Cravens & Co Advisors LLC Sells 747 Shares of Rio Tinto Group (NYSE:RIO)

Cravens & Co Advisors LLC decreased its holdings in shares of Rio Tinto Group (NYSE:RIO) by 5.6% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 12,657 shares of the mining company’s stock after selling 747 shares during the period. Cravens & Co Advisors LLC’s holdings in Rio Tinto Group were worth $901,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in RIO. GHP Investment Advisors Inc. bought a new stake in shares of Rio Tinto Group during the 2nd quarter valued at about $26,000. Winch Advisory Services LLC purchased a new position in Rio Tinto Group in the 3rd quarter worth approximately $26,000. FSC Wealth Advisors LLC purchased a new stake in shares of Rio Tinto Group during the 3rd quarter valued at $28,000. Sound Income Strategies LLC lifted its holdings in shares of Rio Tinto Group by 70.9% during the 3rd quarter. Sound Income Strategies LLC now owns 417 shares of the mining company’s stock worth $30,000 after acquiring an additional 173 shares during the last quarter. Finally, Centerpoint Advisors LLC increased its stake in Rio Tinto Group by 110.0% in the second quarter. Centerpoint Advisors LLC now owns 525 shares of the mining company’s stock valued at $35,000 after acquiring an additional 275 shares during the last quarter. 19.33% of the stock is currently owned by hedge funds and other institutional investors.

Rio Tinto Group Stock Performance

Shares of NYSE:RIO opened at $62.02 on Wednesday. Rio Tinto Group has a 1 year low of $59.35 and a 1 year high of $75.09. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.16 and a current ratio of 1.70. The stock’s 50-day moving average is $65.55 and its 200 day moving average is $65.68.

Analyst Ratings Changes

RIO has been the topic of several recent research reports. Berenberg Bank upgraded Rio Tinto Group from a “hold” rating to a “buy” rating in a research report on Wednesday, October 2nd. Macquarie reiterated a “neutral” rating on shares of Rio Tinto Group in a research report on Wednesday, October 16th. StockNews.com cut Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a report on Tuesday, November 12th. Finally, Royal Bank of Canada upgraded Rio Tinto Group to a “hold” rating in a research report on Wednesday, July 31st. Four equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy”.

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.