Violich Capital Management Inc. Reduces Position in Rio Tinto Group (NYSE:RIO)

Violich Capital Management Inc. cut its holdings in shares of Rio Tinto Group (NYSE:RIO - Free Report) by 56.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 19,430 shares of the mining company's stock after selling 25,250 shares during the period. Violich Capital Management Inc.'s holdings in Rio Tinto Group were worth $1,143,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Analyst Upgrades and Downgrades

RIO has been the subject of a number of analyst 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 decreased their price objective 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 given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, Rio Tinto Group presently has a consensus rating of "Moderate Buy" and a consensus price target of $73.00.

Rio Tinto Group Trading Up 0.1 %

Shares of RIO stock traded up $0.09 on Friday, reaching $63.38. 3,857,182 shares of the company were exchanged, compared to its average volume of 3,229,802. The business has a 50-day moving average price of $60.63 and a 200 day moving average price of $62.95. The company has a quick ratio of 1.16, a current ratio of 1.70 and a debt-to-equity ratio of 0.23. Rio Tinto Group has a 1 year low of $57.85 and a 1 year high of $74.24.

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.