CIBC World Markets Inc. Sells 34,385 Shares of Rio Tinto Group (NYSE:RIO)

CIBC World Markets Inc. lowered its holdings in shares of Rio Tinto Group (NYSE:RIO) by 55.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 27,280 shares of the mining company’s stock after selling 34,385 shares during the period. CIBC World Markets Inc.’s holdings in Rio Tinto Group were worth $2,118,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of the stock. Vestmark Advisory Solutions Inc. boosted its stake in Rio Tinto Group by 0.9% during the first quarter. Vestmark Advisory Solutions Inc. now owns 11,795 shares of the mining company’s stock worth $916,000 after acquiring an additional 108 shares in the last quarter. Sage Rhino Capital LLC lifted its stake in shares of Rio Tinto Group by 4.8% in the first quarter. Sage Rhino Capital LLC now owns 3,125 shares of the mining company’s stock worth $243,000 after buying an additional 142 shares in the last quarter. Glassman Wealth Services lifted its stake in shares of Rio Tinto Group by 61.8% in the fourth quarter. Glassman Wealth Services now owns 419 shares of the mining company’s stock worth $32,000 after buying an additional 160 shares in the last quarter. Banco Santander S.A. lifted its stake in shares of Rio Tinto Group by 3.4% in the first quarter. Banco Santander S.A. now owns 4,920 shares of the mining company’s stock worth $382,000 after buying an additional 160 shares in the last quarter. Finally, OneAscent Wealth Management LLC lifted its stake in shares of Rio Tinto Group by 4.2% in the first quarter. OneAscent Wealth Management LLC now owns 3,979 shares of the mining company’s stock worth $309,000 after buying an additional 161 shares in the last quarter. 8.04% of the stock is currently owned by institutional investors and hedge funds.

RIO has been the topic of several analyst reports. Berenberg Bank reiterated a “hold” rating on shares of Rio Tinto Group in a research note on Wednesday, April 7th. Societe Generale upgraded shares of Rio Tinto Group from a “hold” rating to a “buy” rating in a research note on Thursday, March 18th. Barclays reiterated an “equal weight” rating on shares of Rio Tinto Group in a research note on Wednesday, April 7th. UBS Group restated a “neutral” rating on shares of Rio Tinto Group in a research report on Thursday, February 18th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Rio Tinto Group to a “hold” rating in a research report on Wednesday, May 26th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and eight have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $91.00.

Shares of RIO stock opened at $86.90 on Friday. Rio Tinto Group has a 12 month low of $54.87 and a 12 month high of $95.97. The stock has a market capitalization of $108.45 billion, a PE ratio of 11.29 and a beta of 0.61. The company has a current ratio of 1.80, a quick ratio of 1.46 and a debt-to-equity ratio of 0.26. The firm’s 50 day simple moving average is $86.43.

Rio Tinto Group Company Profile

Rio Tinto Group engages in exploring, mining, and processing mineral resources worldwide. The company offers aluminum, copper, diamonds, gold, borates, titanium dioxide, salt, iron ore, and uranium. It also owns and operates open pit and underground mines, mills, refineries, smelters, power stations, and research and service facilities.

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Institutional Ownership by Quarter for Rio Tinto Group (NYSE:RIO)

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