Rockefeller Capital Management L.P. Reduces Stock Position in Rio Tinto Group (NYSE:RIO)

Rockefeller Capital Management L.P. trimmed its holdings in shares of Rio Tinto Group (NYSE:RIO) by 26.9% in the third quarter, Holdings Channel reports. The institutional investor owned 202,206 shares of the mining company’s stock after selling 74,526 shares during the period. Rockefeller Capital Management L.P.’s holdings in Rio Tinto Group were worth $14,387,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Armstrong Advisory Group Inc. lifted its stake in 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 raised its holdings in 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 in the last quarter. Sound Income Strategies LLC lifted its position 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 worth $30,000 after buying an additional 173 shares during the last quarter. Concurrent Investment Advisors LLC boosted its holdings in shares of Rio Tinto Group by 4.3% in the 3rd quarter. Concurrent Investment Advisors LLC now owns 4,261 shares of the mining company’s stock valued at $303,000 after buying an additional 175 shares in the last quarter. Finally, Fiduciary Financial Group LLC grew its position in shares of Rio Tinto Group by 3.7% in the 3rd quarter. Fiduciary Financial Group LLC now owns 4,945 shares of the mining company’s stock valued at $330,000 after buying an additional 178 shares during the last quarter. 19.33% of the stock is owned by institutional investors and hedge funds.

Rio Tinto Group Price Performance

Shares of NYSE:RIO opened at $63.27 on Tuesday. Rio Tinto Group has a one year low of $59.35 and a one year high of $75.09. The company has a 50-day simple moving average of $65.46 and a 200-day simple moving average of $65.53. The company has a quick ratio of 1.16, a current ratio of 1.70 and a debt-to-equity ratio of 0.23.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on RIO shares. Macquarie reissued a “neutral” rating on shares of Rio Tinto Group in a research report on Wednesday, October 16th. StockNews.com cut Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, November 12th. Finally, Berenberg Bank raised Rio Tinto Group from a “hold” rating to a “buy” rating in a research report on Wednesday, October 2nd. Four research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy”.

About Rio Tinto Group

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.