Van ECK Associates Corp Cuts Holdings in Rio Tinto Group (NYSE:RIO)

Van ECK Associates Corp decreased its holdings in shares of Rio Tinto Group (NYSE:RIO - Free Report) by 5.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 656,870 shares of the mining company's stock after selling 36,232 shares during the quarter. Van ECK Associates Corp owned 0.05% of Rio Tinto Group worth $38,631,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in RIO. Fisher Asset Management LLC grew its stake in Rio Tinto Group by 2.9% in the 3rd quarter. Fisher Asset Management LLC now owns 17,528,095 shares of the mining company's stock valued at $1,247,475,000 after purchasing an additional 485,731 shares during the period. FMR LLC grew its position in shares of Rio Tinto Group by 35.1% in the 3rd quarter. FMR LLC now owns 1,381,766 shares of the mining company's stock worth $98,340,000 after buying an additional 358,630 shares during the last quarter. Palliser Capital UK Ltd grew its stake in Rio Tinto Group by 213.8% in the fourth quarter. Palliser Capital UK Ltd now owns 989,417 shares of the mining company's stock worth $58,188,000 after purchasing an additional 674,117 shares during the period. Mediolanum International Funds Ltd purchased a new stake in Rio Tinto Group during the 3rd quarter valued at about $33,590,000. Finally, SPX Gestao de Recursos Ltda lifted its position in Rio Tinto Group by 1,773.2% during the third quarter. SPX Gestao de Recursos Ltda now owns 426,922 shares of the mining company's stock valued at $30,384,000 after purchasing an additional 404,131 shares during the period. 19.33% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

RIO has been the subject of several research reports. StockNews.com upgraded 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 price target on shares of Rio Tinto Group from $83.00 to $73.00 and set a "buy" rating for the company in a research report on Monday, January 6th. Four equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $73.00.

Rio Tinto Group Price Performance

Shares of Rio Tinto Group stock traded up $0.09 on Monday, hitting $63.38. 3,857,182 shares of the company traded hands, compared to its average volume of 3,294,770. The company has a 50-day moving average price of $60.65 and a 200 day moving average price of $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 current ratio of 1.70, a quick ratio of 1.16 and a debt-to-equity ratio of 0.23.

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.