Rio Tinto Group (NYSE:RIO) Shares Sold by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC lessened its holdings in Rio Tinto Group (NYSE:RIO) by 11.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 44,646 shares of the mining company’s stock after selling 5,967 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Rio Tinto Group were worth $2,846,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of the business. Wellington Management Group LLP lifted its position in Rio Tinto Group by 41.0% in the third quarter. Wellington Management Group LLP now owns 23,193,773 shares of the mining company’s stock valued at $1,476,052,000 after buying an additional 6,748,799 shares during the last quarter. SPX Gestao de Recursos Ltda lifted its holdings in shares of Rio Tinto Group by 560.8% in the 4th quarter. SPX Gestao de Recursos Ltda now owns 791,933 shares of the mining company’s stock worth $58,967,000 after acquiring an additional 672,095 shares during the last quarter. Fisher Asset Management LLC boosted its position in shares of Rio Tinto Group by 3.1% during the 4th quarter. Fisher Asset Management LLC now owns 16,045,541 shares of the mining company’s stock worth $1,194,751,000 after purchasing an additional 475,329 shares during the period. Van ECK Associates Corp increased its holdings in Rio Tinto Group by 191.3% in the 4th quarter. Van ECK Associates Corp now owns 715,829 shares of the mining company’s stock valued at $53,301,000 after purchasing an additional 470,073 shares during the last quarter. Finally, MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH raised its position in Rio Tinto Group by 19.9% in the fourth quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 797,985 shares of the mining company’s stock valued at $59,418,000 after purchasing an additional 132,590 shares during the period. 19.33% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have recently weighed in on RIO. Berenberg Bank cut Rio Tinto Group from a “buy” rating to a “hold” rating in a research note on Thursday, June 27th. StockNews.com raised Rio Tinto Group from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, May 21st. Finally, Citigroup lowered shares of Rio Tinto Group from a “buy” rating to a “neutral” rating in a research note on Monday, May 20th. Four analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Rio Tinto Group currently has an average rating of “Moderate Buy”.

Rio Tinto Group Trading Up 2.9 %

Shares of NYSE RIO opened at $67.90 on Thursday. The stock’s 50-day moving average is $68.78 and its two-hundred day moving average is $68.02. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.17 and a current ratio of 1.69. Rio Tinto Group has a 1-year low of $58.27 and a 1-year high of $75.09.

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.