Van ECK Associates Corp Cuts Holdings in Rio Tinto Group (NYSE:RIO)

Van ECK Associates Corp cut its position in Rio Tinto Group (NYSE:RIO) by 5.2% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 656,870 shares of the mining company’s stock after selling 36,232 shares during the quarter. Van ECK Associates Corp owned approximately 0.05% of Rio Tinto Group worth $38,631,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the company. Creative Planning raised its stake in Rio Tinto Group by 4.4% in the third quarter. Creative Planning now owns 80,160 shares of the mining company’s stock valued at $5,705,000 after buying an additional 3,413 shares during the last quarter. NBC Securities Inc. boosted its holdings in shares of Rio Tinto Group by 24.2% in the 3rd quarter. NBC Securities Inc. now owns 1,207 shares of the mining company’s stock valued at $85,000 after acquiring an additional 235 shares during the last quarter. Foster Victor Wealth Advisors LLC boosted its holdings in Rio Tinto Group by 6.7% in the third quarter. Foster Victor Wealth Advisors LLC now owns 3,755 shares of the mining company’s stock valued at $249,000 after purchasing an additional 237 shares during the last quarter. SeaCrest Wealth Management LLC grew its holdings in Rio Tinto Group by 2.5% during the third quarter. SeaCrest Wealth Management LLC now owns 10,041 shares of the mining company’s stock worth $715,000 after acquiring an additional 248 shares during the period. Finally, Vontobel Holding Ltd. grew its stake in shares of Rio Tinto Group by 64.0% during the 3rd quarter. Vontobel Holding Ltd. now owns 8,910 shares of the mining company’s stock worth $634,000 after purchasing an additional 3,476 shares during the period. Institutional investors own 19.33% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on RIO shares. Jefferies Financial Group cut their price target on Rio Tinto Group from $83.00 to $73.00 and set a “buy” rating for the company in a research note on Monday, January 6th. StockNews.com cut shares of Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a research note on Saturday, January 25th. Four analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Rio Tinto Group currently has a consensus rating of “Moderate Buy” and a consensus price target of $73.00.

Rio Tinto Group Trading Up 2.1 %

NYSE:RIO opened at $63.35 on Friday. Rio Tinto Group has a 52 week low of $57.85 and a 52 week high of $74.24. The stock’s fifty day moving average is $60.63 and its two-hundred day moving average is $62.95. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.16 and a current ratio of 1.70.

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.