Capital World Investors Sells 3,531,000 Shares of Rio Tinto Group (NYSE:RIO)

Capital World Investors cut its position in Rio Tinto Group (NYSE:RIO) by 42.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,786,926 shares of the mining company’s stock after selling 3,531,000 shares during the quarter. Capital World Investors owned 0.38% of Rio Tinto Group worth $356,435,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of RIO. Jump Financial LLC bought a new position in Rio Tinto Group in the third quarter valued at about $417,000. New York State Common Retirement Fund raised its position in shares of Rio Tinto Group by 46.9% during the third quarter. New York State Common Retirement Fund now owns 226,938 shares of the mining company’s stock worth $14,442,000 after acquiring an additional 72,425 shares during the last quarter. Kingsview Wealth Management LLC raised its position in shares of Rio Tinto Group by 22.5% during the third quarter. Kingsview Wealth Management LLC now owns 4,621 shares of the mining company’s stock worth $294,000 after acquiring an additional 849 shares during the last quarter. J.P. Morgan Private Wealth Advisors LLC bought a new position in shares of Rio Tinto Group during the third quarter worth about $2,797,000. Finally, Massachusetts Financial Services Co. MA raised its position in shares of Rio Tinto Group by 4.7% during the third quarter. Massachusetts Financial Services Co. MA now owns 117,837 shares of the mining company’s stock worth $7,499,000 after acquiring an additional 5,322 shares during the last quarter. 19.33% of the stock is currently owned by institutional investors.

Rio Tinto Group Trading Up 0.7 %

Rio Tinto Group stock traded up $0.47 during mid-day trading on Thursday, reaching $68.55. The stock had a trading volume of 355,327 shares, compared to its average volume of 2,859,489. The company has a current ratio of 1.69, a quick ratio of 1.17 and a debt-to-equity ratio of 0.23. Rio Tinto Group has a fifty-two week low of $58.27 and a fifty-two week high of $75.09. The stock’s 50-day simple moving average is $68.33 and its 200-day simple moving average is $68.44.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. StockNews.com upgraded Rio Tinto Group from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, May 21st. Liberum Capital reiterated a “hold” rating on shares of Rio Tinto Group in a report on Tuesday, March 5th. Finally, Citigroup downgraded Rio Tinto Group from a “buy” rating to a “neutral” rating in a report on Monday, May 20th. Three analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $72.00.

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.