Sharp Financial Services LLC Cuts Position in Rio Tinto Group (NYSE:RIO)

Sharp Financial Services LLC trimmed its position in Rio Tinto Group (NYSE:RIO) by 37.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,900 shares of the mining company’s stock after selling 3,560 shares during the quarter. Sharp Financial Services LLC’s holdings in Rio Tinto Group were worth $347,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Armstrong Advisory Group Inc. raised its holdings in shares of Rio Tinto Group by 9.6% in the 3rd quarter. Armstrong Advisory Group Inc. now owns 1,808 shares of the mining company’s stock worth $129,000 after purchasing an additional 159 shares during the period. Sound Income Strategies LLC grew its stake in shares of 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. Concurrent Investment Advisors LLC grew its stake in shares of Rio Tinto Group by 4.3% in the third quarter. Concurrent Investment Advisors LLC now owns 4,261 shares of the mining company’s stock valued at $303,000 after buying an additional 175 shares in the last quarter. Fiduciary Financial Group LLC grew its stake in shares of Rio Tinto Group by 3.7% in the third quarter. Fiduciary Financial Group LLC now owns 4,945 shares of the mining company’s stock valued at $330,000 after buying an additional 178 shares in the last quarter. Finally, Evergreen Capital Management LLC grew its stake in shares of Rio Tinto Group by 1.2% in the second quarter. Evergreen Capital Management LLC now owns 15,515 shares of the mining company’s stock valued at $1,023,000 after buying an additional 179 shares in the last quarter. 19.33% of the stock is currently owned by hedge funds and other institutional investors.

Rio Tinto Group Stock Performance

Shares of NYSE RIO opened at $61.15 on Thursday. Rio Tinto Group has a fifty-two week low of $57.85 and a fifty-two week high of $74.24. The business has a 50 day moving average price of $60.96 and a two-hundred day moving average price of $63.44. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.16 and a current ratio of 1.70.

Wall Street Analyst Weigh In

RIO has been the subject of a number of recent research reports. Berenberg Bank upgraded Rio Tinto Group from a “hold” rating to a “buy” rating in a research note on Wednesday, October 2nd. Jefferies Financial Group lowered their target price on Rio Tinto Group from $83.00 to $73.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Macquarie reiterated a “neutral” rating on shares of Rio Tinto Group in a research note on Wednesday, October 16th. Finally, StockNews.com upgraded Rio Tinto Group from a “buy” rating to a “strong-buy” rating in a research note on Friday, January 17th. Four equities research analysts have rated the stock with a hold rating, three have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $73.00.

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.