summit Securities Group LLC decreased its position in Rio Tinto plc ADR (NYSE:RIO) by 15.4% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 5,500 shares of the mining company’s stock after selling 1,000 shares during the period. Summit Securities Group LLC’s holdings in Rio Tinto were worth $324,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the business. Community Bank N.A. grew its holdings in Rio Tinto by 4.3% in the fourth quarter. Community Bank N.A. now owns 4,848 shares of the mining company’s stock valued at $235,000 after purchasing an additional 200 shares during the last quarter. Parallel Advisors LLC grew its holdings in Rio Tinto by 10.7% in the fourth quarter. Parallel Advisors LLC now owns 2,164 shares of the mining company’s stock valued at $104,000 after purchasing an additional 209 shares during the last quarter. Checchi Capital Advisers LLC grew its holdings in Rio Tinto by 2.2% in the first quarter. Checchi Capital Advisers LLC now owns 10,232 shares of the mining company’s stock valued at $602,000 after purchasing an additional 225 shares during the last quarter. Creative Planning grew its holdings in Rio Tinto by 1.4% in the first quarter. Creative Planning now owns 20,444 shares of the mining company’s stock valued at $1,203,000 after purchasing an additional 287 shares during the last quarter. Finally, Kovack Advisors Inc. grew its holdings in Rio Tinto by 5.7% in the first quarter. Kovack Advisors Inc. now owns 5,605 shares of the mining company’s stock valued at $330,000 after purchasing an additional 300 shares during the last quarter. 7.91% of the stock is currently owned by institutional investors.

Shares of RIO traded up $0.64 during trading hours on Friday, reaching $59.41. 1,265,752 shares of the company traded hands, compared to its average volume of 2,608,656. The company has a quick ratio of 1.65, a current ratio of 1.98 and a debt-to-equity ratio of 0.26. The firm has a market cap of $75.62 billion, a P/E ratio of 11.72 and a beta of 0.83. Rio Tinto plc ADR has a fifty-two week low of $44.62 and a fifty-two week high of $63.27.

A number of research firms recently commented on RIO. Zacks Investment Research lowered Rio Tinto from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, April 10th. Vertical Research raised Rio Tinto from a “sell” rating to a “hold” rating in a research note on Thursday, April 4th. Vertical Group raised Rio Tinto from a “sell” rating to a “hold” rating in a research note on Thursday, April 4th. BNP Paribas lowered Rio Tinto from a “neutral” rating to an “underperform” rating in a research note on Wednesday, April 10th. Finally, CLSA lowered Rio Tinto from an “outperform” rating to an “underperform” rating in a research note on Thursday, February 7th. Five investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and four have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $62.33.

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Rio Tinto Profile

Rio Tinto Group engages in finding, mining, and processing mineral resources worldwide. The company offers aluminium, silver, molybdenum, copper, diamonds, gold, borates, titanium dioxide, salt, iron ore, and uranium. It is also involved in the alumina production; primary aluminium smelting; bauxite mining; alumina refining; and ilmenite mining, as well as provision of gypsum.

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Institutional Ownership by Quarter for Rio Tinto (NYSE:RIO)

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