Murphy Pohlad Asset Management LLC Lowers Position in Rio Tinto Group (NYSE:RIO)

Murphy Pohlad Asset Management LLC trimmed its holdings in shares of Rio Tinto Group (NYSE:RIO) by 2.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 17,285 shares of the mining company’s stock after selling 400 shares during the quarter. Murphy Pohlad Asset Management LLC’s holdings in Rio Tinto Group were worth $1,017,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of RIO. Winch Advisory Services LLC purchased a new stake in Rio Tinto Group in the third quarter valued at approximately $26,000. FSC Wealth Advisors LLC purchased a new position in Rio Tinto Group in the third quarter worth $28,000. Thurston Springer Miller Herd & Titak Inc. raised its position in Rio Tinto Group by 63.9% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 500 shares of the mining company’s stock valued at $29,000 after purchasing an additional 195 shares in the last quarter. Sound Income Strategies LLC lifted its stake in Rio Tinto Group by 70.9% during 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 during the last quarter. Finally, Northwest Investment Counselors LLC purchased a new position in shares of Rio Tinto Group in the 3rd quarter worth about $38,000. Hedge funds and other institutional investors own 19.33% of the company’s stock.

Analysts Set New Price Targets

RIO has been the subject of a number of recent research reports. StockNews.com downgraded Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a research report on Saturday, January 25th. Macquarie reaffirmed a “neutral” rating on shares of Rio Tinto Group in a research note on Wednesday, October 16th. Jefferies Financial Group lowered their price target on shares of Rio Tinto Group from $83.00 to $73.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Finally, Berenberg Bank raised 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 issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Rio Tinto Group presently has an average rating of “Moderate Buy” and a consensus price target of $73.00.

Rio Tinto Group Stock Down 0.4 %

Shares of NYSE:RIO opened at $59.64 on Thursday. 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 has a 12 month low of $57.85 and a 12 month high of $74.24. The company has a 50-day moving average price of $60.96 and a 200-day moving average price of $63.21.

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.