Chesapeake Capital Corp IL Reduces Holdings in Rio Tinto Group (NYSE:RIO)

Chesapeake Capital Corp IL trimmed its position in Rio Tinto Group (NYSE:RIO) by 31.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,727 shares of the mining company’s stock after selling 3,082 shares during the quarter. Chesapeake Capital Corp IL’s holdings in Rio Tinto Group were worth $479,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. GHP Investment Advisors Inc. purchased a new position in shares of Rio Tinto Group in the 2nd quarter valued at $26,000. Winch Advisory Services LLC purchased a new position in shares of Rio Tinto Group in the 3rd quarter valued at $26,000. FSC Wealth Advisors LLC purchased a new position in Rio Tinto Group during the 3rd quarter worth $28,000. Sound Income Strategies LLC grew its position in Rio Tinto Group by 70.9% during the 3rd quarter. Sound Income Strategies LLC now owns 417 shares of the mining company’s stock worth $30,000 after purchasing an additional 173 shares during the last quarter. Finally, Centerpoint Advisors LLC grew its position in Rio Tinto Group by 110.0% during the 2nd quarter. Centerpoint Advisors LLC now owns 525 shares of the mining company’s stock worth $35,000 after purchasing an additional 275 shares during the last quarter. 19.33% of the stock is currently owned by institutional investors and hedge funds.

Rio Tinto Group Trading Up 0.9 %

RIO stock opened at $60.98 on Monday. Rio Tinto Group has a one year low of $59.35 and a one year 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 company has a fifty day moving average of $65.44 and a 200-day moving average of $66.03.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on RIO. Berenberg Bank raised shares of Rio Tinto Group from a “hold” rating to a “buy” rating in a research report on Wednesday, October 2nd. StockNews.com downgraded shares of Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, November 12th. Royal Bank of Canada raised shares of Rio Tinto Group to a “hold” rating in a research report on Wednesday, July 31st. HSBC upgraded shares of Rio Tinto Group from a “hold” rating to a “buy” rating in a research note on Tuesday, July 23rd. Finally, Macquarie restated a “neutral” rating on shares of Rio Tinto Group in a research note on Wednesday, October 16th. Four equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy”.

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.