Rio Tinto Group (NYSE:RIO) Shares Sold by Sumitomo Mitsui Trust Holdings Inc.

Sumitomo Mitsui Trust Holdings Inc. cut its holdings in shares of Rio Tinto Group (NYSE:RIO – Get Rating) by 14.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 53,747 shares of the mining company’s stock after selling 9,290 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc.’s holdings in Rio Tinto Group were worth $2,959,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. KCS Wealth Advisory raised its stake in shares of Rio Tinto Group by 41.2% in the 3rd quarter. KCS Wealth Advisory now owns 18,080 shares of the mining company’s stock valued at $995,000 after acquiring an additional 5,276 shares during the period. MKT Advisors LLC boosted its stake in Rio Tinto Group by 19.6% during the 3rd quarter. MKT Advisors LLC now owns 4,265 shares of the mining company’s stock worth $235,000 after purchasing an additional 700 shares during the period. Stonnington Group LLC raised its position in Rio Tinto Group by 140.7% during the 3rd quarter. Stonnington Group LLC now owns 14,200 shares of the mining company’s stock worth $763,000 after buying an additional 8,300 shares during the last quarter. MCIA Inc increased its holdings in shares of Rio Tinto Group by 26.3% in the 3rd quarter. MCIA Inc now owns 22,383 shares of the mining company’s stock valued at $1,203,000 after purchasing an additional 4,662 shares in the last quarter. Finally, S.A. Mason LLC increased its holdings in shares of Rio Tinto Group by 50.0% in the 3rd quarter. S.A. Mason LLC now owns 1,500 shares of the mining company’s stock valued at $83,000 after purchasing an additional 500 shares in the last quarter. 10.43% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

RIO has been the subject of several recent research reports. UBS Group downgraded shares of Rio Tinto Group from a “neutral” rating to a “sell” rating in a report on Tuesday, December 13th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Rio Tinto Group from GBX 5,700 ($68.67) to GBX 5,800 ($69.88) in a research report on Wednesday, November 23rd. Morgan Stanley dropped their price objective on shares of Rio Tinto Group from GBX 6,040 ($72.77) to GBX 5,700 ($68.67) in a research note on Thursday, December 8th. JPMorgan Chase & Co. lowered shares of Rio Tinto Group from a “neutral” rating to an “underweight” rating in a research note on Tuesday, December 13th. Finally, Citigroup lowered shares of Rio Tinto Group from a “buy” rating to a “neutral” rating in a research note on Thursday, December 1st. Five research analysts have rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, Rio Tinto Group currently has an average rating of “Hold” and an average target price of $3,856.67.

Rio Tinto Group Trading Up 2.9 %

Shares of RIO opened at $74.07 on Friday. Rio Tinto Group has a 1 year low of $50.92 and a 1 year high of $84.69. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.79 and a quick ratio of 1.34. The firm has a fifty day moving average of $66.78 and a 200-day moving average of $60.79.

Rio Tinto Group Profile

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Rio Tinto Group engages in exploring, mining, and processing mineral resources worldwide. The company offers aluminum, copper, diamonds, gold, borates, titanium dioxide, salt, iron ore, and lithium. It also owns and operates open pit and underground mines, mills, refineries, smelters, power stations, and research and service facilities.