United Capital Financial Advisers LLC Has $7.94 Million Position in Rio Tinto Group (NYSE:RIO)

United Capital Financial Advisers LLC cut its position in Rio Tinto Group (NYSE:RIOGet Rating) by 3.6% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 130,084 shares of the mining company’s stock after selling 4,868 shares during the quarter. United Capital Financial Advisers LLC’s holdings in Rio Tinto Group were worth $7,935,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Bank of New Hampshire raised its position in shares of Rio Tinto Group by 239.4% in the 2nd quarter. Bank of New Hampshire now owns 638 shares of the mining company’s stock valued at $39,000 after buying an additional 450 shares in the last quarter. ACG Wealth acquired a new position in Rio Tinto Group during the 2nd quarter worth approximately $67,000. Checchi Capital Advisers LLC increased its position in Rio Tinto Group by 7.0% during the 1st quarter. Checchi Capital Advisers LLC now owns 9,462 shares of the mining company’s stock worth $761,000 after purchasing an additional 623 shares in the last quarter. Buckingham Strategic Wealth LLC increased its position in Rio Tinto Group by 4.1% during the 1st quarter. Buckingham Strategic Wealth LLC now owns 5,717 shares of the mining company’s stock worth $460,000 after purchasing an additional 225 shares in the last quarter. Finally, American Century Companies Inc. increased its position in Rio Tinto Group by 15.5% during the 1st quarter. American Century Companies Inc. now owns 75,133 shares of the mining company’s stock worth $6,041,000 after purchasing an additional 10,106 shares in the last quarter. 10.05% of the stock is currently owned by institutional investors and hedge funds.

Rio Tinto Group Stock Up 1.4 %

RIO opened at $66.14 on Thursday. Rio Tinto Group has a fifty-two week low of $50.92 and a fifty-two week high of $84.69. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.79 and a quick ratio of 1.34. The company’s 50 day moving average price is $56.99 and its two-hundred day moving average price is $60.72.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on RIO. Macquarie cut shares of Rio Tinto Group from an “outperform” rating to a “neutral” rating in a research report on Tuesday, August 23rd. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Rio Tinto Group from GBX 5,700 ($67.40) to GBX 5,800 ($68.58) in a research report on Wednesday. Three analysts have rated the stock with a sell rating, six have given a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, Rio Tinto Group currently has an average rating of “Hold” and an average price target of $2,935.00.

About Rio Tinto Group

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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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