Sequoia Financial Advisors LLC reduced its holdings in Rio Tinto Group (NYSE:RIO – Free Report) by 2.0% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 8,411 shares of the mining company’s stock after selling 173 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Rio Tinto Group were worth $535,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors have also recently added to or reduced their stakes in RIO. Arrowstreet Capital Limited Partnership increased its stake in Rio Tinto Group by 58.9% in the first quarter. Arrowstreet Capital Limited Partnership now owns 12,899,694 shares of the mining company’s stock valued at $1,037,135,000 after purchasing an additional 4,783,488 shares during the last quarter. Cowa LLC acquired a new position in Rio Tinto Group in the first quarter valued at $26,000. Wellington Management Group LLP increased its stake in Rio Tinto Group by 26.9% during the first quarter. Wellington Management Group LLP now owns 5,475,787 shares of the mining company’s stock worth $440,253,000 after acquiring an additional 1,161,737 shares during the last quarter. Bank of Montreal Can acquired a new stake in Rio Tinto Group during the second quarter worth about $61,808,000. Finally, Capital World Investors increased its stake in Rio Tinto Group by 8.0% during the second quarter. Capital World Investors now owns 9,207,412 shares of the mining company’s stock worth $587,801,000 after acquiring an additional 683,010 shares during the last quarter. 10.03% of the stock is currently owned by institutional investors and hedge funds.
Rio Tinto Group Trading Down 0.3 %
Shares of NYSE RIO opened at $67.92 on Friday. Rio Tinto Group has a 1-year low of $58.27 and a 1-year high of $76.54. The company has a quick ratio of 1.37, a current ratio of 1.99 and a debt-to-equity ratio of 0.25. The business has a 50-day moving average of $70.86 and a 200-day moving average of $66.45.
Analyst Upgrades and Downgrades
RIO has been the subject of several research analyst reports. BNP Paribas upgraded Rio Tinto Group from a “neutral” rating to an “outperform” rating in a research note on Tuesday, December 5th. StockNews.com lowered Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a research note on Friday, November 10th. The Goldman Sachs Group started coverage on Rio Tinto Group in a research note on Friday, January 12th. They set a “buy” rating for the company. Barclays raised Rio Tinto Group from an “equal weight” rating to an “overweight” rating in a research report on Tuesday, October 24th. Finally, Liberum Capital raised Rio Tinto Group from a “hold” rating to a “buy” rating in a research report on Friday, December 1st. One equities research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $72.00.
View Our Latest Report on RIO
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. It offers aluminum, copper, iron ore, diamonds, gold, borates, titanium dioxide, salt, silver, molybdenum, and lithium. The company also owns and operates open pit and underground mines, refineries, smelters, and concentrator facilities, as well as power stations, research, and service facilities.
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