Rio Tinto Group (NYSE:RIO) Shares Sold by Marks Group Wealth Management Inc

Marks Group Wealth Management Inc lessened its stake in shares of Rio Tinto Group (NYSE:RIO) by 42.8% in the fourth quarter, Holdings Channel.com reports. The fund owned 4,056 shares of the mining company’s stock after selling 3,032 shares during the quarter. Marks Group Wealth Management Inc’s holdings in Rio Tinto Group were worth $239,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of RIO. Fisher Asset Management LLC raised its position in shares of Rio Tinto Group by 2.9% during the third quarter. Fisher Asset Management LLC now owns 17,528,095 shares of the mining company’s stock worth $1,247,475,000 after purchasing an additional 485,731 shares during the period. FMR LLC boosted its position in shares of Rio Tinto Group by 35.1% in the 3rd quarter. FMR LLC now owns 1,381,766 shares of the mining company’s stock valued at $98,340,000 after purchasing an additional 358,630 shares during the period. Palliser Capital UK Ltd increased its stake in Rio Tinto Group by 213.8% in the 4th quarter. Palliser Capital UK Ltd now owns 989,417 shares of the mining company’s stock worth $58,188,000 after purchasing an additional 674,117 shares in the last quarter. Van ECK Associates Corp raised its holdings in Rio Tinto Group by 10.7% during the 3rd quarter. Van ECK Associates Corp now owns 693,102 shares of the mining company’s stock worth $49,328,000 after buying an additional 67,213 shares during the period. Finally, Mediolanum International Funds Ltd purchased a new stake in Rio Tinto Group during the third quarter valued at about $33,590,000. 19.33% of the stock is owned by institutional investors.

Rio Tinto Group Price Performance

RIO stock opened at $62.02 on Thursday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.16 and a current ratio of 1.70. The firm has a 50 day simple moving average of $60.66 and a 200 day simple moving average of $62.96. Rio Tinto Group has a 52 week low of $57.85 and a 52 week high of $74.24.

Wall Street Analyst Weigh In

RIO has been the topic of several analyst reports. Jefferies Financial Group dropped their target price on shares of Rio Tinto Group from $83.00 to $73.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. Macquarie reiterated a “neutral” rating on shares of Rio Tinto Group in a research report on Wednesday, October 16th. Finally, StockNews.com lowered Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a report on Saturday, January 25th. Four investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $73.00.

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.