Parsons Capital Management Inc. RI Trims Stake in Rio Tinto Group (NYSE:RIO)

Parsons Capital Management Inc. RI cut its stake in Rio Tinto Group (NYSE:RIOFree Report) by 50.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 26,625 shares of the mining company’s stock after selling 27,345 shares during the period. Parsons Capital Management Inc. RI’s holdings in Rio Tinto Group were worth $1,566,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of RIO. Thrivent Financial for Lutherans boosted its position in shares of Rio Tinto Group by 25.3% during the second quarter. Thrivent Financial for Lutherans now owns 27,258 shares of the mining company’s stock valued at $1,797,000 after purchasing an additional 5,511 shares in the last quarter. AQR Capital Management LLC purchased a new position in Rio Tinto Group during the second quarter valued at $518,000. Creative Planning boosted its holdings in shares of Rio Tinto Group by 4.6% during the 2nd quarter. Creative Planning now owns 76,747 shares of the mining company’s stock valued at $5,060,000 after buying an additional 3,360 shares in the last quarter. NewEdge Advisors LLC grew its position in shares of Rio Tinto Group by 289.4% in the 2nd quarter. NewEdge Advisors LLC now owns 113,800 shares of the mining company’s stock worth $7,503,000 after buying an additional 84,574 shares during the period. Finally, Northwestern Mutual Wealth Management Co. increased its stake in shares of Rio Tinto Group by 7.2% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 40,583 shares of the mining company’s stock worth $2,676,000 after acquiring an additional 2,728 shares in the last quarter. 19.33% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently 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. StockNews.com downgraded Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a research note on Saturday. Macquarie reiterated a “neutral” rating on shares of Rio Tinto Group in a research note on Wednesday, October 16th. Finally, Jefferies Financial Group cut their target price on 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. Four investment 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. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $73.00.

Check Out Our Latest Stock Analysis on Rio Tinto Group

Rio Tinto Group Price Performance

Shares of NYSE RIO opened at $61.97 on Tuesday. The company has a 50 day moving average of $61.02 and a 200 day moving average of $63.32. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.16 and a current ratio of 1.70. Rio Tinto Group has a twelve month low of $57.85 and a twelve month high of $74.24.

Rio Tinto Group Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Rio Tinto Group (NYSE:RIO)

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