Capital Investment Advisors LLC Decreases Stock Position in Rio Tinto Group (NYSE:RIO)

Capital Investment Advisors LLC lessened its stake in shares of Rio Tinto Group (NYSE:RIO - Free Report) by 15.8% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 81,636 shares of the mining company's stock after selling 15,366 shares during the period. Capital Investment Advisors LLC's holdings in Rio Tinto Group were worth $4,905,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of RIO. Rakuten Securities Inc. raised its holdings in Rio Tinto Group by 74.8% during the 4th quarter. Rakuten Securities Inc. now owns 493 shares of the mining company's stock valued at $29,000 after buying an additional 211 shares during the period. Mechanics Financial Corp bought a new position in Rio Tinto Group in the 4th quarter valued at $29,000. Golden State Wealth Management LLC bought a new position in Rio Tinto Group in the 4th quarter valued at $47,000. Ameriflex Group Inc. bought a new position in Rio Tinto Group in the 4th quarter valued at $47,000. Finally, Newbridge Financial Services Group Inc. bought a new position in Rio Tinto Group in the 4th quarter valued at $59,000. Hedge funds and other institutional investors own 19.33% of the company's stock.

Rio Tinto Group Price Performance

RIO opened at $59.03 on Monday. Rio Tinto Group has a 12-month low of $51.67 and a 12-month high of $72.08. The company has a current ratio of 1.63, a quick ratio of 1.16 and a debt-to-equity ratio of 0.23. The business's fifty day simple moving average is $59.17 and its 200-day simple moving average is $60.69. The company has a market capitalization of $74.03 billion, a price-to-earnings ratio of 9.15, a PEG ratio of 0.42 and a beta of 0.68.

Analysts Set New Price Targets

Several brokerages have commented on RIO. Barclays reaffirmed an "overweight" rating on shares of Rio Tinto Group in a research report on Wednesday, April 16th. Morgan Stanley downgraded Rio Tinto Group from an "overweight" rating to an "equal weight" rating in a research report on Wednesday, April 9th. DZ Bank raised Rio Tinto Group from a "hold" rating to a "strong-buy" rating in a research report on Thursday, March 27th. Wall Street Zen downgraded Rio Tinto Group from a "strong-buy" rating to a "buy" rating in a research report on Monday, April 28th. Finally, Clarkson Capital raised Rio Tinto Group to a "strong-buy" rating in a research report on Friday, February 28th. Four equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat, Rio Tinto Group has a consensus rating of "Moderate Buy" and an average target price 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.

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