Rio Tinto Group (NYSE:RIO) Shares Sold by D.A. Davidson & CO.

D.A. Davidson & CO. cut its holdings in Rio Tinto Group (NYSE:RIO - Free Report) by 11.7% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund 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.

Several other large investors have also modified their holdings of the business. GHP Investment Advisors Inc. acquired a new stake in Rio Tinto Group in the 2nd quarter valued at approximately $26,000. Winch Advisory Services LLC acquired a new position in shares of Rio Tinto Group in the third quarter worth $26,000. FSC Wealth Advisors LLC acquired a new stake in Rio Tinto Group in the 3rd quarter valued at about $28,000. Sound Income Strategies LLC raised its holdings 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 valued at $30,000 after acquiring an additional 173 shares in the last quarter. Finally, Centerpoint Advisors LLC lifted its position in shares of Rio Tinto Group by 110.0% during the 2nd quarter. Centerpoint Advisors LLC now owns 525 shares of the mining company's stock worth $35,000 after purchasing an additional 275 shares during the last quarter. Institutional investors and hedge funds own 19.33% of the company's stock.

Rio Tinto Group Price Performance

NYSE RIO traded up $0.29 during trading on Thursday, reaching $62.32. The company's stock had a trading volume of 1,712,837 shares, compared to its average volume of 2,735,135. The business's fifty day moving average price is $65.48 and its 200-day moving average price is $65.64. Rio Tinto Group has a twelve month low of $59.35 and a twelve month 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.

Wall Street Analyst Weigh In

Several equities analysts have commented on RIO shares. Macquarie reiterated a "neutral" rating on shares of Rio Tinto Group in a research note on Wednesday, October 16th. Royal Bank of Canada upgraded shares of Rio Tinto Group to a "hold" rating in a research note on Wednesday, July 31st. StockNews.com lowered Rio Tinto Group from a "strong-buy" rating to a "buy" rating in a report on Tuesday, November 12th. Finally, Berenberg Bank raised Rio Tinto Group from a "hold" rating to a "buy" rating in a report on Wednesday, October 2nd. Four analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Rio Tinto Group has a consensus rating of "Moderate Buy".

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.