Rio Tinto Group (NYSE:RIO) Shares Sold by Marks Group Wealth Management Inc

Marks Group Wealth Management Inc lowered its position in shares of Rio Tinto Group (NYSE:RIO) by 42.8% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 4,056 shares of the mining company’s stock after selling 3,032 shares during the period. Marks Group Wealth Management Inc’s holdings in Rio Tinto Group were worth $239,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of RIO. Palliser Capital UK Ltd grew its position in Rio Tinto Group by 213.8% in the 4th quarter. Palliser Capital UK Ltd now owns 989,417 shares of the mining company’s stock worth $58,188,000 after purchasing an additional 674,117 shares during the last quarter. Fisher Asset Management LLC boosted its position in shares of Rio Tinto Group by 2.9% during the third quarter. Fisher Asset Management LLC now owns 17,528,095 shares of the mining company’s stock worth $1,247,475,000 after buying an additional 485,731 shares during the period. Mediolanum International Funds Ltd bought a new position in Rio Tinto Group in the 3rd quarter worth approximately $33,590,000. SPX Gestao de Recursos Ltda increased its position in Rio Tinto Group by 1,773.2% in the 3rd quarter. SPX Gestao de Recursos Ltda now owns 426,922 shares of the mining company’s stock valued at $30,384,000 after acquiring an additional 404,131 shares during the period. Finally, FMR LLC raised its stake in Rio Tinto Group by 35.1% during the 3rd quarter. FMR LLC now owns 1,381,766 shares of the mining company’s stock valued at $98,340,000 after acquiring an additional 358,630 shares in the last quarter. Institutional investors and hedge funds own 19.33% of the company’s stock.

Rio Tinto Group Stock Performance

Shares of Rio Tinto Group stock opened at $62.02 on Thursday. The business has a fifty day simple moving average of $60.66 and a 200-day simple moving average of $62.96. Rio Tinto Group has a fifty-two week low of $57.85 and a fifty-two week high of $74.24. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.16 and a current ratio of 1.70.

Wall Street Analysts Forecast Growth

RIO has been the subject of several recent analyst reports. Macquarie reissued a “neutral” rating on shares of Rio Tinto Group in a research note on Wednesday, October 16th. Jefferies Financial Group decreased 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, StockNews.com cut shares of Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a research note on Saturday, January 25th. Four investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock 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.