Ingalls & Snyder LLC Sells 1,583 Shares of Rio Tinto Group (NYSE:RIO)

Ingalls & Snyder LLC cut its stake in shares of Rio Tinto Group (NYSE:RIO) by 19.8% in the fourth quarter, Holdings Channel reports. The fund owned 6,432 shares of the mining company’s stock after selling 1,583 shares during the period. Ingalls & Snyder LLC’s holdings in Rio Tinto Group were worth $378,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the business. Naples Global Advisors LLC raised its holdings in shares of Rio Tinto Group by 3.6% in the fourth quarter. Naples Global Advisors LLC now owns 100,098 shares of the mining company’s stock valued at $5,887,000 after buying an additional 3,461 shares during the last quarter. Allspring Global Investments Holdings LLC raised its holdings in shares of Rio Tinto Group by 118.4% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 99,853 shares of the mining company’s stock valued at $5,868,000 after buying an additional 54,130 shares during the last quarter. Avidian Wealth Enterprises LLC raised its holdings in shares of Rio Tinto Group by 8.5% in the fourth quarter. Avidian Wealth Enterprises LLC now owns 6,079 shares of the mining company’s stock valued at $357,000 after buying an additional 476 shares during the last quarter. Capital Advisors Inc. OK raised its holdings in Rio Tinto Group by 26.2% during the 4th quarter. Capital Advisors Inc. OK now owns 410,037 shares of the mining company’s stock worth $24,114,000 after purchasing an additional 85,034 shares during the last quarter. Finally, Community Bank & Trust Waco Texas raised its holdings in Rio Tinto Group by 20.5% during the 4th quarter. Community Bank & Trust Waco Texas now owns 24,574 shares of the mining company’s stock worth $1,455,000 after purchasing an additional 4,188 shares during the last quarter. 19.33% of the stock is owned by institutional investors.

Analyst Ratings Changes

RIO has been the subject of several recent research reports. StockNews.com raised Rio Tinto Group from a “buy” rating to a “strong-buy” rating in a report on Friday. Jefferies Financial Group dropped their price objective 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. Four analysts have rated the stock with a hold rating, three have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $73.00.

Rio Tinto Group Stock Up 0.1 %

Rio Tinto Group stock opened at $63.38 on Friday. Rio Tinto Group has a 1 year low of $57.85 and a 1 year high of $74.24. The business has a 50-day moving average of $60.63 and a 200-day moving average of $62.95. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.16 and a current ratio of 1.70.

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.