Abel Hall LLC Sells 291 Shares of Rio Tinto Group (NYSE:RIO)

Abel Hall LLC reduced its stake in shares of Rio Tinto Group (NYSE:RIO) by 4.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,893 shares of the mining company’s stock after selling 291 shares during the quarter. Abel Hall LLC’s holdings in Rio Tinto Group were worth $419,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Sequoia Financial Advisors LLC raised its holdings in Rio Tinto Group by 2.4% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 9,717 shares of the mining company’s stock worth $641,000 after purchasing an additional 229 shares during the last quarter. FCG Investment Co raised its stake in shares of Rio Tinto Group by 2.8% during the second quarter. FCG Investment Co now owns 20,251 shares of the mining company’s stock worth $1,335,000 after buying an additional 549 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings in Rio Tinto Group by 5.4% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 47,072 shares of the mining company’s stock valued at $3,103,000 after buying an additional 2,426 shares during the period. IVC Wealth Advisors LLC boosted its stake in Rio Tinto Group by 9.6% in the second quarter. IVC Wealth Advisors LLC now owns 9,752 shares of the mining company’s stock valued at $643,000 after acquiring an additional 852 shares during the last quarter. Finally, 180 Wealth Advisors LLC grew its holdings in Rio Tinto Group by 9.9% during the 2nd quarter. 180 Wealth Advisors LLC now owns 6,928 shares of the mining company’s stock worth $472,000 after acquiring an additional 626 shares during the period. Institutional investors and hedge funds own 19.33% of the company’s stock.

Analysts Set New Price Targets

RIO has been the topic of a number of analyst reports. Berenberg Bank raised Rio Tinto Group from a “hold” rating to a “buy” rating in a research note on Wednesday, October 2nd. Macquarie reissued a “neutral” rating on shares of Rio Tinto Group in a research note on Wednesday, October 16th. Finally, StockNews.com cut Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a report on Tuesday, November 12th. Four investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy”.

Rio Tinto Group Trading Down 2.2 %

Shares of Rio Tinto Group stock opened at $62.11 on Monday. The stock’s fifty day simple moving average is $64.95 and its 200 day simple moving average is $65.18. The company has a quick ratio of 1.16, a current ratio of 1.70 and a debt-to-equity ratio of 0.23. Rio Tinto Group has a 12 month low of $59.35 and a 12 month high of $75.09.

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.