Ingalls & Snyder LLC Sells 1,583 Shares of Rio Tinto Group (NYSE:RIO)

Ingalls & Snyder LLC decreased its position in Rio Tinto Group (NYSE:RIO) by 19.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,432 shares of the mining company’s stock after selling 1,583 shares during the quarter. Ingalls & Snyder LLC’s holdings in Rio Tinto Group were worth $378,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of RIO. Palliser Capital UK Ltd grew its stake in shares of Rio Tinto Group by 213.8% in the fourth quarter. Palliser Capital UK Ltd now owns 989,417 shares of the mining company’s stock worth $58,188,000 after acquiring an additional 674,117 shares during the last quarter. Fisher Asset Management LLC grew its stake in shares of Rio Tinto Group by 2.9% in the third quarter. Fisher Asset Management LLC now owns 17,528,095 shares of the mining company’s stock worth $1,247,475,000 after acquiring an additional 485,731 shares during the last quarter. Mediolanum International Funds Ltd acquired a new stake in shares of Rio Tinto Group in the third quarter worth $33,590,000. SPX Gestao de Recursos Ltda grew its stake in shares of Rio Tinto Group by 1,773.2% in the third quarter. SPX Gestao de Recursos Ltda now owns 426,922 shares of the mining company’s stock worth $30,384,000 after acquiring an additional 404,131 shares during the last quarter. Finally, FMR LLC grew its stake in shares of Rio Tinto Group by 35.1% in the third quarter. FMR LLC now owns 1,381,766 shares of the mining company’s stock worth $98,340,000 after acquiring an additional 358,630 shares during the last quarter. Institutional investors own 19.33% of the company’s stock.

Analysts Set New Price Targets

RIO has been the topic of a number of recent research reports. StockNews.com upgraded shares of Rio Tinto Group from a “buy” rating to a “strong-buy” rating in a research note on Friday. Jefferies Financial Group decreased their price target 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. Four equities research analysts have rated the stock with a hold rating, three have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $73.00.

Rio Tinto Group Price Performance

Shares of NYSE RIO opened at $63.38 on Friday. The business has a fifty day moving average of $60.63 and a two-hundred day moving average of $62.95. Rio Tinto Group has a 52-week low of $57.85 and a 52-week high of $74.24. 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.