Level Four Advisory Services LLC Sells 2,787 Shares of Rio Tinto Group (NYSE:RIO)

Level Four Advisory Services LLC lessened its stake in Rio Tinto Group (NYSE:RIO) by 39.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,313 shares of the mining company’s stock after selling 2,787 shares during the period. Level Four Advisory Services LLC’s holdings in Rio Tinto Group were worth $321,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Schechter Investment Advisors LLC increased its holdings in Rio Tinto Group by 10.9% during the 3rd quarter. Schechter Investment Advisors LLC now owns 8,732 shares of the mining company’s stock valued at $556,000 after purchasing an additional 858 shares during the period. International Assets Investment Management LLC purchased a new position in Rio Tinto Group during the 4th quarter valued at about $7,954,000. Sei Investments Co. grew its holdings in shares of Rio Tinto Group by 18.3% during the 3rd quarter. Sei Investments Co. now owns 721,662 shares of the mining company’s stock worth $45,926,000 after acquiring an additional 111,623 shares during the period. Morgan Stanley grew its holdings in shares of Rio Tinto Group by 2.7% during the 3rd quarter. Morgan Stanley now owns 4,464,344 shares of the mining company’s stock worth $284,111,000 after acquiring an additional 118,706 shares during the period. Finally, Kingswood Wealth Advisors LLC grew its holdings in shares of Rio Tinto Group by 88.2% during the 4th quarter. Kingswood Wealth Advisors LLC now owns 8,221 shares of the mining company’s stock worth $612,000 after acquiring an additional 3,852 shares during the period. Institutional investors own 19.33% of the company’s stock.

Wall Street Analyst Weigh In

RIO has been the topic of a number of analyst reports. StockNews.com raised Rio Tinto Group from a “buy” rating to a “strong-buy” rating in a research report on Tuesday. Citigroup cut Rio Tinto Group from a “buy” rating to a “neutral” rating in a research report on Monday. Finally, Liberum Capital reissued a “hold” rating on shares of Rio Tinto Group in a research report on Tuesday, March 5th. Three research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $72.00.

Rio Tinto Group Stock Down 1.7 %

NYSE RIO opened at $72.21 on Thursday. The business’s fifty day moving average price is $66.89 and its 200-day moving average price is $68.17. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.69 and a quick ratio of 1.17. Rio Tinto Group has a 1-year low of $58.27 and a 1-year high of $75.09.

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.