Rio Tinto Group (NYSE:RIO) Position Decreased by Union Bancaire Privee UBP SA

Union Bancaire Privee UBP SA reduced its stake in shares of Rio Tinto Group (NYSE:RIO - Free Report) by 87.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,430 shares of the mining company's stock after selling 17,152 shares during the quarter. Union Bancaire Privee UBP SA's holdings in Rio Tinto Group were worth $138,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Empowered Funds LLC grew its position in shares of Rio Tinto Group by 39.9% during the fourth quarter. Empowered Funds LLC now owns 4,992 shares of the mining company's stock worth $294,000 after acquiring an additional 1,425 shares during the last quarter. Savant Capital LLC boosted its stake in Rio Tinto Group by 37.2% during the 4th quarter. Savant Capital LLC now owns 8,689 shares of the mining company's stock valued at $511,000 after purchasing an additional 2,354 shares during the period. Avidian Wealth Enterprises LLC grew its position in Rio Tinto Group by 8.5% in the 4th quarter. Avidian Wealth Enterprises LLC now owns 6,079 shares of the mining company's stock worth $357,000 after purchasing an additional 476 shares during the last quarter. Allspring Global Investments Holdings LLC increased its stake in shares of Rio Tinto Group by 118.4% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 99,853 shares of the mining company's stock valued at $5,868,000 after purchasing an additional 54,130 shares during the period. Finally, Vontobel Holding Ltd. increased its stake in shares of Rio Tinto Group by 3.4% in the fourth quarter. Vontobel Holding Ltd. now owns 9,212 shares of the mining company's stock valued at $542,000 after purchasing an additional 302 shares during the period. 19.33% of the stock is owned by institutional investors and hedge funds.

Rio Tinto Group Price Performance

NYSE RIO traded down $0.73 on Friday, reaching $57.96. 3,478,283 shares of the stock traded hands, compared to its average volume of 2,937,257. Rio Tinto Group has a 12 month low of $51.67 and a 12 month high of $72.08. The company has a market cap of $72.68 billion, a price-to-earnings ratio of 8.99, a P/E/G ratio of 0.42 and a beta of 0.68. The firm's fifty day simple moving average is $59.46 and its 200 day simple moving average is $60.59. The company has a quick ratio of 1.16, a current ratio of 1.63 and a debt-to-equity ratio of 0.23.

Analyst Ratings Changes

Several brokerages have recently issued reports on RIO. Barclays reiterated an "overweight" rating on shares of Rio Tinto Group in a research report on Wednesday, April 16th. Clarkson Capital upgraded Rio Tinto Group to a "strong-buy" rating in a research report on Friday, February 28th. JPMorgan Chase & Co. initiated coverage on Rio Tinto Group in a research note on Tuesday, March 18th. They issued an "overweight" rating for the company. Jefferies Financial Group reissued a "hold" rating on shares of Rio Tinto Group in a report on Tuesday, June 3rd. Finally, Wall Street Zen downgraded shares of Rio Tinto Group from a "strong-buy" rating to a "buy" rating in a report on Monday, April 28th. Four equities research analysts have rated the stock with a hold rating, five have issued a buy rating and three have given a strong buy rating to the company. According to MarketBeat.com, Rio Tinto Group presently has an average rating of "Moderate Buy" and a consensus target price of $73.00.

Rio Tinto Group Company Profile

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.