Rio Tinto Group (NYSE:RIO) Shares Sold by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. trimmed its position in shares of Rio Tinto Group (NYSE:RIO) by 10.9% in the third quarter, Holdings Channel.com reports. The firm owned 62,514 shares of the mining company’s stock after selling 7,663 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Rio Tinto Group were worth $4,449,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in RIO. GHP Investment Advisors Inc. acquired a new stake in Rio Tinto Group during the 2nd quarter valued at $26,000. Winch Advisory Services LLC acquired a new position in Rio Tinto Group during the 3rd quarter worth $26,000. FSC Wealth Advisors LLC acquired a new position in Rio Tinto Group during the 3rd quarter worth $28,000. Sound Income Strategies LLC grew its holdings in Rio Tinto Group by 70.9% during the 3rd quarter. Sound Income Strategies LLC now owns 417 shares of the mining company’s stock worth $30,000 after acquiring an additional 173 shares in the last quarter. Finally, Centerpoint Advisors LLC grew its holdings in Rio Tinto Group by 110.0% during the 2nd quarter. Centerpoint Advisors LLC now owns 525 shares of the mining company’s stock worth $35,000 after acquiring an additional 275 shares in the last quarter. 19.33% of the stock is owned by institutional investors and hedge funds.

Rio Tinto Group Price Performance

NYSE RIO opened at $62.13 on Tuesday. Rio Tinto Group has a one year low of $59.35 and a one year high of $75.09. The company has a 50-day simple moving average of $65.48 and a 200-day simple moving average of $65.99. The company has a quick ratio of 1.16, a current ratio of 1.70 and a debt-to-equity ratio of 0.23.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on RIO shares. StockNews.com lowered shares of Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a report on Tuesday, November 12th. Royal Bank of Canada raised shares of Rio Tinto Group to a “hold” rating in a report on Wednesday, July 31st. Hsbc Global Res raised shares of Rio Tinto Group to a “strong-buy” rating in a report on Tuesday, July 23rd. Berenberg Bank raised shares of Rio Tinto Group from a “hold” rating to a “buy” rating in a report on Wednesday, October 2nd. Finally, Macquarie reissued a “neutral” rating on shares of Rio Tinto Group in a report on Wednesday, October 16th. Four investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy”.

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.