Rio Tinto Group (NYSE:RIO) Shares Sold by MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH

MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH reduced its stake in Rio Tinto Group (NYSE:RIO) by 22.6% in the 4th quarter, Holdings Channel reports. The institutional investor owned 721,694 shares of the mining company’s stock after selling 210,457 shares during the period. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH’s holdings in Rio Tinto Group were worth $42,284,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the stock. Fisher Asset Management LLC grew its holdings in shares of Rio Tinto Group by 2.9% in the third quarter. Fisher Asset Management LLC now owns 17,528,095 shares of the mining company’s stock valued at $1,247,475,000 after purchasing an additional 485,731 shares during the period. FMR LLC grew its stake in shares of Rio Tinto Group by 35.1% in the 3rd quarter. FMR LLC now owns 1,381,766 shares of the mining company’s stock valued at $98,340,000 after buying an additional 358,630 shares during the period. Palliser Capital UK Ltd increased its holdings in shares of Rio Tinto Group by 213.8% during the 4th quarter. Palliser Capital UK Ltd now owns 989,417 shares of the mining company’s stock worth $58,188,000 after buying an additional 674,117 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Rio Tinto Group by 78.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 858,050 shares of the mining company’s stock worth $56,565,000 after buying an additional 376,778 shares during the last quarter. Finally, Van ECK Associates Corp raised its position in shares of Rio Tinto Group by 10.7% during the 3rd quarter. Van ECK Associates Corp now owns 693,102 shares of the mining company’s stock valued at $49,328,000 after buying an additional 67,213 shares during the period. Hedge funds and other institutional investors own 19.33% of the company’s stock.

Wall Street Analyst Weigh In

RIO has been the subject of several recent analyst reports. Jefferies Financial Group cut 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 reissued a “neutral” rating on shares of Rio Tinto Group in a research report on Wednesday, October 16th. Berenberg Bank upgraded shares of Rio Tinto Group from a “hold” rating to a “buy” rating in a report on Wednesday, October 2nd. Finally, StockNews.com raised shares of Rio Tinto Group from a “buy” rating to a “strong-buy” rating in a research note on Friday, January 17th. Four analysts have rated the stock with a hold rating, three have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, Rio Tinto Group presently has an average rating of “Moderate Buy” and a consensus price target of $73.00.

Rio Tinto Group Stock Performance

RIO stock opened at $61.56 on Friday. The business’s fifty day moving average price is $60.97 and its 200 day moving average price is $63.42. Rio Tinto Group has a 12-month low of $57.85 and a 12-month high of $74.24. The company has a current ratio of 1.70, a quick ratio of 1.16 and a debt-to-equity ratio of 0.23.

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.