Apollon Wealth Management LLC Decreases Stock Position in Rio Tinto Group (NYSE:RIO)

Apollon Wealth Management LLC lessened its position in shares of 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 reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. GHP Investment Advisors Inc. bought a new position in Rio Tinto Group during the second quarter worth about $26,000. Winch Advisory Services LLC purchased a new stake in shares of Rio Tinto Group during the 3rd quarter valued at approximately $26,000. FSC Wealth Advisors LLC purchased a new stake in shares of Rio Tinto Group during the 3rd quarter valued at approximately $28,000. Sound Income Strategies LLC lifted its stake in shares of Rio Tinto Group by 70.9% during the 3rd 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 in the last quarter. Finally, Centerpoint Advisors LLC lifted its stake in shares of Rio Tinto Group by 110.0% during the 2nd quarter. Centerpoint Advisors LLC now owns 525 shares of the mining company’s stock valued at $35,000 after buying an additional 275 shares in the last quarter. Institutional investors own 19.33% of the company’s stock.

Wall Street Analyst Weigh In

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

Rio Tinto Group Stock Performance

Rio Tinto Group stock opened at $60.98 on Friday. The firm’s 50 day simple moving average is $65.42 and its 200 day simple moving average is $66.11. The company has a quick ratio of 1.16, a current ratio of 1.70 and a debt-to-equity ratio of 0.23. Rio Tinto Group has a 1-year low of $59.35 and a 1-year high of $75.09.

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.