Legacy Bridge LLC Sells 200 Shares of Rio Tinto Group (NYSE:RIO)

Legacy Bridge LLC decreased its position in Rio Tinto Group (NYSE:RIO) by 1.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 10,830 shares of the mining company’s stock after selling 200 shares during the quarter. Legacy Bridge LLC’s holdings in Rio Tinto Group were worth $637,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Winch Advisory Services LLC bought a new position in Rio Tinto Group during the 3rd quarter valued at approximately $26,000. FSC Wealth Advisors LLC bought a new position in Rio Tinto Group during the 3rd quarter valued at about $28,000. Thurston Springer Miller Herd & Titak Inc. lifted its position in Rio Tinto Group by 63.9% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 500 shares of the mining company’s stock valued at $29,000 after purchasing an additional 195 shares during the period. Sound Income Strategies LLC boosted its stake in shares of Rio Tinto Group by 70.9% in the 3rd quarter. Sound Income Strategies LLC now owns 417 shares of the mining company’s stock worth $30,000 after buying an additional 173 shares during the last quarter. Finally, Northwest Investment Counselors LLC bought a new stake in shares of Rio Tinto Group during the 3rd quarter valued at about $38,000. Hedge funds and other institutional investors own 19.33% of the company’s stock.

Rio Tinto Group Price Performance

NYSE RIO opened at $61.97 on Tuesday. Rio Tinto Group has a 12 month low of $57.85 and a 12 month high of $74.24. 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’s 50 day moving average is $61.02 and its 200 day moving average is $63.32.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on RIO. Jefferies Financial Group cut their price objective on shares of Rio Tinto Group from $83.00 to $73.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Macquarie reaffirmed a “neutral” rating on shares of Rio Tinto Group in a research report on Wednesday, October 16th. Berenberg Bank raised shares of Rio Tinto Group from a “hold” rating to a “buy” rating in a report on Wednesday, October 2nd. Finally, StockNews.com downgraded shares of Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a report on Saturday. Four research analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $73.00.

Rio Tinto Group 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.