Rio Tinto Group (NYSE:RIO) Shares Sold by Pitcairn Co.

Pitcairn Co. lessened its stake in shares of Rio Tinto Group (NYSE:RIO) by 7.6% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 19,592 shares of the mining company’s stock after selling 1,621 shares during the quarter. Pitcairn Co.’s holdings in Rio Tinto Group were worth $1,394,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the business. Armstrong Advisory Group Inc. boosted its holdings in shares of Rio Tinto Group by 9.6% during the third quarter. Armstrong Advisory Group Inc. now owns 1,808 shares of the mining company’s stock worth $129,000 after purchasing an additional 159 shares during the last quarter. Eagle Bluffs Wealth Management LLC boosted its holdings in shares of Rio Tinto Group by 1.1% during the second quarter. Eagle Bluffs Wealth Management LLC now owns 14,997 shares of the mining company’s stock worth $989,000 after purchasing an additional 163 shares during the last quarter. Bessemer Group Inc. boosted its holdings in shares of Rio Tinto Group by 2.4% during the first quarter. Bessemer Group Inc. now owns 7,304 shares of the mining company’s stock worth $465,000 after purchasing an additional 169 shares during the last quarter. Sound Income Strategies LLC boosted its holdings in shares of Rio Tinto Group by 70.9% during the third quarter. Sound Income Strategies LLC now owns 417 shares of the mining company’s stock worth $30,000 after purchasing an additional 173 shares during the last quarter. Finally, Concurrent Investment Advisors LLC boosted its holdings in shares of Rio Tinto Group by 4.3% during the third quarter. Concurrent Investment Advisors LLC now owns 4,261 shares of the mining company’s stock worth $303,000 after purchasing an additional 175 shares during the last quarter. Institutional investors and hedge funds own 19.33% of the company’s stock.

Rio Tinto Group Trading Down 0.4 %

Shares of RIO opened at $62.35 on Friday. The stock’s 50-day moving average is $65.57 and its two-hundred day moving average is $65.81. Rio Tinto Group has a 12 month low of $59.35 and a 12 month high of $75.09. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.16 and a current ratio of 1.70.

Analysts Set New Price Targets

Several research firms have recently issued reports on RIO. StockNews.com cut Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a report on Tuesday, November 12th. Royal Bank of Canada raised Rio Tinto Group to a “hold” rating in a research report on Wednesday, July 31st. Berenberg Bank upgraded Rio Tinto Group from a “hold” rating to a “buy” rating in a report on Wednesday, October 2nd. Finally, Macquarie reiterated a “neutral” rating on shares of Rio Tinto Group in a report on Wednesday, October 16th. Four investment analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently 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.