Castellan Group Sells 815 Shares of Rio Tinto Group (NYSE:RIO)

Castellan Group cut its holdings in Rio Tinto Group (NYSE:RIO) by 4.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 19,288 shares of the mining company’s stock after selling 815 shares during the period. Castellan Group’s holdings in Rio Tinto Group were worth $1,134,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of RIO. Fisher Asset Management LLC lifted its position 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 buying an additional 485,731 shares during the last quarter. FMR LLC grew its holdings in Rio Tinto Group by 35.1% during the third quarter. FMR LLC now owns 1,381,766 shares of the mining company’s stock valued at $98,340,000 after purchasing an additional 358,630 shares during the last quarter. Palliser Capital UK Ltd raised its position 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 valued at $58,188,000 after purchasing an additional 674,117 shares during the period. Van ECK Associates Corp lifted its stake in shares of Rio Tinto Group by 10.7% in the third quarter. Van ECK Associates Corp now owns 693,102 shares of the mining company’s stock worth $49,328,000 after buying an additional 67,213 shares during the last quarter. Finally, Mediolanum International Funds Ltd bought a new stake in Rio Tinto Group during the third quarter valued at about $33,590,000. 19.33% of the stock is owned by institutional investors and hedge funds.

Rio Tinto Group Stock Performance

Rio Tinto Group stock opened at $62.02 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. Rio Tinto Group has a 12-month low of $57.85 and a 12-month high of $74.24. The business’s 50-day simple moving average is $60.66 and its 200 day simple moving average is $62.96.

Analyst Ratings Changes

Several research firms have recently weighed in on RIO. StockNews.com cut Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a research report on Saturday, January 25th. Jefferies Financial Group cut their target price on shares of Rio Tinto Group from $83.00 to $73.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Finally, Macquarie restated a “neutral” rating on shares of Rio Tinto Group in a research report on Wednesday, October 16th. Four equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Rio Tinto Group has a consensus rating of “Moderate Buy” and a consensus price target of $73.00.

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.