GoalVest Advisory LLC Trims Stock Holdings in Rio Tinto Group (NYSE:RIO)

GoalVest Advisory LLC lowered its stake in shares of Rio Tinto Group (NYSE:RIO) by 3.1% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 7,817 shares of the mining company’s stock after selling 250 shares during the period. GoalVest Advisory LLC’s holdings in Rio Tinto Group were worth $556,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the stock. Russell Investments Group Ltd. grew its position in shares of Rio Tinto Group by 0.4% during the 1st quarter. Russell Investments Group Ltd. now owns 39,964 shares of the mining company’s stock valued at $2,547,000 after acquiring an additional 147 shares during the period. Kingsview Wealth Management LLC grew its position in shares of Rio Tinto Group by 6.8% during the 1st quarter. Kingsview Wealth Management LLC now owns 4,570 shares of the mining company’s stock valued at $291,000 after acquiring an additional 289 shares during the period. Resurgent Financial Advisors LLC grew its position in shares of Rio Tinto Group by 136.1% during the 1st quarter. Resurgent Financial Advisors LLC now owns 3,851 shares of the mining company’s stock valued at $245,000 after acquiring an additional 2,220 shares during the period. Bessemer Group Inc. grew its position in shares of Rio Tinto Group by 2.4% during the 1st quarter. Bessemer Group Inc. now owns 7,304 shares of the mining company’s stock valued at $465,000 after acquiring an additional 169 shares during the period. Finally, Lake Street Advisors Group LLC grew its position in shares of Rio Tinto Group by 30.6% during the 1st quarter. Lake Street Advisors Group LLC now owns 4,716 shares of the mining company’s stock valued at $316,000 after acquiring an additional 1,106 shares during the period. Hedge funds and other institutional investors own 19.33% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. Macquarie restated a “neutral” rating on shares of Rio Tinto Group in a research report on Wednesday, October 16th. Hsbc Global Res upgraded Rio Tinto Group to a “strong-buy” rating in a report on Tuesday, July 23rd. StockNews.com cut Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a report on Tuesday, November 12th. HSBC upgraded Rio Tinto Group from a “hold” rating to a “buy” rating in a report on Tuesday, July 23rd. Finally, Royal Bank of Canada upgraded Rio Tinto Group to a “hold” rating in a report on Wednesday, July 31st. Four 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. According to MarketBeat.com, Rio Tinto Group presently has a consensus rating of “Moderate Buy”.

Rio Tinto Group Stock Up 0.9 %

Shares of Rio Tinto Group stock opened at $60.98 on Friday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.16 and a current ratio of 1.70. The stock’s 50 day simple moving average is $65.44 and its 200-day simple moving average is $66.04. Rio Tinto Group has a 1-year low of $59.35 and a 1-year high of $75.09.

About Rio Tinto Group

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.