UMB Bank n.a. Sells 786 Shares of Rio Tinto Group (NYSE:RIO)

UMB Bank n.a. trimmed its position in Rio Tinto Group (NYSE:RIO) by 26.9% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,134 shares of the mining company’s stock after selling 786 shares during the period. UMB Bank n.a.’s holdings in Rio Tinto Group were worth $128,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Deutsche Bank AG lifted its holdings in shares of Rio Tinto Group by 143,872.8% in the 4th quarter. Deutsche Bank AG now owns 1,264,081 shares of the mining company’s stock worth $74,341,000 after purchasing an additional 1,263,203 shares in the last quarter. Dynamo Internacional Gestao DE Recursos LTDA. raised its holdings in Rio Tinto Group by 119.2% during the fourth quarter. Dynamo Internacional Gestao DE Recursos LTDA. now owns 129,804 shares of the mining company’s stock worth $2,423,000 after buying an additional 807,610 shares during the last quarter. Paloma Partners Management Co bought a new position in shares of Rio Tinto Group in the fourth quarter valued at $40,032,000. Raymond James Financial Inc. bought a new position in Rio Tinto Group in the 4th quarter valued at about $29,606,000. Finally, Ameriprise Financial Inc. boosted its stake in Rio Tinto Group by 169.4% during the 4th quarter. Ameriprise Financial Inc. now owns 619,494 shares of the mining company’s stock valued at $36,428,000 after purchasing an additional 389,531 shares during the last quarter. Institutional investors and hedge funds own 19.33% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on RIO shares. Wall Street Zen downgraded Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a research note on Monday, April 28th. DZ Bank raised shares of Rio Tinto Group from a “hold” rating to a “strong-buy” rating in a report on Thursday, March 27th. Morgan Stanley lowered shares of Rio Tinto Group from an “overweight” rating to an “equal weight” rating in a research note on Wednesday, April 9th. Barclays restated an “overweight” rating on shares of Rio Tinto Group in a report on Wednesday, April 16th. Finally, JPMorgan Chase & Co. started coverage on Rio Tinto Group in a report on Tuesday, March 18th. They issued an “overweight” rating for the company. Four equities research analysts have rated the stock with a hold rating, five have given a buy rating and three have assigned a strong buy rating to the company’s stock. According to MarketBeat, Rio Tinto Group currently has an average rating of “Moderate Buy” and an average price target of $73.00.

Rio Tinto Group Trading Down 1.1%

Shares of RIO stock opened at $58.84 on Thursday. The company has a quick ratio of 1.16, a current ratio of 1.63 and a debt-to-equity ratio of 0.23. The firm has a market cap of $73.79 billion, a P/E ratio of 9.12, a PEG ratio of 0.42 and a beta of 0.68. The company has a 50 day moving average of $59.26 and a 200-day moving average of $60.64. Rio Tinto Group has a 12-month low of $51.67 and a 12-month high of $72.08.

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.