BayBridge Capital Group LLC Sells 998 Shares of Rio Tinto Group (NYSE:RIO)

BayBridge Capital Group LLC cut its position in Rio Tinto Group (NYSE:RIO) by 13.9% in the 4th quarter, Holdings Channel.com reports. The firm owned 6,203 shares of the mining company’s stock after selling 998 shares during the period. BayBridge Capital Group LLC’s holdings in Rio Tinto Group were worth $365,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in RIO. Palliser Capital UK Ltd increased its stake in shares of Rio Tinto Group by 213.8% in the fourth quarter. Palliser Capital UK Ltd now owns 989,417 shares of the mining company’s stock valued at $58,188,000 after buying an additional 674,117 shares during the period. Fisher Asset Management LLC grew its holdings in Rio Tinto Group by 2.9% during the 3rd quarter. Fisher Asset Management LLC now owns 17,528,095 shares of the mining company’s stock worth $1,247,475,000 after acquiring an additional 485,731 shares during the last quarter. Mediolanum International Funds Ltd acquired a new position in Rio Tinto Group in the 3rd quarter valued at approximately $33,590,000. SPX Gestao de Recursos Ltda raised its stake in shares of Rio Tinto Group by 1,773.2% during the third quarter. SPX Gestao de Recursos Ltda now owns 426,922 shares of the mining company’s stock valued at $30,384,000 after acquiring an additional 404,131 shares during the last quarter. Finally, FMR LLC lifted its holdings in shares of Rio Tinto Group by 35.1% during the third quarter. FMR LLC now owns 1,381,766 shares of the mining company’s stock worth $98,340,000 after purchasing an additional 358,630 shares during the period. 19.33% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts recently weighed in on the company. Macquarie restated a “neutral” rating on shares of Rio Tinto Group in a report on Wednesday, October 16th. Jefferies Financial Group decreased their price target 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. Finally, StockNews.com cut Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a report on Saturday, January 25th. Four analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $73.00.

Rio Tinto Group Stock Down 0.4 %

RIO stock opened at $61.96 on Friday. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.70 and a quick ratio of 1.16. The stock has a 50-day moving average price of $60.73 and a 200-day moving average price of $63.02. Rio Tinto Group has a 1-year low of $57.85 and a 1-year high of $74.24.

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.