Rio Tinto Group (NYSE:RIO) Stock Holdings Trimmed by Pathstone Holdings LLC

Pathstone Holdings LLC lessened its position in shares of Rio Tinto Group (NYSE:RIO) by 8.6% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 33,184 shares of the mining company’s stock after selling 3,107 shares during the period. Pathstone Holdings LLC’s holdings in Rio Tinto Group were worth $2,362,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. GHP Investment Advisors Inc. acquired a new position in Rio Tinto Group in the second quarter worth $26,000. Winch Advisory Services LLC acquired a new position in shares of Rio Tinto Group in the 3rd quarter valued at about $26,000. FSC Wealth Advisors LLC bought a new stake in shares of Rio Tinto Group during the 3rd quarter valued at about $28,000. Sound Income Strategies LLC raised 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 acquiring an additional 173 shares during the period. Finally, Centerpoint Advisors LLC lifted its holdings in Rio Tinto Group by 110.0% in the second quarter. Centerpoint Advisors LLC now owns 525 shares of the mining company’s stock worth $35,000 after acquiring an additional 275 shares during the last quarter. Institutional investors and hedge funds own 19.33% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on RIO shares. Berenberg Bank upgraded Rio Tinto Group from a “hold” rating to a “buy” rating in a research report on Wednesday, October 2nd. Macquarie restated a “neutral” rating on shares of Rio Tinto Group in a research note on Wednesday, October 16th. StockNews.com lowered shares of Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, November 12th. Finally, Royal Bank of Canada upgraded shares of Rio Tinto Group to a “hold” rating in a research report on Wednesday, July 31st. Four analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy”.

Rio Tinto Group Stock Up 1.0 %

Shares of NYSE:RIO opened at $62.97 on Tuesday. 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 1-year low of $59.35 and a 1-year high of $75.09. The company has a 50 day moving average price of $65.57 and a 200 day moving average price of $65.74.

About Rio Tinto Group

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.