Rio Tinto Group (NYSE:RIO) Stake Lessened by Pathstone Holdings LLC

Pathstone Holdings LLC lessened its holdings in Rio Tinto Group (NYSE:RIO) by 8.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 33,184 shares of the mining company’s stock after selling 3,107 shares during the period. Pathstone Holdings LLC’s holdings in Rio Tinto Group were worth $2,362,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of RIO. Mount Yale Investment Advisors LLC purchased a new position in Rio Tinto Group during the 1st quarter valued at about $479,000. Waverly Advisors LLC purchased a new position in Rio Tinto Group during the first quarter valued at approximately $1,646,000. Bayesian Capital Management LP acquired a new position in Rio Tinto Group in the 1st quarter valued at approximately $613,000. Dynasty Wealth Management LLC purchased a new stake in Rio Tinto Group in the 1st quarter worth approximately $552,000. Finally, B. Riley Wealth Advisors Inc. boosted its stake in shares of Rio Tinto Group by 9.0% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 28,257 shares of the mining company’s stock valued at $1,798,000 after buying an additional 2,337 shares during the period. Hedge funds and other institutional investors own 19.33% of the company’s stock.

Rio Tinto Group Price Performance

Rio Tinto Group stock opened at $62.97 on Tuesday. Rio Tinto Group has a one year low of $59.35 and a one year high of $75.09. The company’s fifty day moving average price is $65.57 and its two-hundred day moving average price is $65.74. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.70 and a quick ratio of 1.16.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the stock. Macquarie reaffirmed a “neutral” rating on shares of Rio Tinto Group in a research note on Wednesday, October 16th. StockNews.com lowered Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, November 12th. Berenberg Bank upgraded Rio Tinto Group from a “hold” rating to a “buy” rating in a report on Wednesday, October 2nd. Finally, Royal Bank of Canada upgraded Rio Tinto Group to a “hold” rating in a report on Wednesday, July 31st. Four research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy”.

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.