Cravens & Co Advisors LLC Has $901,000 Holdings in Rio Tinto Group (NYSE:RIO)

Cravens & Co Advisors LLC reduced its holdings in shares of Rio Tinto Group (NYSE:RIO) by 5.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 12,657 shares of the mining company’s stock after selling 747 shares during the period. Cravens & Co Advisors LLC’s holdings in Rio Tinto Group were worth $901,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Armstrong Advisory Group Inc. lifted its holdings in shares of Rio Tinto Group by 9.6% in the 3rd quarter. Armstrong Advisory Group Inc. now owns 1,808 shares of the mining company’s stock worth $129,000 after purchasing an additional 159 shares in the last quarter. Eagle Bluffs Wealth Management LLC increased its stake in Rio Tinto Group by 1.1% in the 2nd quarter. Eagle Bluffs Wealth Management LLC now owns 14,997 shares of the mining company’s stock valued at $989,000 after buying an additional 163 shares during the last quarter. Sound Income Strategies LLC lifted its position in shares of Rio Tinto Group by 70.9% during the 3rd quarter. Sound Income Strategies LLC now owns 417 shares of the mining company’s stock worth $30,000 after buying an additional 173 shares in the last quarter. Concurrent Investment Advisors LLC boosted its stake in shares of Rio Tinto Group by 4.3% in the 3rd quarter. Concurrent Investment Advisors LLC now owns 4,261 shares of the mining company’s stock worth $303,000 after buying an additional 175 shares during the last quarter. Finally, Fiduciary Financial Group LLC grew its holdings in shares of Rio Tinto Group by 3.7% in the third quarter. Fiduciary Financial Group LLC now owns 4,945 shares of the mining company’s stock valued at $330,000 after acquiring an additional 178 shares in the last quarter. 19.33% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

RIO has been the topic of a number of recent analyst reports. 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 report on Tuesday, November 12th. Macquarie reissued a “neutral” rating on shares of Rio Tinto Group in a research report on Wednesday, October 16th. Finally, Royal Bank of Canada raised shares of Rio Tinto Group to a “hold” rating in a report on Wednesday, July 31st. Four investment analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy”.

Rio Tinto Group Stock Performance

NYSE:RIO opened at $62.02 on Wednesday. Rio Tinto Group has a 1 year low of $59.35 and a 1 year high of $75.09. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.16 and a current ratio of 1.70. The stock’s fifty day moving average price is $65.55 and its two-hundred day moving average price is $65.68.

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.