Rio Tinto Group (NYSE:RIO) Shares Sold by DRW Securities LLC

DRW Securities LLC trimmed its holdings in Rio Tinto Group (NYSE:RIO) by 29.3% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 10,783 shares of the mining company’s stock after selling 4,471 shares during the period. DRW Securities LLC’s holdings in Rio Tinto Group were worth $767,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of RIO. GHP Investment Advisors Inc. acquired a new stake in shares of Rio Tinto Group in the second quarter valued at about $26,000. Winch Advisory Services LLC purchased a new stake in shares of Rio Tinto Group in the third quarter valued at about $26,000. FSC Wealth Advisors LLC purchased a new stake in shares of Rio Tinto Group in the third quarter valued at about $28,000. Sound Income Strategies LLC grew its holdings in shares of Rio Tinto Group by 70.9% in the third quarter. Sound Income Strategies LLC now owns 417 shares of the mining company’s stock valued at $30,000 after purchasing an additional 173 shares during the period. Finally, Centerpoint Advisors LLC grew its holdings in shares of Rio Tinto Group by 110.0% in the second quarter. Centerpoint Advisors LLC now owns 525 shares of the mining company’s stock valued at $35,000 after purchasing an additional 275 shares during the period. 19.33% of the stock is currently owned by institutional investors and hedge funds.

Rio Tinto Group Stock Performance

Shares of Rio Tinto Group stock opened at $62.97 on Tuesday. Rio Tinto Group has a 52-week low of $59.35 and a 52-week high of $75.09. The company has a 50 day moving average of $65.57 and a 200 day moving average of $65.74. The company has a current ratio of 1.70, a quick ratio of 1.16 and a debt-to-equity ratio of 0.23.

Analysts Set New Price Targets

RIO has been the subject of a number of analyst reports. Macquarie reissued a “neutral” rating on shares of Rio Tinto Group in a report on Wednesday, October 16th. Royal Bank of Canada raised shares of Rio Tinto Group to a “hold” rating in a research note on Wednesday, July 31st. StockNews.com cut shares of Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, November 12th. Finally, Berenberg Bank raised shares of Rio Tinto Group from a “hold” rating to a “buy” rating in a research report on Wednesday, October 2nd. Four research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy”.

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.