Fulton Bank N.A. Sells 3,420 Shares of Rio Tinto Group (NYSE:RIO)

Fulton Bank N.A. lowered its holdings in shares of Rio Tinto Group (NYSE:RIO) by 48.8% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 3,588 shares of the mining company’s stock after selling 3,420 shares during the period. Fulton Bank N.A.’s holdings in Rio Tinto Group were worth $211,000 as of its most recent filing with the SEC.

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

Rio Tinto Group Stock Performance

Shares of RIO opened at $58.91 on Friday. The business has a 50-day simple moving average of $61.51 and a two-hundred day simple moving average of $63.77. The company has a quick ratio of 1.16, a current ratio of 1.70 and a debt-to-equity ratio of 0.23. Rio Tinto Group has a 52 week low of $57.85 and a 52 week high of $74.24. The stock has a market cap of $73.81 billion, a price-to-earnings ratio of 8.55, a PEG ratio of 0.38 and a beta of 0.66.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on RIO shares. Jefferies Financial Group lowered their price target on shares of Rio Tinto Group from $83.00 to $73.00 and set a “buy” rating for the company in a report on Monday, January 6th. Macquarie reiterated a “neutral” rating on shares of Rio Tinto Group in a report on Wednesday, October 16th. StockNews.com downgraded Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a report on Tuesday, November 12th. Finally, Berenberg Bank upgraded Rio Tinto Group from a “hold” rating to a “buy” rating in a research report on Wednesday, October 2nd. Four analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Rio Tinto Group has a consensus rating of “Moderate Buy” and an average price target of $73.00.

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.