Rio Tinto Group (NYSE:RIO) Shares Sold by Thrive Wealth Management LLC

Thrive Wealth Management LLC trimmed its stake in shares of Rio Tinto Group (NYSE:RIO) by 17.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,757 shares of the mining company’s stock after selling 1,029 shares during the period. Thrive Wealth Management LLC’s holdings in Rio Tinto Group were worth $303,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of RIO. Northwest Investment Counselors LLC acquired a new position in shares of Rio Tinto Group in the first quarter worth about $26,000. AdvisorNet Financial Inc lifted its holdings in shares of Rio Tinto Group by 785.7% in the fourth quarter. AdvisorNet Financial Inc now owns 372 shares of the mining company’s stock valued at $28,000 after purchasing an additional 330 shares in the last quarter. Parkside Financial Bank & Trust boosted its position in shares of Rio Tinto Group by 39.3% in the fourth quarter. Parkside Financial Bank & Trust now owns 553 shares of the mining company’s stock worth $41,000 after buying an additional 156 shares during the period. Financial Management Professionals Inc. grew its holdings in shares of Rio Tinto Group by 250.6% during the fourth quarter. Financial Management Professionals Inc. now owns 617 shares of the mining company’s stock valued at $46,000 after buying an additional 441 shares in the last quarter. Finally, Bruce G. Allen Investments LLC acquired a new position in Rio Tinto Group during the fourth quarter valued at $47,000. Hedge funds and other institutional investors own 19.33% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on RIO. Citigroup downgraded Rio Tinto Group from a “buy” rating to a “neutral” rating in a report on Monday, May 20th. StockNews.com upgraded shares of Rio Tinto Group from a “buy” rating to a “strong-buy” rating in a report on Tuesday, May 21st. Liberum Capital reiterated a “hold” rating on shares of Rio Tinto Group in a report on Tuesday, March 5th. Finally, Berenberg Bank downgraded Rio Tinto Group from a “buy” rating to a “hold” rating in a research note on Thursday. Four investment analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $72.00.

Rio Tinto Group Trading Down 1.5 %

RIO stock traded down $0.97 during trading hours on Thursday, hitting $65.83. The company’s stock had a trading volume of 2,081,161 shares, compared to its average volume of 2,743,499. The stock has a 50 day moving average price of $68.85 and a two-hundred day moving average price of $68.17. Rio Tinto Group has a 12 month low of $58.27 and a 12 month high of $75.09. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.17 and a current ratio of 1.69.

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.