MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH Trims Position in Rio Tinto Group (NYSE:RIO)

MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH lowered its holdings in Rio Tinto Group (NYSE:RIO) by 22.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 721,694 shares of the mining company’s stock after selling 210,457 shares during the quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH owned 0.06% of Rio Tinto Group worth $42,284,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in RIO. Winch Advisory Services LLC acquired a new position in shares of Rio Tinto Group in the 3rd quarter valued at $26,000. FSC Wealth Advisors LLC purchased a new position in Rio Tinto Group in the third quarter valued at $28,000. Thurston Springer Miller Herd & Titak Inc. raised its position in shares of Rio Tinto Group by 63.9% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 500 shares of the mining company’s stock worth $29,000 after acquiring an additional 195 shares during the period. Sound Income Strategies LLC boosted its stake 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 acquiring an additional 173 shares in the last quarter. Finally, Northwest Investment Counselors LLC purchased a new stake in shares of Rio Tinto Group during the 3rd quarter worth about $38,000. 19.33% of the stock is currently owned by institutional investors and hedge funds.

Rio Tinto Group Trading Up 0.7 %

NYSE RIO opened at $61.56 on Friday. 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 50 day simple moving average is $60.97 and its 200-day simple moving average is $63.42. Rio Tinto Group has a 1-year low of $57.85 and a 1-year high of $74.24.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on RIO. Jefferies Financial Group reduced their price target on Rio Tinto Group from $83.00 to $73.00 and set a “buy” rating for the company in a report on Monday, January 6th. StockNews.com upgraded Rio Tinto Group from a “buy” rating to a “strong-buy” rating in a research report on Friday, January 17th. Macquarie reiterated a “neutral” rating on shares of Rio Tinto Group in a research report on Wednesday, October 16th. Finally, Berenberg Bank raised shares of Rio Tinto Group from a “hold” rating to a “buy” rating in a report on Wednesday, October 2nd. Four research analysts have rated the stock with a hold rating, three have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $73.00.

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.