Nemes Rush Group LLC Decreases Stock Position in Rio Tinto Group (NYSE:RIO)

Nemes Rush Group LLC lessened its stake in Rio Tinto Group (NYSE:RIO) by 30.7% in the fourth quarter, Holdings Channel reports. The fund owned 1,740 shares of the mining company’s stock after selling 771 shares during the quarter. Nemes Rush Group LLC’s holdings in Rio Tinto Group were worth $130,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Wellington Management Group LLP boosted its stake in shares of Rio Tinto Group by 41.0% during the 3rd quarter. Wellington Management Group LLP now owns 23,193,773 shares of the mining company’s stock valued at $1,476,052,000 after buying an additional 6,748,799 shares during the last quarter. Fisher Asset Management LLC boosted its stake in shares of Rio Tinto Group by 3.1% during the 4th quarter. Fisher Asset Management LLC now owns 16,045,541 shares of the mining company’s stock valued at $1,194,751,000 after buying an additional 475,329 shares during the last quarter. Van ECK Associates Corp boosted its stake in shares of Rio Tinto Group by 191.3% during the 4th quarter. Van ECK Associates Corp now owns 715,829 shares of the mining company’s stock valued at $53,301,000 after buying an additional 470,073 shares during the last quarter. Qube Research & Technologies Ltd boosted its stake in shares of Rio Tinto Group by 160.2% during the 3rd quarter. Qube Research & Technologies Ltd now owns 581,714 shares of the mining company’s stock valued at $37,020,000 after buying an additional 358,121 shares during the last quarter. Finally, Envestnet Asset Management Inc. boosted its stake in shares of Rio Tinto Group by 33.5% during the 3rd quarter. Envestnet Asset Management Inc. now owns 965,384 shares of the mining company’s stock valued at $61,437,000 after buying an additional 242,313 shares during the last quarter. Hedge funds and other institutional investors own 19.33% of the company’s stock.

Rio Tinto Group Stock Down 1.2 %

NYSE RIO traded down $0.86 during trading hours on Wednesday, hitting $72.62. The company had a trading volume of 1,835,098 shares, compared to its average volume of 2,924,516. Rio Tinto Group has a fifty-two week low of $58.27 and a fifty-two week high of $75.09. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.69 and a quick ratio of 1.17. The business has a fifty day simple moving average of $66.71 and a 200-day simple moving average of $68.15.

Analysts Set New Price Targets

Several research firms have recently commented on RIO. StockNews.com upgraded Rio Tinto Group from a “buy” rating to a “strong-buy” rating in a research note on Tuesday. Liberum Capital reiterated a “hold” rating on shares of Rio Tinto Group in a research note on Tuesday, March 5th. Finally, Citigroup lowered Rio Tinto Group from a “buy” rating to a “neutral” rating in a research report on Monday. Three research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $72.00.

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.