Rio Tinto Group (NYSE:RIO) Shares Sold by WASHINGTON TRUST Co

WASHINGTON TRUST Co decreased its holdings in shares of Rio Tinto Group (NYSE:RIO) by 9.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,940 shares of the mining company’s stock after selling 200 shares during the quarter. WASHINGTON TRUST Co’s holdings in Rio Tinto Group were worth $114,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Fisher Asset Management LLC lifted its holdings in shares of Rio Tinto Group by 2.9% during the 3rd 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 in the last quarter. FMR LLC lifted its holdings in shares of Rio Tinto Group by 35.1% during the 3rd 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 in the last quarter. Palliser Capital UK Ltd lifted its holdings in shares of Rio Tinto Group by 213.8% during the 4th quarter. Palliser Capital UK Ltd now owns 989,417 shares of the mining company’s stock valued at $58,188,000 after acquiring an additional 674,117 shares in the last quarter. Van ECK Associates Corp lifted its holdings in shares of 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 valued at $49,328,000 after acquiring an additional 67,213 shares in the last quarter. Finally, Mediolanum International Funds Ltd acquired a new position in Rio Tinto Group in the 3rd quarter worth $33,590,000. Institutional investors and hedge funds own 19.33% of the company’s stock.

Wall Street Analyst Weigh In

RIO has been the topic of a number of recent analyst reports. Jefferies Financial Group cut their price objective on shares of Rio Tinto Group from $83.00 to $73.00 and set a “buy” rating on the stock in a report on Monday, January 6th. StockNews.com upgraded shares of Rio Tinto Group from a “buy” rating to a “strong-buy” rating in a report on Friday. Four analysts have rated the stock with a hold rating, three have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $73.00.

Rio Tinto Group Stock Performance

RIO opened at $63.38 on Friday. The company has a 50-day moving average of $60.65 and a 200-day moving average of $62.94. Rio Tinto Group has a 1-year low of $57.85 and a 1-year high of $74.24. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.70 and a quick ratio of 1.16.

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.