Rio Tinto Group (NYSE:RIO) Shares Sold by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. lessened its stake in Rio Tinto Group (NYSE:RIO) by 7.1% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 57,423 shares of the mining company’s stock after selling 4,363 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Rio Tinto Group were worth $4,276,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in RIO. Independent Advisor Alliance lifted its stake in Rio Tinto Group by 58.7% in the fourth quarter. Independent Advisor Alliance now owns 13,928 shares of the mining company’s stock worth $1,037,000 after acquiring an additional 5,152 shares during the last quarter. Anthracite Investment Company Inc. purchased a new stake in shares of Rio Tinto Group during the 4th quarter worth $2,234,000. Financial Advocates Investment Management acquired a new position in shares of Rio Tinto Group during the fourth quarter worth $216,000. Navellier & Associates Inc. increased its holdings in Rio Tinto Group by 0.6% in the fourth quarter. Navellier & Associates Inc. now owns 53,896 shares of the mining company’s stock valued at $4,013,000 after buying an additional 303 shares during the last quarter. Finally, Princeton Capital Management LLC increased its holdings in Rio Tinto Group by 8.2% in the fourth quarter. Princeton Capital Management LLC now owns 8,543 shares of the mining company’s stock valued at $636,000 after buying an additional 648 shares during the last quarter. 19.33% of the stock is owned by institutional investors and hedge funds.

Rio Tinto Group Stock Performance

RIO opened at $71.85 on Friday. Rio Tinto Group has a one year low of $58.27 and a one year high of $75.09. The company has a current ratio of 1.69, a quick ratio of 1.17 and a debt-to-equity ratio of 0.23. The business’s 50-day simple moving average is $67.28 and its 200-day simple moving average is $68.23.

Analyst Ratings Changes

RIO has been the subject of several analyst reports. Liberum Capital reaffirmed a “hold” rating on shares of Rio Tinto Group in a research report on Tuesday, March 5th. Citigroup downgraded Rio Tinto Group from a “buy” rating to a “neutral” rating in a report on Monday, May 20th. Finally, StockNews.com raised shares of Rio Tinto Group from a “buy” rating to a “strong-buy” rating in a report on Tuesday. Three research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Rio Tinto Group presently has an average rating of “Moderate Buy” and an average price target of $72.00.

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.