Rio Tinto Group (NYSE:RIO) Shares Sold by Wellington Management Group LLP

Wellington Management Group LLP lessened its position in Rio Tinto Group (NYSE:RIO - Free Report) by 3.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 21,375,781 shares of the mining company's stock after selling 831,847 shares during the quarter. Wellington Management Group LLP owned about 1.71% of Rio Tinto Group worth $1,521,314,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in RIO. Armstrong Advisory Group Inc. grew its stake in Rio Tinto Group by 9.6% during the 3rd quarter. Armstrong Advisory Group Inc. now owns 1,808 shares of the mining company's stock valued at $129,000 after acquiring an additional 159 shares in the last quarter. Eagle Bluffs Wealth Management LLC grew its position in shares of Rio Tinto Group by 1.1% in the second quarter. Eagle Bluffs Wealth Management LLC now owns 14,997 shares of the mining company's stock valued at $989,000 after purchasing an additional 163 shares in the last quarter. Sound Income Strategies LLC grew 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 valued at $30,000 after purchasing an additional 173 shares in the last quarter. Concurrent Investment Advisors LLC increased its holdings in shares of Rio Tinto Group by 4.3% in the third quarter. Concurrent Investment Advisors LLC now owns 4,261 shares of the mining company's stock valued at $303,000 after purchasing an additional 175 shares during the last quarter. Finally, Fiduciary Financial Group LLC boosted its position in shares of Rio Tinto Group by 3.7% during the 3rd quarter. Fiduciary Financial Group LLC now owns 4,945 shares of the mining company's stock valued at $330,000 after acquiring an additional 178 shares during the last quarter. Hedge funds and other institutional investors own 19.33% of the company's stock.

Rio Tinto Group Stock Performance

Shares of RIO stock traded down $1.41 during trading hours on Friday, hitting $62.11. The company had a trading volume of 2,715,109 shares, compared to its average volume of 2,611,197. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.16 and a current ratio of 1.70. The company's fifty day moving average is $65.13 and its 200 day moving average is $65.37. Rio Tinto Group has a fifty-two week low of $59.35 and a fifty-two week high of $75.09.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on RIO. StockNews.com cut 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 shares of Rio Tinto Group from a "hold" rating to a "buy" rating in a research report on Wednesday, October 2nd. Finally, Macquarie reiterated a "neutral" rating on shares of Rio Tinto Group in a research report on Wednesday, October 16th. Four research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Rio Tinto Group currently 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.