Rio Tinto Group (NYSE:RIO) Shares Sold by Burney Co.

Burney Co. trimmed its stake in Rio Tinto Group (NYSE:RIO) by 15.6% in the fourth quarter, HoldingsChannel.com reports. The fund owned 18,425 shares of the mining company’s stock after selling 3,416 shares during the quarter. Burney Co.’s holdings in Rio Tinto Group were worth $1,084,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the stock. Thurston Springer Miller Herd & Titak Inc. lifted its holdings in Rio Tinto Group by 63.9% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 500 shares of the mining company’s stock valued at $29,000 after purchasing an additional 195 shares in the last quarter. Park Avenue Securities LLC raised its position in shares of Rio Tinto Group by 23.6% in the fourth quarter. Park Avenue Securities LLC now owns 14,387 shares of the mining company’s stock valued at $846,000 after buying an additional 2,746 shares during the last quarter. Kathmere Capital Management LLC lifted its stake in shares of Rio Tinto Group by 18.6% during the fourth quarter. Kathmere Capital Management LLC now owns 3,544 shares of the mining company’s stock valued at $208,000 after buying an additional 556 shares during the period. San Luis Wealth Advisors LLC boosted its position in Rio Tinto Group by 19.1% during the fourth quarter. San Luis Wealth Advisors LLC now owns 12,602 shares of the mining company’s stock worth $741,000 after acquiring an additional 2,023 shares during the last quarter. Finally, Fifth Third Wealth Advisors LLC boosted its position in Rio Tinto Group by 70.6% during the fourth quarter. Fifth Third Wealth Advisors LLC now owns 4,943 shares of the mining company’s stock worth $291,000 after acquiring an additional 2,046 shares during the last quarter. Institutional investors and hedge funds own 19.33% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on RIO shares. StockNews.com lowered Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, November 12th. Jefferies Financial Group reduced their target price on Rio Tinto Group from $83.00 to $73.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. Macquarie restated a “neutral” rating on shares of Rio Tinto Group in a report on Wednesday, October 16th. Finally, Berenberg Bank upgraded shares of Rio Tinto Group from a “hold” rating to a “buy” rating in a report on Wednesday, October 2nd. Four equities research 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. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $73.00.

Rio Tinto Group Stock Performance

Shares of Rio Tinto Group stock opened at $59.68 on Friday. The business’s fifty day moving average price is $61.20 and its 200 day moving average price is $63.64. Rio Tinto Group has a twelve month low of $57.85 and a twelve month high of $74.24. The company has a current ratio of 1.70, a quick ratio of 1.16 and a debt-to-equity ratio of 0.23.

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.