Rio Tinto Group (NYSE:RIO) Shares Sold by Franklin Resources Inc.

Franklin Resources Inc. decreased its stake in shares of Rio Tinto Group (NYSE:RIO - Free Report) by 4.2% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 5,045,345 shares of the mining company's stock after selling 222,524 shares during the quarter. Franklin Resources Inc. owned about 0.40% of Rio Tinto Group worth $341,570,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the stock. Tidal Investments LLC grew its stake in shares of Rio Tinto Group by 16.2% in the 3rd quarter. Tidal Investments LLC now owns 122,623 shares of the mining company's stock valued at $8,727,000 after buying an additional 17,052 shares during the period. Wilmington Savings Fund Society FSB purchased a new stake in Rio Tinto Group in the third quarter valued at $218,000. World Investment Advisors LLC lifted its stake in shares of Rio Tinto Group by 5.9% in the 3rd quarter. World Investment Advisors LLC now owns 4,802 shares of the mining company's stock valued at $342,000 after purchasing an additional 266 shares during the last quarter. Sanctuary Advisors LLC grew its holdings in shares of Rio Tinto Group by 1.8% during the 3rd quarter. Sanctuary Advisors LLC now owns 28,506 shares of the mining company's stock worth $2,029,000 after purchasing an additional 516 shares during the period. Finally, Stock Yards Bank & Trust Co. increased its position in shares of Rio Tinto Group by 11.3% during the 3rd quarter. Stock Yards Bank & Trust Co. now owns 5,212 shares of the mining company's stock worth $371,000 after purchasing an additional 529 shares during the last quarter. 19.33% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. StockNews.com lowered shares of Rio Tinto Group from a "strong-buy" rating to a "buy" rating in a research note on Tuesday, November 12th. Berenberg Bank raised shares of Rio Tinto Group from a "hold" rating to a "buy" rating in a research report on Wednesday, October 2nd. Finally, Macquarie reissued 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 company. According to MarketBeat.com, Rio Tinto Group currently has an average rating of "Moderate Buy".

Rio Tinto Group Trading Down 2.0 %

Shares of NYSE:RIO traded down $1.24 during trading on Friday, hitting $62.21. The company's stock had a trading volume of 3,232,078 shares, compared to its average volume of 2,768,705. Rio Tinto Group has a fifty-two week low of $59.35 and a fifty-two week high of $75.09. The business has a 50 day moving average price of $64.30 and a two-hundred day moving average price of $65.01. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.16 and a current ratio of 1.70.

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.