Y Intercept Hong Kong Ltd Decreases Position in Rio Tinto Group (NYSE:RIO)

Y Intercept Hong Kong Ltd decreased its stake in shares of Rio Tinto Group (NYSE:RIO - Free Report) by 73.1% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,921 shares of the mining company's stock after selling 18,781 shares during the quarter. Y Intercept Hong Kong Ltd's holdings in Rio Tinto Group were worth $493,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the stock. Winch Advisory Services LLC purchased a new stake in shares of Rio Tinto Group during the third quarter valued at approximately $26,000. GHP Investment Advisors Inc. purchased a new stake in shares of Rio Tinto Group during the second quarter valued at $26,000. FSC Wealth Advisors LLC purchased a new position in Rio Tinto Group in the 3rd quarter worth about $28,000. Sound Income Strategies LLC lifted its stake in Rio Tinto Group by 70.9% during the 3rd 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 during the period. Finally, Centerpoint Advisors LLC boosted its holdings 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 valued at $35,000 after acquiring an additional 275 shares during the last quarter. 19.33% of the stock is owned by hedge funds and other institutional investors.

Rio Tinto Group Stock Down 1.5 %

Shares of NYSE:RIO traded down $0.95 during trading on Monday, hitting $61.26. 2,878,864 shares of the company's stock were exchanged, compared to its average volume of 2,769,160. 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 has a 52-week low of $59.35 and a 52-week high of $75.09. The business's 50-day simple moving average is $64.13 and its 200 day simple moving average is $64.87.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on RIO shares. StockNews.com downgraded shares of Rio Tinto Group from a "strong-buy" rating to a "buy" rating in a research report on Tuesday, November 12th. Berenberg Bank raised Rio Tinto Group from a "hold" rating to a "buy" rating in a report on Wednesday, October 2nd. Finally, Macquarie reissued a "neutral" rating on shares of Rio Tinto Group in a 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 issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Rio Tinto Group presently has an average rating of "Moderate Buy".

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.