US Bancorp DE Decreases Stake in Rio Tinto Group (NYSE:RIO)

US Bancorp DE lowered its position in Rio Tinto Group (NYSE:RIO) by 20.3% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 104,576 shares of the mining company’s stock after selling 26,645 shares during the period. US Bancorp DE’s holdings in Rio Tinto Group were worth $6,666,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in RIO. Northwest Investment Counselors LLC purchased a new position in Rio Tinto Group in the 1st quarter valued at $26,000. Geneos Wealth Management Inc. raised its holdings in shares of Rio Tinto Group by 55.4% during the 1st quarter. Geneos Wealth Management Inc. now owns 415 shares of the mining company’s stock worth $26,000 after acquiring an additional 148 shares during the period. AdvisorNet Financial Inc raised its holdings in shares of Rio Tinto Group by 785.7% during the 4th quarter. AdvisorNet Financial Inc now owns 372 shares of the mining company’s stock worth $28,000 after acquiring an additional 330 shares during the period. YHB Investment Advisors Inc. acquired a new stake in shares of Rio Tinto Group during the 1st quarter worth about $29,000. Finally, Accordant Advisory Group Inc acquired a new stake in shares of Rio Tinto Group during the 1st quarter worth about $31,000. Hedge funds and other institutional investors own 19.33% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on RIO. Citigroup downgraded Rio Tinto Group from a “buy” rating to a “neutral” rating in a research report on Monday, May 20th. Berenberg Bank downgraded Rio Tinto Group from a “buy” rating to a “hold” rating in a research report on Thursday, June 27th. Finally, StockNews.com raised Rio Tinto Group from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, May 21st. Four investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy”.

Rio Tinto Group Price Performance

NYSE RIO traded down $0.43 during trading on Wednesday, hitting $65.89. The stock had a trading volume of 2,253,969 shares, compared to its average volume of 2,680,664. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.17 and a current ratio of 1.69. The firm has a 50 day moving average price of $68.58 and a 200 day moving average price of $67.57. Rio Tinto Group has a twelve month low of $58.27 and a twelve month high of $75.09.

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.