Rio Tinto Group (NYSE:RIO) Stake Lessened by Navellier & Associates Inc.

Navellier & Associates Inc. reduced its stake in shares of Rio Tinto Group (NYSE:RIO) by 7.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 46,358 shares of the mining company’s stock after selling 3,540 shares during the quarter. Navellier & Associates Inc.’s holdings in Rio Tinto Group were worth $3,299,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also modified their holdings of the company. GHP Investment Advisors Inc. bought a new stake in Rio Tinto Group during the second quarter valued at about $26,000. Winch Advisory Services LLC bought a new position in shares of Rio Tinto Group during the 3rd quarter worth approximately $26,000. FSC Wealth Advisors LLC acquired a new stake in shares of Rio Tinto Group in the 3rd quarter valued at $28,000. Sound Income Strategies LLC boosted its position in Rio Tinto Group by 70.9% in the third quarter. Sound Income Strategies LLC now owns 417 shares of the mining company’s stock valued at $30,000 after buying an additional 173 shares in the last quarter. Finally, Centerpoint Advisors LLC boosted its holdings in shares of Rio Tinto Group by 110.0% in the 2nd quarter. Centerpoint Advisors LLC now owns 525 shares of the mining company’s stock worth $35,000 after acquiring an additional 275 shares in the last quarter. 19.33% of the stock is currently owned by hedge funds and other institutional investors.

Rio Tinto Group Stock Down 0.0 %

RIO stock opened at $62.37 on Thursday. Rio Tinto Group has a 1-year low of $59.35 and a 1-year high of $75.09. The business’s 50-day moving average price is $65.56 and its two-hundred day moving average price is $65.91. The company has a current ratio of 1.70, a quick ratio of 1.16 and a debt-to-equity ratio of 0.23.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on RIO shares. Berenberg Bank raised shares of Rio Tinto Group from a “hold” rating to a “buy” rating in a report on Wednesday, October 2nd. Macquarie reiterated a “neutral” rating on shares of Rio Tinto Group in a research report on Wednesday, October 16th. StockNews.com cut Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, November 12th. Finally, Royal Bank of Canada raised Rio Tinto Group to a “hold” rating in a research note on Wednesday, July 31st. Four investment analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy”.

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.