Bailard Inc. lowered its position in Rio Tinto Group (NYSE:RIO – Get Rating) by 1.8% during the third quarter, Holdings Channel reports. The firm owned 10,421 shares of the mining company’s stock after selling 189 shares during the period. Bailard Inc.’s holdings in Rio Tinto Group were worth $574,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Pacer Advisors Inc. lifted its position in shares of Rio Tinto Group by 30.7% during the 3rd quarter. Pacer Advisors Inc. now owns 269,163 shares of the mining company’s stock valued at $14,820,000 after acquiring an additional 63,166 shares during the period. Uncommon Cents Investing LLC lifted its position in shares of Rio Tinto Group by 11.3% during the 3rd quarter. Uncommon Cents Investing LLC now owns 51,395 shares of the mining company’s stock valued at $2,830,000 after acquiring an additional 5,230 shares during the period. Wedbush Securities Inc. lifted its position in shares of Rio Tinto Group by 3.8% during the 3rd quarter. Wedbush Securities Inc. now owns 17,068 shares of the mining company’s stock valued at $940,000 after acquiring an additional 620 shares during the period. YorkBridge Wealth Partners LLC lifted its position in shares of Rio Tinto Group by 2.9% during the 3rd quarter. YorkBridge Wealth Partners LLC now owns 7,100 shares of the mining company’s stock valued at $391,000 after acquiring an additional 203 shares during the period. Finally, BTC Capital Management Inc. lifted its position in shares of Rio Tinto Group by 14.1% during the 3rd quarter. BTC Capital Management Inc. now owns 21,472 shares of the mining company’s stock valued at $1,181,000 after acquiring an additional 2,656 shares during the period. Institutional investors and hedge funds own 10.43% of the company’s stock.
Rio Tinto Group Trading Up 0.9 %
NYSE RIO opened at $71.43 on Wednesday. Rio Tinto Group has a 1 year low of $50.92 and a 1 year high of $84.69. The company has a current ratio of 1.79, a quick ratio of 1.34 and a debt-to-equity ratio of 0.21. The company has a fifty day moving average price of $64.05 and a 200-day moving average price of $60.48.
Analysts Set New Price Targets
A number of research firms recently issued reports on RIO. UBS Group downgraded shares of Rio Tinto Group from a “neutral” rating to a “sell” rating in a research report on Tuesday, December 13th. Citigroup downgraded shares of Rio Tinto Group from a “buy” rating to a “neutral” rating in a report on Thursday, December 1st. JPMorgan Chase & Co. downgraded shares of Rio Tinto Group from a “neutral” rating to an “underweight” rating in a report on Tuesday, December 13th. Morgan Stanley lowered their price objective on shares of Rio Tinto Group from GBX 6,040 ($72.89) to GBX 5,700 ($68.79) in a report on Thursday, December 8th. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on shares of Rio Tinto Group from GBX 5,700 ($68.79) to GBX 5,800 ($70.00) in a report on Wednesday, November 23rd. Five equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $3,856.67.
About Rio Tinto Group
Rio Tinto Group engages in exploring, mining, and processing mineral resources worldwide. The company offers aluminum, copper, diamonds, gold, borates, titanium dioxide, salt, iron ore, and lithium. It also owns and operates open pit and underground mines, mills, refineries, smelters, power stations, and research and service facilities.
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