Courier Capital LLC lessened its holdings in Rio Tinto Group (NYSE:RIO – Free Report) by 79.6% in the fourth quarter, HoldingsChannel.com reports. The firm owned 6,344 shares of the mining company’s stock after selling 24,707 shares during the period. Courier Capital LLC’s holdings in Rio Tinto Group were worth $472,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds have also recently added to or reduced their stakes in RIO. Cowa LLC acquired a new position in Rio Tinto Group in the first quarter worth $26,000. Householder Group Estate & Retirement Specialist LLC acquired a new position in shares of Rio Tinto Group during the third quarter valued at $27,000. First Manhattan Co. boosted its holdings in shares of Rio Tinto Group by 555.4% during the fourth quarter. First Manhattan Co. now owns 426 shares of the mining company’s stock valued at $30,000 after acquiring an additional 361 shares during the period. SouthState Corp acquired a new position in shares of Rio Tinto Group during the third quarter valued at $32,000. Finally, Financial Management Professionals Inc. boosted its holdings in shares of Rio Tinto Group by 250.6% during the fourth quarter. Financial Management Professionals Inc. now owns 617 shares of the mining company’s stock valued at $46,000 after acquiring an additional 441 shares during the period. Institutional investors and hedge funds own 19.33% of the company’s stock.
Rio Tinto Group Stock Performance
RIO stock opened at $63.46 on Thursday. The company has a 50-day simple moving average of $66.19 and a 200 day simple moving average of $66.91. Rio Tinto Group has a fifty-two week low of $58.27 and a fifty-two week high of $75.09. The company has a quick ratio of 1.17, a current ratio of 1.69 and a debt-to-equity ratio of 0.23.
Rio Tinto Group Increases Dividend
Wall Street Analyst Weigh In
RIO has been the subject of several analyst reports. StockNews.com raised shares of Rio Tinto Group from a “buy” rating to a “strong-buy” rating in a report on Wednesday. The Goldman Sachs Group began coverage on shares of Rio Tinto Group in a report on Friday, January 12th. They set a “buy” rating for the company. BNP Paribas raised shares of Rio Tinto Group from a “neutral” rating to an “outperform” rating in a report on Tuesday, December 5th. Finally, Liberum Capital reaffirmed a “hold” rating on shares of Rio Tinto Group in a report on Tuesday, March 5th. Two equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $72.00.
View Our Latest Stock Report on Rio Tinto Group
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.
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