Atria Investments LLC reduced its stake in Rio Tinto Group (NYSE: RIO – Get Rating) by 32.0% in the first quarter, according to the company in its most recent Form 13F filed with the Securities and Exchange Commission. The institutional investor owned 14,872 shares of the mining company after selling 7,005 shares during the period. Atria Investments LLC’s holdings in Rio Tinto Group were worth $1,196,000 when it was last filed with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also recently changed their positions in RIO. Renaissance Technologies LLC increased its stake in Rio Tinto Group by 460.7% in the fourth quarter. Renaissance Technologies LLC now owns 1,322,100 shares of the mining company valued at $88,501,000 after acquiring an additional 1,086,300 shares in the last quarter. SG Americas Securities LLC bought a new position in Rio Tinto Group in the fourth quarter, valued at approximately $57,722,000. Capital World Investors increased its stake in Rio Tinto Group by 8.1% in the fourth quarter. Capital World Investors now owns 8,140,847 shares of the mining company valued at $544,945,000 after acquiring an additional 609,709 shares in the last quarter. Marshall Wace LLP increased its stake in Rio Tinto Group shares by 7,897.3% during the fourth quarter. Marshall Wace LLP now owns 598,440 shares of the mining company worth $40,061,000 after purchasing an additional 590,957 shares in the last quarter. Finally, Fisher Asset Management LLC increased its stake in shares of the Rio Tinto group by 1.5% during the fourth quarter. Fisher Asset Management LLC now owns 13,552,659 shares of the mining company worth $907,215,000 after purchasing an additional 194,326 shares in the last quarter. 10.84% of the shares are currently held by institutional investors and hedge funds.
Changes to analyst ratings
RIO has been the subject of several research reports. StockNews.com upgraded Rio Tinto Group shares from a “strong buy” rating to a “buy” rating in a Thursday, May 12 research rating. Goldman Sachs Group upgraded Rio Tinto Group shares from a “neutral” rating to a “buy” rating in a Monday, April 11 research note. Liberum Capital upgraded Rio Tinto Group shares from a “hold” rating to a “sell” rating in a Wednesday May 4 research note. UBS Group reduced its price target on Rio Tinto Group shares from 4,550 GBX ($54.82) to 4,400 GBX ($53.01) in a Monday, July 18 research note. Finally, Jefferies Financial Group upgraded Rio Tinto Group shares from a “hold” to a “buy” rating in a Tuesday, June 7 research note. Four analysts gave the stock a sell rating, nine gave the company a hold rating and seven gave the company a buy rating. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $4,211.67.
The Rio Tinto group is up 0.5%
Shares of RIO opened at $59.42 on Thursday. The company has a debt ratio of 0.23, a quick ratio of 1.50 and a current ratio of 1.93. Rio Tinto Group has a 12-month low of $53.83 and a 12-month high of $89.51. The company’s fifty-day simple moving average is $64.99 and its 200-day simple moving average is $71.90.
Rio Tinto Group Profile
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The Rio Tinto group is engaged in the exploration, exploitation and processing of mineral resources worldwide. The Company offers aluminum, copper, diamonds, gold, borates, titanium dioxide, salt, iron ore and lithium. It also owns and operates surface and underground mines, mills, refineries, smelters, power plants, and research and service facilities.
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