Quantbot Technologies LP Sells 10,846 Shares of Rio Tinto Group (NYSE:RIO)

Quantbot Technologies LP lowered its holdings in Rio Tinto Group (NYSE:RIO) by 21.0% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 40,833 shares of the mining company’s stock after selling 10,846 shares during the quarter. Quantbot Technologies LP’s holdings in Rio Tinto Group were worth $2,906,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. GHP Investment Advisors Inc. bought a new stake in Rio Tinto Group in the second quarter valued at $26,000. Winch Advisory Services LLC purchased a new position in shares of Rio Tinto Group during the third quarter valued at about $26,000. FSC Wealth Advisors LLC bought a new position in Rio Tinto Group in the third quarter worth about $28,000. Sound Income Strategies LLC raised its stake in Rio Tinto Group by 70.9% in the third quarter. Sound Income Strategies LLC now owns 417 shares of the mining company’s stock worth $30,000 after buying an additional 173 shares in the last quarter. Finally, Centerpoint Advisors LLC boosted its position in Rio Tinto Group by 110.0% during the 2nd quarter. Centerpoint Advisors LLC now owns 525 shares of the mining company’s stock valued at $35,000 after acquiring an additional 275 shares in the last quarter. 19.33% of the stock is currently owned by institutional investors.

Rio Tinto Group Stock Performance

NYSE:RIO opened at $62.32 on Thursday. The company has a current ratio of 1.70, a quick ratio of 1.16 and a debt-to-equity ratio of 0.23. The company’s 50 day moving average price is $65.54 and its 200-day moving average price is $65.66. Rio Tinto Group has a 52 week low of $59.35 and a 52 week high of $75.09.

Analysts Set New Price Targets

A number of analysts have recently commented on RIO shares. Royal Bank of Canada upgraded shares of Rio Tinto Group to a “hold” rating in a report on Wednesday, July 31st. Macquarie reissued a “neutral” rating on shares of Rio Tinto Group in a research note on Wednesday, October 16th. StockNews.com cut shares of Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a report on Tuesday, November 12th. Finally, Berenberg Bank upgraded shares of Rio Tinto Group from a “hold” rating to a “buy” rating in a report on Wednesday, October 2nd. Four investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Rio Tinto Group presently has a consensus rating of “Moderate Buy”.

Rio Tinto Group Company 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.