Centaurus Financial Inc. Cuts Holdings in Rio Tinto Group (NYSE:RIO)

Centaurus Financial Inc. decreased its holdings in Rio Tinto Group (NYSE:RIO) by 7.1% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,455 shares of the mining company’s stock after selling 188 shares during the period. Centaurus Financial Inc.’s holdings in Rio Tinto Group were worth $175,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of the stock. Bank of Montreal Can raised its position in shares of Rio Tinto Group by 237.0% in the 2nd quarter. Bank of Montreal Can now owns 2,472,471 shares of the mining company’s stock worth $164,493,000 after acquiring an additional 1,738,752 shares in the last quarter. Natixis Advisors LLC raised its holdings in Rio Tinto Group by 8.7% in the second quarter. Natixis Advisors LLC now owns 695,731 shares of the mining company’s stock worth $45,870,000 after purchasing an additional 55,967 shares in the last quarter. Philip James Wealth Mangement LLC purchased a new stake in shares of Rio Tinto Group during the third quarter valued at about $1,345,000. First City Capital Management Inc. grew its position in shares of Rio Tinto Group by 118.5% in the 2nd quarter. First City Capital Management Inc. now owns 15,178 shares of the mining company’s stock worth $1,001,000 after buying an additional 8,230 shares during the last quarter. Finally, Northwest Bancshares Inc. bought a new position in shares of Rio Tinto Group during the 3rd quarter worth approximately $1,440,000. Hedge funds and other institutional investors own 19.33% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on RIO shares. Macquarie reaffirmed a “neutral” rating on shares of Rio Tinto Group in a report on Wednesday, October 16th. Berenberg Bank upgraded Rio Tinto Group from a “hold” rating to a “buy” rating in a research note on Wednesday, October 2nd. Royal Bank of Canada upgraded Rio Tinto Group to a “hold” rating in a research note on Wednesday, July 31st. Finally, StockNews.com lowered Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, November 12th. Four equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy”.

Rio Tinto Group Stock Up 0.5 %

NYSE RIO opened at $62.32 on Thursday. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.70 and a quick ratio of 1.16. The stock’s fifty day moving average price is $65.54 and its 200 day moving average price is $65.66. Rio Tinto Group has a 1 year low of $59.35 and a 1 year high of $75.09.

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.