Rio Tinto Group (NYSE:RIO) Stock Position Decreased by Grove Bank & Trust

Grove Bank & Trust lessened its holdings in shares of Rio Tinto Group (NYSE:RIO) by 16.6% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 956 shares of the mining company’s stock after selling 190 shares during the period. Grove Bank & Trust’s holdings in Rio Tinto Group were worth $56,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of RIO. Winch Advisory Services LLC bought a new position in Rio Tinto Group in the 3rd quarter worth about $26,000. FSC Wealth Advisors LLC bought a new position in Rio Tinto Group in the 3rd quarter worth about $28,000. Thurston Springer Miller Herd & Titak Inc. grew its position 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 worth $29,000 after purchasing an additional 195 shares during the last quarter. Sound Income Strategies LLC grew its position in Rio Tinto Group by 70.9% in the 3rd quarter. Sound Income Strategies LLC now owns 417 shares of the mining company’s stock worth $30,000 after purchasing an additional 173 shares during the last quarter. Finally, Northwest Investment Counselors LLC bought a new position in Rio Tinto Group in the 3rd quarter worth about $38,000. Institutional investors own 19.33% of the company’s stock.

Analysts Set New Price Targets

RIO has been the subject of several recent analyst reports. Jefferies Financial Group decreased their target price on shares of Rio Tinto Group from $83.00 to $73.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Berenberg Bank raised shares of Rio Tinto Group from a “hold” rating to a “buy” rating in a research note on Wednesday, October 2nd. Macquarie reaffirmed a “neutral” rating on shares of Rio Tinto Group in a research note on Wednesday, October 16th. Finally, StockNews.com raised shares of Rio Tinto Group from a “buy” rating to a “strong-buy” rating in a research note on Friday. Four analysts have rated the stock with a hold rating, three have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Rio Tinto Group currently has an average rating of “Moderate Buy” and an average target price of $73.00.

Rio Tinto Group Stock Up 2.0 %

RIO stock opened at $61.00 on Tuesday. Rio Tinto Group has a 12 month low of $57.85 and a 12 month high of $74.24. The firm has a 50 day simple moving average of $60.98 and a 200 day simple moving average of $63.53. 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.