Rio Tinto Group (NYSE:RIO) Shares Sold by Gateway Investment Advisers LLC

Gateway Investment Advisers LLC trimmed its position in Rio Tinto Group (NYSE:RIO - Free Report) by 29.2% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 20,877 shares of the mining company's stock after selling 8,614 shares during the quarter. Gateway Investment Advisers LLC's holdings in Rio Tinto Group were worth $1,254,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also made changes to their positions in the company. XTX Topco Ltd bought a new stake in shares of Rio Tinto Group in the 4th quarter valued at approximately $1,241,000. Rossby Financial LCC bought a new stake in shares of Rio Tinto Group in the 4th quarter valued at approximately $360,000. Schroder Investment Management Group increased its holdings in shares of Rio Tinto Group by 3.2% in the 4th quarter. Schroder Investment Management Group now owns 32,258 shares of the mining company's stock valued at $1,890,000 after acquiring an additional 1,009 shares during the last quarter. Norges Bank bought a new stake in shares of Rio Tinto Group in the 4th quarter valued at approximately $432,000. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Rio Tinto Group by 28.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 81,888 shares of the mining company's stock valued at $4,816,000 after acquiring an additional 18,179 shares during the last quarter. 19.33% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

RIO has been the subject of a number of recent research reports. Clarkson Capital upgraded Rio Tinto Group to a "strong-buy" rating in a research note on Friday, February 28th. Morgan Stanley downgraded Rio Tinto Group from an "overweight" rating to an "equal weight" rating in a research note on Wednesday, April 9th. JPMorgan Chase & Co. initiated coverage on Rio Tinto Group in a research note on Tuesday, March 18th. They set an "overweight" rating for the company. Barclays restated an "overweight" rating on shares of Rio Tinto Group in a research note on Wednesday, April 16th. Finally, Wall Street Zen downgraded Rio Tinto Group from a "strong-buy" rating to a "buy" rating in a research note on Monday, April 28th. Four equities research analysts have rated the stock with a hold rating, five have given a buy rating and three have issued a strong buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $73.00.

Rio Tinto Group Stock Performance

Shares of NYSE:RIO traded down $0.63 on Wednesday, hitting $58.84. The company's stock had a trading volume of 2,684,766 shares, compared to its average volume of 2,929,881. Rio Tinto Group has a 12 month low of $51.67 and a 12 month high of $72.08. The company has a market capitalization of $73.79 billion, a price-to-earnings ratio of 9.12, a price-to-earnings-growth ratio of 0.42 and a beta of 0.68. The stock's 50-day moving average is $59.26 and its two-hundred day moving average is $60.64. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.16 and a current ratio of 1.63.

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.