Rio Tinto Group (NYSE:RIO) Shares Sold by Lazard Asset Management LLC

Lazard Asset Management LLC lowered its stake in Rio Tinto Group (NYSE:RIOGet Rating) by 6.4% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,981 shares of the mining company’s stock after selling 205 shares during the quarter. Lazard Asset Management LLC’s holdings in Rio Tinto Group were worth $181,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of RIO. JFS Wealth Advisors LLC boosted its holdings in Rio Tinto Group by 413.6% in the first quarter. JFS Wealth Advisors LLC now owns 642 shares of the mining company’s stock valued at $52,000 after purchasing an additional 517 shares during the last quarter. FDx Advisors Inc. boosted its holdings in Rio Tinto Group by 21.8% in the first quarter. FDx Advisors Inc. now owns 23,855 shares of the mining company’s stock valued at $1,918,000 after purchasing an additional 4,276 shares during the last quarter. Sterling Investment Advisors Ltd. boosted its holdings in Rio Tinto Group by 135.7% in the first quarter. Sterling Investment Advisors Ltd. now owns 1,650 shares of the mining company’s stock valued at $133,000 after purchasing an additional 950 shares during the last quarter. Sandy Spring Bank boosted its holdings in Rio Tinto Group by 4.8% in the first quarter. Sandy Spring Bank now owns 4,829 shares of the mining company’s stock valued at $388,000 after purchasing an additional 220 shares during the last quarter. Finally, Envestnet Asset Management Inc. boosted its holdings in Rio Tinto Group by 32.6% in the first quarter. Envestnet Asset Management Inc. now owns 681,420 shares of the mining company’s stock valued at $54,786,000 after purchasing an additional 167,483 shares during the last quarter. Hedge funds and other institutional investors own 10.05% of the company’s stock.

Rio Tinto Group Price Performance

RIO opened at $65.19 on Monday. Rio Tinto Group has a 12 month low of $50.92 and a 12 month high of $84.69. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.34 and a current ratio of 1.79. The stock’s 50 day moving average price is $56.71 and its 200 day moving average price is $60.77.

Wall Street Analyst Weigh In

RIO has been the topic of a number of research analyst reports. Macquarie downgraded Rio Tinto Group from an “outperform” rating to a “neutral” rating in a report on Tuesday, August 23rd. Morgan Stanley reduced their target price on Rio Tinto Group from GBX 5,990 ($70.39) to GBX 5,900 ($69.33) and set an “overweight” rating on the stock in a report on Tuesday, August 16th. Berenberg Bank increased their target price on Rio Tinto Group from GBX 4,100 ($48.18) to GBX 4,300 ($50.53) in a report on Friday, July 29th. StockNews.com initiated coverage on Rio Tinto Group in a report on Wednesday, October 12th. They set a “buy” rating on the stock. Finally, JPMorgan Chase & Co. reduced their target price on Rio Tinto Group from GBX 5,580 ($65.57) to GBX 5,450 ($64.04) in a report on Friday, October 14th. Three analysts have rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $4,340.00.

Rio Tinto Group Profile

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Rio Tinto Group engages in exploring, mining, and processing mineral resources worldwide. The company offers aluminum, copper, diamonds, gold, borates, titanium dioxide, salt, iron ore, and lithium. It also owns and operates open pit and underground mines, mills, refineries, smelters, power stations, and research and service facilities.

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Institutional Ownership by Quarter for Rio Tinto Group (NYSE:RIO)

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