Ritholtz Wealth Management Sells 16,214 Shares of Rio Tinto Group (NYSE:RIO)

Ritholtz Wealth Management trimmed its position in shares of Rio Tinto Group (NYSE:RIO - Free Report) by 21.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 58,918 shares of the mining company's stock after selling 16,214 shares during the period. Ritholtz Wealth Management's holdings in Rio Tinto Group were worth $3,540,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also bought and sold shares of the company. Fisher Asset Management LLC raised its stake in Rio Tinto Group by 0.4% in the 4th quarter. Fisher Asset Management LLC now owns 17,604,463 shares of the mining company's stock valued at $1,035,319,000 after acquiring an additional 76,368 shares during the period. Franklin Resources Inc. grew its stake in Rio Tinto Group by 1.4% in the 4th quarter. Franklin Resources Inc. now owns 5,115,476 shares of the mining company's stock valued at $300,841,000 after buying an additional 70,131 shares in the last quarter. FMR LLC raised its holdings in Rio Tinto Group by 24.6% during the 4th quarter. FMR LLC now owns 1,721,690 shares of the mining company's stock valued at $101,253,000 after acquiring an additional 339,924 shares during the period. Northern Trust Corp boosted its holdings in shares of Rio Tinto Group by 18.9% in the fourth quarter. Northern Trust Corp now owns 1,603,037 shares of the mining company's stock worth $94,275,000 after acquiring an additional 255,151 shares during the period. Finally, Deutsche Bank AG grew its position in shares of Rio Tinto Group by 143,872.8% in the fourth quarter. Deutsche Bank AG now owns 1,264,081 shares of the mining company's stock valued at $74,341,000 after purchasing an additional 1,263,203 shares in the last quarter. 19.33% of the stock is owned by hedge funds and other institutional investors.

Rio Tinto Group Trading Up 0.5%

Shares of NYSE:RIO traded up $0.30 on Monday, reaching $58.30. 3,408,689 shares of the company traded hands, compared to its average volume of 3,236,612. Rio Tinto Group has a 52 week low of $51.67 and a 52 week 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 50-day simple moving average is $59.46 and its 200 day simple moving average is $60.56. The stock has a market capitalization of $73.11 billion, a P/E ratio of 9.04, a price-to-earnings-growth ratio of 0.42 and a beta of 0.68.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Morgan Stanley lowered shares of Rio Tinto Group from an "overweight" rating to an "equal weight" rating in a research report on Wednesday, April 9th. Barclays restated an "overweight" rating on shares of Rio Tinto Group in a research report on Wednesday, April 16th. Jefferies Financial Group reiterated a "hold" rating on shares of Rio Tinto Group in a research report on Tuesday, June 3rd. Clarkson Capital upgraded Rio Tinto Group to a "strong-buy" rating in a research report on Friday, February 28th. Finally, Wall Street Zen downgraded Rio Tinto Group from a "strong-buy" rating to a "buy" rating in a research report on Monday, April 28th. Four analysts have rated the stock with a hold rating, five have issued a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat.com, Rio Tinto Group presently has a consensus rating of "Moderate Buy" and a consensus 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.