Charles Schwab Investment Management Inc. Sells 468 Shares of Rio Tinto Group (NYSE:RIO)

Charles Schwab Investment Management Inc. cut its holdings in Rio Tinto Group (NYSE:RIO) by 0.7% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 63,709 shares of the mining company’s stock after selling 468 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Rio Tinto Group were worth $4,534,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Armstrong Advisory Group Inc. boosted its position in Rio Tinto Group by 9.6% in the 3rd quarter. Armstrong Advisory Group Inc. now owns 1,808 shares of the mining company’s stock valued at $129,000 after buying an additional 159 shares during the period. Eagle Bluffs Wealth Management LLC increased its stake in Rio Tinto Group by 1.1% during the 2nd quarter. Eagle Bluffs Wealth Management LLC now owns 14,997 shares of the mining company’s stock valued at $989,000 after purchasing an additional 163 shares in the last quarter. Sound Income Strategies LLC increased its stake in Rio Tinto Group by 70.9% during the 3rd quarter. Sound Income Strategies LLC now owns 417 shares of the mining company’s stock valued at $30,000 after purchasing an additional 173 shares in the last quarter. Concurrent Investment Advisors LLC increased its stake in Rio Tinto Group by 4.3% during the 3rd quarter. Concurrent Investment Advisors LLC now owns 4,261 shares of the mining company’s stock valued at $303,000 after purchasing an additional 175 shares in the last quarter. Finally, Fiduciary Financial Group LLC increased its stake in Rio Tinto Group by 3.7% during the 3rd quarter. Fiduciary Financial Group LLC now owns 4,945 shares of the mining company’s stock valued at $330,000 after purchasing an additional 178 shares in the last quarter. 19.33% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Macquarie restated a “neutral” rating on shares of Rio Tinto Group in a research note on Wednesday, October 16th. Berenberg Bank upgraded shares of Rio Tinto Group from a “hold” rating to a “buy” rating in a research note on Wednesday, October 2nd. Finally, StockNews.com lowered shares of Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, November 12th. Four equities research 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. Based on data from MarketBeat, Rio Tinto Group presently has a consensus rating of “Moderate Buy”.

Rio Tinto Group Price Performance

Shares of NYSE RIO opened at $62.20 on Friday. The company’s fifty day moving average price is $64.30 and its 200 day moving average price is $65.01. Rio Tinto Group has a 1 year low of $59.35 and a 1 year high of $75.09. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.70 and a quick ratio of 1.16.

Rio Tinto Group Company 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.