Murphy Pohlad Asset Management LLC Sells 2,050 Shares of Rio Tinto Group (NYSE:RIO)

Murphy Pohlad Asset Management LLC reduced its position in Rio Tinto Group (NYSE:RIO) by 10.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,685 shares of the mining company’s stock after selling 2,050 shares during the quarter. Murphy Pohlad Asset Management LLC’s holdings in Rio Tinto Group were worth $1,259,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Geneos Wealth Management Inc. raised its holdings in shares of Rio Tinto Group by 55.4% in the first quarter. Geneos Wealth Management Inc. now owns 415 shares of the mining company’s stock valued at $26,000 after acquiring an additional 148 shares in the last quarter. GHP Investment Advisors Inc. bought a new position in Rio Tinto Group in the second quarter worth about $26,000. Winch Advisory Services LLC bought a new position in Rio Tinto Group in the third quarter worth about $26,000. FSC Wealth Advisors LLC bought a new position in Rio Tinto Group in the third quarter worth about $28,000. Finally, Sound Income Strategies LLC raised its holdings in Rio Tinto Group by 70.9% in the third quarter. Sound Income Strategies LLC now owns 417 shares of the mining company’s stock worth $30,000 after purchasing an additional 173 shares in the last quarter. 19.33% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Hsbc Global Res upgraded shares of Rio Tinto Group to a “strong-buy” rating in a report on Tuesday, July 23rd. HSBC upgraded shares of Rio Tinto Group from a “hold” rating to a “buy” rating in a report on Tuesday, July 23rd. StockNews.com upgraded shares of Rio Tinto Group from a “buy” rating to a “strong-buy” rating in a report on Friday, September 6th. Royal Bank of Canada upgraded shares of Rio Tinto Group to a “hold” rating in a report on Wednesday, July 31st. Finally, Macquarie reiterated a “neutral” rating on shares of Rio Tinto Group in a report on Wednesday, October 16th. Four research analysts have rated the stock with a hold rating, four have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy”.

Rio Tinto Group Stock Performance

Shares of RIO stock opened at $65.32 on Friday. Rio Tinto Group has a fifty-two week low of $59.35 and a fifty-two week high of $75.09. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.16 and a current ratio of 1.70. The stock’s 50-day simple moving average is $65.19 and its 200-day simple moving average is $66.33.

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.