Acadian Asset Management LLC Sells 2,469,720 Shares of Rio Tinto Group (NYSE:RIO)

Acadian Asset Management LLC lowered its stake in Rio Tinto Group (NYSE:RIO) by 69.3% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,094,991 shares of the mining company’s stock after selling 2,469,720 shares during the period. Acadian Asset Management LLC’s holdings in Rio Tinto Group were worth $69,778,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of RIO. Bruce G. Allen Investments LLC bought a new position in shares of Rio Tinto Group in the fourth quarter worth $47,000. Dynamic Advisor Solutions LLC bought a new position in Rio Tinto Group in the fourth quarter valued at about $289,000. Whittier Trust Co. grew its position in Rio Tinto Group by 3.0% in the fourth quarter. Whittier Trust Co. now owns 16,798 shares of the mining company’s stock valued at $1,251,000 after acquiring an additional 482 shares during the last quarter. Financial Management Professionals Inc. grew its position in Rio Tinto Group by 250.6% in the fourth quarter. Financial Management Professionals Inc. now owns 617 shares of the mining company’s stock valued at $46,000 after acquiring an additional 441 shares during the last quarter. Finally, Redhawk Wealth Advisors Inc. bought a new position in Rio Tinto Group in the fourth quarter valued at about $537,000. Institutional investors own 19.33% of the company’s stock.

Analyst Ratings Changes

RIO has been the topic of a number of recent analyst reports. Citigroup cut Rio Tinto Group from a “buy” rating to a “neutral” rating in a research report on Monday, May 20th. StockNews.com upgraded Rio Tinto Group from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, May 21st. Finally, Berenberg Bank cut Rio Tinto Group from a “buy” rating to a “hold” rating in a research report on Thursday, June 27th. Four analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy”.

Rio Tinto Group Stock Performance

Shares of RIO stock traded down $0.59 during mid-day trading on Friday, reaching $63.78. 2,312,432 shares of the stock traded hands, compared to its average volume of 2,013,289. The stock’s fifty day simple moving average is $68.28 and its two-hundred day simple moving average is $67.38. Rio Tinto Group has a 1-year low of $58.27 and a 1-year high of $75.09. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.17 and a current ratio of 1.69.

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.