D.A. Davidson & CO. Trims Holdings in Rio Tinto Group (NYSE:RIO)

D.A. Davidson & CO. lowered its position in shares of Rio Tinto Group (NYSE:RIO) by 11.7% during the 3rd quarter, Holdings Channel.com reports. The firm owned 85,543 shares of the mining company’s stock after selling 11,331 shares during the period. D.A. Davidson & CO.’s holdings in Rio Tinto Group were worth $6,088,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of RIO. Armstrong Advisory Group Inc. raised its stake in Rio Tinto Group by 9.6% during the 3rd quarter. Armstrong Advisory Group Inc. now owns 1,808 shares of the mining company’s stock valued at $129,000 after purchasing an additional 159 shares during the period. Eagle Bluffs Wealth Management LLC grew its holdings in Rio Tinto Group by 1.1% during the 2nd quarter. Eagle Bluffs Wealth Management LLC now owns 14,997 shares of the mining company’s stock valued at $989,000 after buying an additional 163 shares in the last quarter. Sound Income Strategies LLC raised its position in shares of Rio Tinto Group by 70.9% during the third quarter. Sound Income Strategies LLC now owns 417 shares of the mining company’s stock valued at $30,000 after buying an additional 173 shares during the last quarter. Concurrent Investment Advisors LLC boosted its position in shares of Rio Tinto Group by 4.3% during the third quarter. Concurrent Investment Advisors LLC now owns 4,261 shares of the mining company’s stock worth $303,000 after acquiring an additional 175 shares during the last quarter. Finally, Fiduciary Financial Group LLC grew its stake in Rio Tinto Group by 3.7% during the third quarter. Fiduciary Financial Group LLC now owns 4,945 shares of the mining company’s stock valued at $330,000 after acquiring an additional 178 shares in the last quarter. 19.33% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts have commented on RIO shares. Berenberg Bank upgraded shares of Rio Tinto Group from a “hold” rating to a “buy” rating in a research note on Wednesday, October 2nd. Royal Bank of Canada upgraded Rio Tinto Group to a “hold” rating in a research report on Wednesday, July 31st. Macquarie restated a “neutral” rating on shares of Rio Tinto Group in a report 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 equities research 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. According to MarketBeat, the stock has a consensus rating of “Moderate Buy”.

Rio Tinto Group Stock Performance

Shares of Rio Tinto Group stock opened at $62.32 on Thursday. The stock has a 50 day moving average price of $65.54 and a 200-day moving average price of $65.66. Rio Tinto Group has a one year low of $59.35 and a one year high of $75.09. The company has a current ratio of 1.70, a quick ratio of 1.16 and a debt-to-equity ratio of 0.23.

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.