Rio Tinto Group (NYSE:RIO) Shares Sold by Fifth Third Bancorp

Fifth Third Bancorp cut its holdings in Rio Tinto Group (NYSE:RIO - Free Report) by 23.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 35,748 shares of the mining company's stock after selling 10,901 shares during the period. Fifth Third Bancorp's holdings in Rio Tinto Group were worth $2,102,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Winch Advisory Services LLC acquired a new position in Rio Tinto Group in the third quarter valued at approximately $26,000. FSC Wealth Advisors LLC acquired a new position in Rio Tinto Group during the third quarter worth $28,000. Thurston Springer Miller Herd & Titak Inc. lifted its stake in Rio Tinto Group by 63.9% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 500 shares of the mining company's stock worth $29,000 after purchasing an additional 195 shares in the last quarter. Sound Income Strategies LLC lifted its stake in Rio Tinto Group by 70.9% during the third quarter. Sound Income Strategies LLC now owns 417 shares of the mining company's stock worth $30,000 after purchasing an additional 173 shares in the last quarter. Finally, Northwest Investment Counselors LLC acquired a new position in Rio Tinto Group during the third quarter worth $38,000. 19.33% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on RIO. Jefferies Financial Group cut their price objective on Rio Tinto Group from $83.00 to $73.00 and set a "buy" rating on the stock in a research report on Monday, January 6th. Macquarie reaffirmed a "neutral" rating on shares of Rio Tinto Group in a research note on Wednesday, October 16th. Finally, StockNews.com lowered shares of Rio Tinto Group from a "strong-buy" rating to a "buy" rating in a report on Saturday, January 25th. Four analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Rio Tinto Group presently has a consensus rating of "Moderate Buy" and a consensus price target of $73.00.

Rio Tinto Group Stock Down 0.8 %

Rio Tinto Group stock traded down $0.52 during midday trading on Friday, hitting $60.39. 2,567,787 shares of the stock were exchanged, compared to its average volume of 3,558,738. The company has a 50 day moving average price of $60.87 and a two-hundred day moving average price of $63.17. Rio Tinto Group has a 1 year low of $57.85 and a 1 year high of $74.24. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.16 and a current ratio of 1.70.

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.