Goelzer Investment Management Inc. Sells 2,858 Shares of Rio Tinto Group (NYSE:RIO)

Goelzer Investment Management Inc. lowered its position in shares of Rio Tinto Group (NYSE:RIO) by 3.6% during the 4th quarter, Holdings Channel.com reports. The firm owned 76,431 shares of the mining company’s stock after selling 2,858 shares during the period. Goelzer Investment Management Inc.’s holdings in Rio Tinto Group were worth $4,495,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. IVC Wealth Advisors LLC raised its position in shares of Rio Tinto Group by 6.4% during the 4th quarter. IVC Wealth Advisors LLC now owns 10,204 shares of the mining company’s stock valued at $600,000 after purchasing an additional 618 shares during the period. Avior Wealth Management LLC raised its holdings in Rio Tinto Group by 28.6% during the fourth quarter. Avior Wealth Management LLC now owns 5,729 shares of the mining company’s stock valued at $337,000 after acquiring an additional 1,275 shares during the period. Janney Montgomery Scott LLC lifted its position in shares of Rio Tinto Group by 242.9% in the fourth quarter. Janney Montgomery Scott LLC now owns 288,075 shares of the mining company’s stock valued at $16,942,000 after acquiring an additional 204,059 shares in the last quarter. SG Americas Securities LLC boosted its stake in shares of Rio Tinto Group by 71.4% in the fourth quarter. SG Americas Securities LLC now owns 5,594 shares of the mining company’s stock worth $329,000 after acquiring an additional 2,331 shares during the period. Finally, Davis Capital Management boosted its stake in shares of Rio Tinto Group by 6.8% in the fourth quarter. Davis Capital Management now owns 14,828 shares of the mining company’s stock worth $872,000 after acquiring an additional 939 shares during the period. 19.33% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. StockNews.com cut Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a report on Saturday. Macquarie reiterated a “neutral” rating on shares of Rio Tinto Group in a research report on Wednesday, October 16th. Jefferies Financial Group dropped their target price on shares of Rio Tinto Group from $83.00 to $73.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Finally, Berenberg Bank raised shares of Rio Tinto Group from a “hold” rating to a “buy” rating in a research note on Wednesday, October 2nd. Four investment analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Rio Tinto Group currently has a consensus rating of “Moderate Buy” and a consensus target price of $73.00.

Rio Tinto Group Trading Up 0.9 %

NYSE:RIO opened at $62.11 on Friday. Rio Tinto Group has a 1 year low of $57.85 and a 1 year high of $74.24. The stock’s 50 day simple moving average is $60.99 and its two-hundred day simple moving average is $63.41. The company has a quick ratio of 1.16, a current ratio of 1.70 and a debt-to-equity ratio of 0.23.

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.