Independent Advisor Alliance Cuts Stake in Rio Tinto Group (NYSE:RIO)

Independent Advisor Alliance lowered its position in shares of Rio Tinto Group (NYSE:RIO) by 3.0% in the third quarter, Holdings Channel reports. The institutional investor owned 42,011 shares of the mining company’s stock after selling 1,280 shares during the period. Independent Advisor Alliance’s holdings in Rio Tinto Group were worth $2,990,000 as of its most recent filing with the SEC.

Other large investors also recently bought and sold shares of the company. Fisher Asset Management LLC increased its holdings in shares of Rio Tinto Group by 2.9% in the 3rd quarter. Fisher Asset Management LLC now owns 17,528,095 shares of the mining company’s stock valued at $1,247,475,000 after purchasing an additional 485,731 shares in the last quarter. Kingsview Wealth Management LLC increased its holdings in shares of Rio Tinto Group by 14.9% in the 3rd quarter. Kingsview Wealth Management LLC now owns 5,319 shares of the mining company’s stock valued at $379,000 after purchasing an additional 690 shares in the last quarter. Cerity Partners LLC increased its holdings in shares of Rio Tinto Group by 26.6% in the 3rd quarter. Cerity Partners LLC now owns 55,078 shares of the mining company’s stock valued at $3,920,000 after purchasing an additional 11,558 shares in the last quarter. Eagle Asset Management Inc. increased its holdings in shares of Rio Tinto Group by 11.1% in the 3rd quarter. Eagle Asset Management Inc. now owns 9,040 shares of the mining company’s stock valued at $643,000 after purchasing an additional 903 shares in the last quarter. Finally, Banco Santander S.A. increased its holdings in shares of Rio Tinto Group by 6.6% in the 3rd quarter. Banco Santander S.A. now owns 27,835 shares of the mining company’s stock valued at $1,981,000 after purchasing an additional 1,716 shares in the last quarter. Hedge funds and other institutional investors own 19.33% of the company’s stock.

Wall Street Analyst Weigh In

RIO has been the subject of a number of research analyst reports. Royal Bank of Canada upgraded shares of Rio Tinto Group to a “hold” rating in a report on Wednesday, July 31st. StockNews.com downgraded shares of Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a report on Tuesday, November 12th. Berenberg Bank raised shares of Rio Tinto Group from a “hold” rating to a “buy” rating in a research note on Wednesday, October 2nd. Finally, Macquarie reissued a “neutral” rating on shares of Rio Tinto Group in a research note on Wednesday, October 16th. Four analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Rio Tinto Group has a consensus rating of “Moderate Buy”.

Rio Tinto Group Price Performance

Shares of NYSE RIO opened at $62.97 on Tuesday. Rio Tinto Group has a 52 week low of $59.35 and a 52 week high of $75.09. The company’s 50-day moving average price is $65.57 and its 200 day moving average price is $65.74. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.70 and a quick ratio of 1.16.

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.