Rio Tinto Group (NYSE:RIO) Shares Sold by Focus Financial Network Inc.

Focus Financial Network Inc. cut its stake in shares of Rio Tinto Group (NYSE:RIO) by 20.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,702 shares of the mining company’s stock after selling 1,174 shares during the quarter. Focus Financial Network Inc.’s holdings in Rio Tinto Group were worth $277,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Winch Advisory Services LLC purchased a new stake in shares of Rio Tinto Group in the third quarter valued at about $26,000. FSC Wealth Advisors LLC acquired a new stake in Rio Tinto Group in the third quarter valued at about $28,000. Thurston Springer Miller Herd & Titak Inc. boosted its holdings in Rio Tinto Group by 63.9% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 500 shares of the mining company’s stock valued at $29,000 after purchasing an additional 195 shares in the last quarter. Northwest Investment Counselors LLC acquired a new position in Rio Tinto Group during the 3rd quarter worth approximately $38,000. Finally, Golden State Wealth Management LLC acquired a new stake in shares of Rio Tinto Group in the 4th quarter valued at approximately $47,000. 19.33% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. StockNews.com upgraded Rio Tinto Group from a “buy” rating to a “strong-buy” rating in a research report on Friday. Jefferies Financial Group cut their price target on shares of Rio Tinto Group from $83.00 to $73.00 and set a “buy” rating for the company in a report on Monday, January 6th. Four research analysts have rated the stock with a hold rating, three have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Rio Tinto Group presently has an average rating of “Moderate Buy” and a consensus target price of $73.00.

Rio Tinto Group Stock Performance

NYSE:RIO opened at $63.38 on Friday. Rio Tinto Group has a 52-week low of $57.85 and a 52-week high of $74.24. The company has a quick ratio of 1.16, a current ratio of 1.70 and a debt-to-equity ratio of 0.23. The stock has a fifty day simple moving average of $60.63 and a 200-day simple moving average of $62.95.

Rio Tinto Group Company 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.