Barclays PLC Cuts Stake in Rio Tinto Group (NYSE:RIO)

Barclays PLC lowered its position in shares of Rio Tinto Group (NYSE:RIO – Get Rating) by 19.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 303,549 shares of the mining company’s stock after selling 74,431 shares during the period. Barclays PLC’s holdings in Rio Tinto Group were worth $16,713,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in RIO. Bank of New York Mellon Corp grew its stake in Rio Tinto Group by 23.9% in the first quarter. Bank of New York Mellon Corp now owns 61,529 shares of the mining company’s stock valued at $4,947,000 after purchasing an additional 11,879 shares during the last quarter. Cetera Advisor Networks LLC grew its stake in Rio Tinto Group by 33.8% in the first quarter. Cetera Advisor Networks LLC now owns 6,549 shares of the mining company’s stock valued at $527,000 after purchasing an additional 1,654 shares during the last quarter. BlackRock Inc. grew its stake in Rio Tinto Group by 19.4% in the first quarter. BlackRock Inc. now owns 1,539,846 shares of the mining company’s stock valued at $123,803,000 after purchasing an additional 250,480 shares during the last quarter. Vontobel Holding Ltd. purchased a new position in Rio Tinto Group in the first quarter valued at about $499,000. Finally, Cetera Investment Advisers grew its stake in Rio Tinto Group by 141.7% in the first quarter. Cetera Investment Advisers now owns 13,466 shares of the mining company’s stock valued at $1,083,000 after purchasing an additional 7,894 shares during the last quarter. Hedge funds and other institutional investors own 10.43% of the company’s stock.

Rio Tinto Group Trading Up 0.3 %

Rio Tinto Group stock opened at $78.99 on Wednesday. The company has a quick ratio of 1.34, a current ratio of 1.79 and a debt-to-equity ratio of 0.21. Rio Tinto Group has a 52 week low of $50.92 and a 52 week high of $87.00. The stock has a 50-day moving average price of $71.18 and a 200 day moving average price of $62.16.

Analyst Ratings Changes

Several equities analysts have issued reports on RIO shares. Morgan Stanley lifted their target price on Rio Tinto Group from GBX 5,750 ($71.19) to GBX 5,790 ($71.69) in a research note on Monday. Deutsche Bank Aktiengesellschaft lifted their target price on Rio Tinto Group from GBX 5,800 ($71.81) to GBX 6,200 ($76.76) in a research note on Tuesday, January 10th. UBS Group lowered Rio Tinto Group from a “neutral” rating to a “sell” rating in a research note on Tuesday, December 13th. Barclays upgraded Rio Tinto Group from an “underweight” rating to an “equal weight” rating in a research note on Thursday, January 12th. Finally, JPMorgan Chase & Co. raised their price target on Rio Tinto Group from GBX 5,310 ($65.74) to GBX 5,380 ($66.61) in a report on Wednesday, January 18th. Four equities research analysts have rated the stock with a sell rating, six have issued a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $4,360.00.

Rio Tinto Group Company Profile

(Get Rating)

Rio Tinto Group engages in exploring, mining, and processing mineral resources worldwide. The company offers aluminum, copper, diamonds, gold, borates, titanium dioxide, salt, iron ore, and lithium. It also owns and operates open pit and underground mines, mills, refineries, smelters, power stations, and research and service facilities.