Callan Capital LLC Sells 408 Shares of Rio Tinto Group (NYSE:RIO)

Callan Capital LLC trimmed its stake in shares of Rio Tinto Group (NYSE:RIO) by 8.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,693 shares of the mining company’s stock after selling 408 shares during the quarter. Callan Capital LLC’s holdings in Rio Tinto Group were worth $276,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in RIO. Palliser Capital UK Ltd boosted its position in Rio Tinto Group by 213.8% during the fourth 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 during the period. Fisher Asset Management LLC boosted its position in shares of 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 acquiring an additional 485,731 shares during the period. SPX Gestao de Recursos Ltda boosted its position in shares of Rio Tinto Group by 1,773.2% in the third quarter. SPX Gestao de Recursos Ltda now owns 426,922 shares of the mining company’s stock valued at $30,384,000 after acquiring an additional 404,131 shares during the period. FMR LLC boosted its position in shares of Rio Tinto Group by 35.1% in the third quarter. FMR LLC now owns 1,381,766 shares of the mining company’s stock valued at $98,340,000 after acquiring an additional 358,630 shares during the period. Finally, ABC Arbitrage SA bought a new stake in shares of Rio Tinto Group in the fourth quarter valued at about $20,026,000. 19.33% of the stock is owned by institutional investors.

Rio Tinto Group Stock Down 1.3 %

Shares of NYSE RIO opened at $63.43 on Friday. The company has a current ratio of 1.63, a quick ratio of 1.16 and a debt-to-equity ratio of 0.23. The company has a market cap of $79.47 billion, a price-to-earnings ratio of 9.83, a PEG ratio of 0.42 and a beta of 0.65. Rio Tinto Group has a 12 month low of $57.85 and a 12 month high of $74.24. The stock has a 50-day moving average price of $60.61 and a two-hundred day moving average price of $62.94.

Wall Street Analysts Forecast Growth

RIO has been the subject of a number of recent research reports. Jefferies Financial Group reduced their target price on shares of Rio Tinto Group from $83.00 to $73.00 and set a “buy” rating for the company in a research report on Monday, January 6th. StockNews.com downgraded Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a research note on Saturday. Four investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $73.00.

Rio Tinto Group 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.