Cwm LLC Cuts Stock Position in Rio Tinto Group (NYSE:RIO)

Cwm LLC cut its holdings in Rio Tinto Group (NYSE:RIO) by 67.8% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 4,519 shares of the mining company’s stock after selling 9,496 shares during the quarter. Cwm LLC’s holdings in Rio Tinto Group were worth $288,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Wellington Management Group LLP grew its holdings in shares of Rio Tinto Group by 7.1% in the fourth quarter. Wellington Management Group LLP now owns 24,838,524 shares of the mining company’s stock valued at $1,849,476,000 after purchasing an additional 1,644,751 shares in the last quarter. Fisher Asset Management LLC grew its holdings in shares of Rio Tinto Group by 3.1% in the fourth quarter. Fisher Asset Management LLC now owns 16,045,541 shares of the mining company’s stock valued at $1,194,751,000 after purchasing an additional 475,329 shares in the last quarter. Morgan Stanley grew its holdings in shares of Rio Tinto Group by 2.7% in the third quarter. Morgan Stanley now owns 4,464,344 shares of the mining company’s stock valued at $284,111,000 after purchasing an additional 118,706 shares in the last quarter. Northern Trust Corp grew its holdings in shares of Rio Tinto Group by 0.9% in the third quarter. Northern Trust Corp now owns 1,893,222 shares of the mining company’s stock valued at $120,485,000 after purchasing an additional 17,401 shares in the last quarter. Finally, MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH grew its holdings in shares of Rio Tinto Group by 19.9% in the fourth quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 797,985 shares of the mining company’s stock valued at $59,418,000 after purchasing an additional 132,590 shares in the last quarter. 19.33% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts recently weighed in on RIO shares. Liberum Capital reaffirmed a “hold” rating on shares of Rio Tinto Group in a research note on Tuesday, March 5th. Citigroup lowered shares of Rio Tinto Group from a “buy” rating to a “neutral” rating in a research note on Monday, May 20th. Finally, StockNews.com raised shares of Rio Tinto Group from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, May 21st. Three research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $72.00.

Rio Tinto Group Price Performance

NYSE RIO opened at $66.40 on Friday. The company has a quick ratio of 1.17, a current ratio of 1.69 and a debt-to-equity ratio of 0.23. The company has a fifty day moving average of $68.84 and a two-hundred day moving average of $68.24. Rio Tinto Group has a 52 week low of $58.27 and a 52 week high of $75.09.

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.