Rio Tinto Group (NYSE:RIO) Stock Position Trimmed by Triangle Securities Wealth Management

Triangle Securities Wealth Management trimmed its position in shares of Rio Tinto Group (NYSE:RIO) by 11.4% in the fourth quarter, HoldingsChannel reports. The firm owned 9,084 shares of the mining company’s stock after selling 1,170 shares during the period. Triangle Securities Wealth Management’s holdings in Rio Tinto Group were worth $534,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Brooklyn Investment Group lifted its holdings in Rio Tinto Group by 467.2% in the fourth quarter. Brooklyn Investment Group now owns 1,072 shares of the mining company’s stock worth $63,000 after purchasing an additional 883 shares during the period. Walker Asset Management LLC boosted its position in shares of Rio Tinto Group by 13.8% during the 4th quarter. Walker Asset Management LLC now owns 4,126 shares of the mining company’s stock valued at $243,000 after purchasing an additional 500 shares in the last quarter. CNB Bank raised its holdings in shares of Rio Tinto Group by 100.0% in the 4th quarter. CNB Bank now owns 2,000 shares of the mining company’s stock worth $118,000 after purchasing an additional 1,000 shares in the last quarter. Empirical Asset Management LLC acquired a new stake in shares of Rio Tinto Group during the 4th quarter valued at $1,600,000. Finally, Cohen Investment Advisors LLC lifted its holdings in shares of Rio Tinto Group by 3.8% during the fourth quarter. Cohen Investment Advisors LLC now owns 5,352 shares of the mining company’s stock valued at $315,000 after purchasing an additional 198 shares during the last quarter. 19.33% of the stock is currently owned by institutional investors and hedge funds.

Rio Tinto Group Trading Up 2.0 %

Rio Tinto Group stock opened at $61.00 on Friday. The firm’s 50 day moving average price is $60.98 and its two-hundred day moving average price is $63.57. Rio Tinto Group has a twelve month low of $57.85 and a twelve month high of $74.24. The company has a current ratio of 1.70, a quick ratio of 1.16 and a debt-to-equity ratio of 0.23.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Berenberg Bank raised shares of Rio Tinto Group from a “hold” rating to a “buy” rating in a research note on Wednesday, October 2nd. Macquarie reaffirmed a “neutral” rating on shares of Rio Tinto Group in a research note on Wednesday, October 16th. Jefferies Financial Group cut their target price on shares of Rio Tinto Group from $83.00 to $73.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. Finally, StockNews.com raised Rio Tinto Group from a “buy” rating to a “strong-buy” rating in a research report on Friday. Four analysts have rated the stock with a hold rating, three have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $73.00.

Rio Tinto Group 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.