Violich Capital Management Inc. Trims Stock Holdings in Rio Tinto Group (NYSE:RIO)

Violich Capital Management Inc. lowered its holdings in Rio Tinto Group (NYSE:RIO) by 56.5% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 19,430 shares of the mining company’s stock after selling 25,250 shares during the period. Violich Capital Management Inc.’s holdings in Rio Tinto Group were worth $1,143,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Winch Advisory Services LLC purchased a new position in Rio Tinto Group in the third quarter valued at about $26,000. FSC Wealth Advisors LLC acquired a new stake in Rio Tinto Group during the third quarter valued at approximately $28,000. Thurston Springer Miller Herd & Titak Inc. raised its stake in Rio Tinto Group by 63.9% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 500 shares of the mining company’s stock valued at $29,000 after buying an additional 195 shares in the last quarter. Sound Income Strategies LLC raised its stake in Rio Tinto Group by 70.9% during the third quarter. Sound Income Strategies LLC now owns 417 shares of the mining company’s stock valued at $30,000 after buying an additional 173 shares in the last quarter. Finally, Northwest Investment Counselors LLC acquired a new stake in Rio Tinto Group during the third quarter valued at approximately $38,000. Hedge funds and other institutional investors own 19.33% of the company’s stock.

Rio Tinto Group Price Performance

RIO opened at $62.23 on Tuesday. Rio Tinto Group has a 12 month low of $57.85 and a 12 month high of $74.24. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.16 and a current ratio of 1.70. The stock’s 50 day moving average price is $60.72 and its 200 day moving average price is $62.99.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Macquarie restated a “neutral” rating on shares of Rio Tinto Group in a research note on Wednesday, October 16th. Jefferies Financial Group dropped their price target 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. Finally, StockNews.com cut Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a research report on Saturday, January 25th. Four research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Rio Tinto Group presently has an average rating of “Moderate Buy” and a consensus target price of $73.00.

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.