Stock Yards Bank & Trust Co. Trims Stake in Rio Tinto Group (NYSE:RIO)

Stock Yards Bank & Trust Co. lowered its stake in shares of Rio Tinto Group (NYSE:RIO) by 10.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,683 shares of the mining company’s stock after selling 529 shares during the quarter. Stock Yards Bank & Trust Co.’s holdings in Rio Tinto Group were worth $275,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently modified their holdings of RIO. AQR Capital Management LLC purchased a new stake in Rio Tinto Group in the second quarter worth about $518,000. Sanctuary Advisors LLC purchased a new stake in Rio Tinto Group in the second quarter worth about $1,910,000. Azzad Asset Management Inc. ADV grew its holdings in Rio Tinto Group by 2.1% in the third quarter. Azzad Asset Management Inc. ADV now owns 22,153 shares of the mining company’s stock worth $1,577,000 after purchasing an additional 458 shares during the period. Mather Group LLC. lifted its stake in shares of Rio Tinto Group by 87.5% in the third quarter. Mather Group LLC. now owns 2,967 shares of the mining company’s stock worth $211,000 after buying an additional 1,385 shares in the last quarter. Finally, Advocate Group LLC lifted its stake in shares of Rio Tinto Group by 17.1% in the third quarter. Advocate Group LLC now owns 45,623 shares of the mining company’s stock worth $3,247,000 after buying an additional 6,667 shares in the last quarter. Hedge funds and other institutional investors own 19.33% of the company’s stock.

Rio Tinto Group Trading Up 2.3 %

Shares of Rio Tinto Group stock opened at $61.24 on Wednesday. The company’s 50 day moving average is $60.77 and its 200 day moving average is $63.05. Rio Tinto Group has a twelve month low of $57.85 and a twelve 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.

Wall Street Analysts Forecast Growth

RIO has been the topic of several analyst reports. StockNews.com downgraded shares of Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a research note on Saturday, January 25th. Jefferies Financial Group dropped their target price on shares of Rio Tinto Group from $83.00 to $73.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. Finally, Macquarie reiterated a “neutral” rating on shares of Rio Tinto Group in a research note on Wednesday, October 16th. 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. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average 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.