First City Capital Management Inc. Reduces Stake in Rio Tinto Group (NYSE:RIO)

First City Capital Management Inc. decreased its holdings in Rio Tinto Group (NYSE:RIO) by 9.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,598 shares of the mining company’s stock after selling 1,500 shares during the period. First City Capital Management Inc.’s holdings in Rio Tinto Group were worth $800,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. GAMMA Investing LLC raised its position in Rio Tinto Group by 12.2% during the fourth quarter. GAMMA Investing LLC now owns 1,861 shares of the mining company’s stock valued at $109,000 after purchasing an additional 203 shares in the last quarter. SPX Gestao de Recursos Ltda lifted its stake in shares of Rio Tinto Group by 1,773.2% in the 3rd quarter. SPX Gestao de Recursos Ltda now owns 426,922 shares of the mining company’s stock valued at $30,384,000 after acquiring an additional 404,131 shares during the last quarter. DGS Capital Management LLC grew its position in Rio Tinto Group by 22.2% during the 3rd quarter. DGS Capital Management LLC now owns 16,797 shares of the mining company’s stock worth $1,195,000 after acquiring an additional 3,057 shares during the last quarter. Tidal Investments LLC boosted its stake in shares of Rio Tinto Group by 16.2% during the third quarter. Tidal Investments LLC now owns 122,623 shares of the mining company’s stock valued at $8,727,000 after purchasing an additional 17,052 shares during the period. Finally, Wilmington Savings Fund Society FSB purchased a new position in shares of Rio Tinto Group during the 3rd quarter worth approximately $218,000. Hedge funds and other institutional investors own 19.33% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on RIO shares. StockNews.com lowered Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, November 12th. Macquarie restated a “neutral” rating on shares of Rio Tinto Group in a report on Wednesday, October 16th. Finally, Berenberg Bank raised shares of Rio Tinto Group from a “hold” rating to a “buy” rating in a research report on Wednesday, October 2nd. Four investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy”.

Rio Tinto Group Stock Down 0.2 %

Shares of NYSE RIO traded down $0.10 during trading on Friday, reaching $58.67. The company had a trading volume of 1,431,065 shares, compared to its average volume of 1,590,427. Rio Tinto Group has a 12-month low of $58.19 and a 12-month high of $74.24. The company has a quick ratio of 1.16, a current ratio of 1.70 and a debt-to-equity ratio of 0.23. The business’s 50-day moving average is $62.37 and its 200 day moving average is $64.11. The stock has a market cap of $73.51 billion, a PE ratio of 8.52, a P/E/G ratio of 0.38 and a beta of 0.65.

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.