Sumitomo Mitsui Trust Group Inc. Cuts Holdings in Rio Tinto Group (NYSE:RIO)

Sumitomo Mitsui Trust Group Inc. lowered its position in Rio Tinto Group (NYSE:RIO - Free Report) by 12.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 54,581 shares of the mining company's stock after selling 7,933 shares during the period. Sumitomo Mitsui Trust Group Inc.'s holdings in Rio Tinto Group were worth $3,210,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Creative Planning increased its holdings in Rio Tinto Group by 4.4% during the third quarter. Creative Planning now owns 80,160 shares of the mining company's stock worth $5,705,000 after buying an additional 3,413 shares during the last quarter. NBC Securities Inc. raised its position in Rio Tinto Group by 24.2% in the third quarter. NBC Securities Inc. now owns 1,207 shares of the mining company's stock worth $85,000 after acquiring an additional 235 shares during the period. Foster Victor Wealth Advisors LLC raised its position in Rio Tinto Group by 6.7% in the third quarter. Foster Victor Wealth Advisors LLC now owns 3,755 shares of the mining company's stock worth $249,000 after acquiring an additional 237 shares during the period. SeaCrest Wealth Management LLC raised its position in Rio Tinto Group by 2.5% in the third quarter. SeaCrest Wealth Management LLC now owns 10,041 shares of the mining company's stock worth $715,000 after acquiring an additional 248 shares during the period. Finally, Vontobel Holding Ltd. raised its position in Rio Tinto Group by 64.0% in the third quarter. Vontobel Holding Ltd. now owns 8,910 shares of the mining company's stock worth $634,000 after acquiring an additional 3,476 shares during the period. Hedge funds and other institutional investors own 19.33% of the company's stock.

Analyst Ratings Changes

Several analysts have commented on the stock. StockNews.com raised shares of Rio Tinto Group from a "buy" rating to a "strong-buy" rating in a research report on Friday. Jefferies Financial Group reduced 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. Four research analysts have rated the stock with a hold rating, three have issued a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $73.00.

Rio Tinto Group Price Performance

NYSE:RIO traded up $0.09 during mid-day trading on Monday, hitting $63.38. 3,857,182 shares of the stock traded hands, compared to its average volume of 3,294,770. The business's 50-day moving average price is $60.65 and its 200 day moving average price is $62.92. Rio Tinto Group has a 12-month low of $57.85 and a 12-month high of $74.24. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.70 and a quick ratio of 1.16.

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.