Capital World Investors Sells 3,531,000 Shares of Rio Tinto Group (NYSE:RIO)

Capital World Investors trimmed its stake in shares of Rio Tinto Group (NYSE:RIO) by 42.5% during the 4th quarter, Holdings Channel.com reports. The fund owned 4,786,926 shares of the mining company’s stock after selling 3,531,000 shares during the quarter. Capital World Investors’ holdings in Rio Tinto Group were worth $356,435,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. AdvisorNet Financial Inc grew its position in Rio Tinto Group by 785.7% during the 4th quarter. AdvisorNet Financial Inc now owns 372 shares of the mining company’s stock worth $28,000 after acquiring an additional 330 shares during the last quarter. Parkside Financial Bank & Trust lifted its holdings in Rio Tinto Group by 39.3% in the 4th quarter. Parkside Financial Bank & Trust now owns 553 shares of the mining company’s stock worth $41,000 after buying an additional 156 shares during the period. Financial Management Professionals Inc. lifted its holdings in Rio Tinto Group by 250.6% in the 4th quarter. Financial Management Professionals Inc. now owns 617 shares of the mining company’s stock worth $46,000 after buying an additional 441 shares during the period. Bruce G. Allen Investments LLC purchased a new stake in Rio Tinto Group in the 4th quarter worth approximately $47,000. Finally, Bogart Wealth LLC lifted its holdings in Rio Tinto Group by 279.3% in the 4th quarter. Bogart Wealth LLC now owns 679 shares of the mining company’s stock worth $51,000 after buying an additional 500 shares during the period. 19.33% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on RIO shares. Liberum Capital reiterated a “hold” rating on shares of Rio Tinto Group in a report on Tuesday, March 5th. StockNews.com upgraded Rio Tinto Group from a “buy” rating to a “strong-buy” rating in a report on Tuesday, May 21st. Finally, Citigroup cut Rio Tinto Group from a “buy” rating to a “neutral” rating in a report on Monday, May 20th. Three analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $72.00.

Rio Tinto Group Stock Up 0.7 %

Shares of RIO traded up $0.47 on Thursday, reaching $68.55. The stock had a trading volume of 355,327 shares, compared to its average volume of 2,859,489. The company has a current ratio of 1.69, a quick ratio of 1.17 and a debt-to-equity ratio of 0.23. The company has a 50-day simple moving average of $68.33 and a 200-day simple moving average of $68.44. Rio Tinto Group has a 12-month low of $58.27 and a 12-month high of $75.09.

Rio Tinto Group Company 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.