Rio Tinto Group (NYSE:RIO) Stock Holdings Trimmed by Pinnacle Wealth Planning Services Inc.

Pinnacle Wealth Planning Services Inc. decreased its position in shares of Rio Tinto Group (NYSE:RIO) by 10.7% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,900 shares of the mining company’s stock after selling 826 shares during the period. Pinnacle Wealth Planning Services Inc.’s holdings in Rio Tinto Group were worth $440,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the company. Meritage Portfolio Management boosted its position in Rio Tinto Group by 0.3% during the fourth quarter. Meritage Portfolio Management now owns 42,192 shares of the mining company’s stock valued at $3,142,000 after purchasing an additional 147 shares during the last quarter. Russell Investments Group Ltd. lifted its position in shares of Rio Tinto Group by 0.4% in the first quarter. Russell Investments Group Ltd. now owns 39,964 shares of the mining company’s stock worth $2,547,000 after buying an additional 147 shares during the last quarter. Geneos Wealth Management Inc. lifted its position in shares of Rio Tinto Group by 55.4% in the first quarter. Geneos Wealth Management Inc. now owns 415 shares of the mining company’s stock worth $26,000 after buying an additional 148 shares during the last quarter. EverSource Wealth Advisors LLC lifted its position in shares of Rio Tinto Group by 8.5% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,922 shares of the mining company’s stock worth $143,000 after buying an additional 150 shares during the last quarter. Finally, Optas LLC increased its stake in shares of Rio Tinto Group by 4.2% in the first quarter. Optas LLC now owns 3,833 shares of the mining company’s stock worth $244,000 after purchasing an additional 154 shares during the period. Institutional investors and hedge funds own 19.33% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. StockNews.com upgraded Rio Tinto Group from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, May 21st. Berenberg Bank lowered Rio Tinto Group from a “buy” rating to a “hold” rating in a research note on Thursday, June 27th. Finally, Citigroup lowered Rio Tinto Group from a “buy” rating to a “neutral” rating in a research note on Monday, May 20th. Four research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Rio Tinto Group presently has a consensus rating of “Moderate Buy”.

Rio Tinto Group Price Performance

Shares of RIO traded down $0.59 on Friday, hitting $63.78. The company’s stock had a trading volume of 2,312,432 shares, compared to its average volume of 2,013,289. The company has a quick ratio of 1.17, a current ratio of 1.69 and a debt-to-equity ratio of 0.23. Rio Tinto Group has a fifty-two week low of $58.27 and a fifty-two week high of $75.09. The company has a 50 day moving average price of $68.28 and a 200 day moving average price of $67.42.

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.