Rio Tinto Group (NYSE:RIO) Position Reduced by Gilman Hill Asset Management LLC

Gilman Hill Asset Management LLC lowered its stake in Rio Tinto Group (NYSE:RIO) by 2.0% in the 4th quarter, Holdings Channel.com reports. The firm owned 65,287 shares of the mining company’s stock after selling 1,340 shares during the period. Gilman Hill Asset Management LLC’s holdings in Rio Tinto Group were worth $3,840,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the stock. Bank of Montreal Can increased its holdings in Rio Tinto Group by 237.0% in the second quarter. Bank of Montreal Can now owns 2,472,471 shares of the mining company’s stock valued at $164,493,000 after buying an additional 1,738,752 shares during the last quarter. Philip James Wealth Mangement LLC bought a new stake in shares of Rio Tinto Group in the 3rd quarter valued at approximately $1,345,000. Fisher Asset Management LLC lifted its stake in Rio Tinto Group by 2.9% during the third quarter. Fisher Asset Management LLC now owns 17,528,095 shares of the mining company’s stock worth $1,247,475,000 after purchasing an additional 485,731 shares during the last quarter. Barclays PLC boosted its holdings in Rio Tinto Group by 225.6% in the third quarter. Barclays PLC now owns 335,637 shares of the mining company’s stock worth $23,888,000 after purchasing an additional 232,539 shares during the period. Finally, Northwest Bancshares Inc. bought a new stake in Rio Tinto Group during the third quarter valued at $1,440,000. Institutional investors and hedge funds own 19.33% of the company’s stock.

Rio Tinto Group Stock Performance

RIO opened at $61.00 on Monday. Rio Tinto Group has a twelve month low of $57.85 and a twelve month high of $74.24. The business’s 50 day moving average is $60.98 and its 200-day moving average is $63.56. The company has a quick ratio of 1.16, a current ratio of 1.70 and a debt-to-equity ratio of 0.23.

Analyst Upgrades and Downgrades

RIO has been the topic of a number of recent research reports. StockNews.com upgraded shares of Rio Tinto Group from a “buy” rating to a “strong-buy” rating in a research report on Friday. Berenberg Bank raised shares of Rio Tinto Group from a “hold” rating to a “buy” rating in a report on Wednesday, October 2nd. Jefferies Financial Group lowered their target price on Rio Tinto Group from $83.00 to $73.00 and set a “buy” rating for the company in a report on Monday, January 6th. Finally, Macquarie reissued a “neutral” rating on shares of Rio Tinto Group in a report on Wednesday, October 16th. Four analysts have rated the stock with a hold rating, three have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $73.00.

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.