Rio Tinto Group (NYSE:RIO) Shares Sold by Y Intercept Hong Kong Ltd

Y Intercept Hong Kong Ltd lessened its stake in Rio Tinto Group (NYSE:RIO) by 73.1% in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 6,921 shares of the mining company’s stock after selling 18,781 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in Rio Tinto Group were worth $493,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in RIO. GHP Investment Advisors Inc. acquired a new position in shares of Rio Tinto Group during the 2nd quarter worth about $26,000. Winch Advisory Services LLC acquired a new position in shares of Rio Tinto Group during the third quarter valued at approximately $26,000. FSC Wealth Advisors LLC purchased a new position in shares of Rio Tinto Group in the third quarter valued at approximately $28,000. Sound Income Strategies LLC boosted its stake 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 last quarter. Finally, Centerpoint Advisors LLC increased its position in shares of Rio Tinto Group by 110.0% during the second quarter. Centerpoint Advisors LLC now owns 525 shares of the mining company’s stock worth $35,000 after purchasing an additional 275 shares in the last quarter. 19.33% of the stock is owned by hedge funds and other institutional investors.

Rio Tinto Group Trading Down 2.0 %

NYSE RIO opened at $62.21 on Monday. The business’s fifty day simple moving average is $64.30 and its 200-day simple moving average is $64.93. 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 has a 52 week low of $59.35 and a 52 week high of $75.09.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. Berenberg Bank upgraded Rio Tinto Group from a “hold” rating to a “buy” rating in a report on Wednesday, October 2nd. StockNews.com downgraded shares of Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, November 12th. Finally, Macquarie reaffirmed a “neutral” rating on shares of Rio Tinto Group in a research note on Wednesday, October 16th. Four equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy”.

Rio Tinto Group Company 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.