Valeo Financial Advisors LLC Cuts Stock Position in Rio Tinto Group (NYSE:RIO)

Valeo Financial Advisors LLC lowered its position in Rio Tinto Group (NYSE:RIO) by 23.5% during the fourth quarter, Holdings Channel reports. The institutional investor owned 4,038 shares of the mining company’s stock after selling 1,237 shares during the quarter. Valeo Financial Advisors LLC’s holdings in Rio Tinto Group were worth $237,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Winch Advisory Services LLC purchased a new stake in Rio Tinto Group during the 3rd quarter worth approximately $26,000. FSC Wealth Advisors LLC purchased a new stake in Rio Tinto Group during the 3rd quarter worth approximately $28,000. Thurston Springer Miller Herd & Titak Inc. grew its position in Rio Tinto Group by 63.9% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 500 shares of the mining company’s stock worth $29,000 after purchasing an additional 195 shares during the last quarter. Northwest Investment Counselors LLC purchased a new stake in Rio Tinto Group during the 3rd quarter worth approximately $38,000. Finally, Hara Capital LLC purchased a new stake in Rio Tinto Group during the 3rd quarter worth approximately $53,000. Hedge funds and other institutional investors own 19.33% of the company’s stock.

Rio Tinto Group Price Performance

RIO opened at $64.21 on Wednesday. The company has a current ratio of 1.70, a quick ratio of 1.16 and a debt-to-equity ratio of 0.23. The firm has a fifty day moving average price of $60.62 and a 200 day moving average price of $62.92. Rio Tinto Group has a 1 year low of $57.85 and a 1 year high of $74.24.

Analyst Upgrades and Downgrades

RIO has been the subject of several research reports. Jefferies Financial Group decreased their price objective on shares of Rio Tinto Group from $83.00 to $73.00 and set a “buy” rating for the company in a research note on Monday, January 6th. StockNews.com upgraded shares of Rio Tinto Group from a “buy” rating to a “strong-buy” rating in a research note on Friday, February 14th. Four analysts have rated the stock with a hold rating, three have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target 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.