First Hawaiian Bank Sells 970 Shares of Rio Tinto Group (NYSE:RIO)

First Hawaiian Bank lessened its stake in Rio Tinto Group (NYSE:RIO) by 8.5% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,486 shares of the mining company’s stock after selling 970 shares during the period. First Hawaiian Bank’s holdings in Rio Tinto Group were worth $668,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the company. Wellington Management Group LLP lifted its stake in shares of Rio Tinto Group by 41.0% during the third quarter. Wellington Management Group LLP now owns 23,193,773 shares of the mining company’s stock valued at $1,476,052,000 after acquiring an additional 6,748,799 shares during the period. SPX Gestao de Recursos Ltda boosted its stake in shares of Rio Tinto Group by 560.8% in the 4th quarter. SPX Gestao de Recursos Ltda now owns 791,933 shares of the mining company’s stock valued at $58,967,000 after purchasing an additional 672,095 shares during the last quarter. Fisher Asset Management LLC grew its position in shares of Rio Tinto Group by 3.1% during the 4th quarter. Fisher Asset Management LLC now owns 16,045,541 shares of the mining company’s stock worth $1,194,751,000 after buying an additional 475,329 shares during the period. Van ECK Associates Corp lifted its holdings in Rio Tinto Group by 191.3% in the fourth quarter. Van ECK Associates Corp now owns 715,829 shares of the mining company’s stock valued at $53,301,000 after buying an additional 470,073 shares during the period. Finally, Qube Research & Technologies Ltd lifted its holdings in Rio Tinto Group by 160.2% in the third quarter. Qube Research & Technologies Ltd now owns 581,714 shares of the mining company’s stock valued at $37,020,000 after buying an additional 358,121 shares during the period. Institutional investors and hedge funds own 19.33% of the company’s stock.

Analysts Set New Price Targets

RIO has been the subject of several recent research reports. Liberum Capital reiterated a “hold” rating on shares of Rio Tinto Group in a research report on Tuesday, March 5th. Citigroup downgraded Rio Tinto Group from a “buy” rating to a “neutral” rating in a report on Monday, May 20th. Finally, StockNews.com upgraded Rio Tinto Group from a “buy” rating to a “strong-buy” rating in a report on Tuesday, May 21st. Three analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Rio Tinto Group presently has an average rating of “Moderate Buy” and a consensus price target of $72.00.

Rio Tinto Group Trading Down 0.7 %

Shares of RIO stock opened at $66.43 on Friday. 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 current ratio of 1.69 and a quick ratio of 1.17. The firm has a fifty day moving average of $68.84 and a 200-day moving average of $68.24.

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.