Park National Corp OH Sells 596 Shares of Rio Tinto Group (NYSE:RIO)

Park National Corp OH cut its stake in shares of Rio Tinto Group (NYSE:RIO) by 12.4% in the 1st quarter, HoldingsChannel reports. The firm owned 4,229 shares of the mining company’s stock after selling 596 shares during the period. Park National Corp OH’s holdings in Rio Tinto Group were worth $270,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the stock. Confluence Investment Management LLC purchased a new position in shares of Rio Tinto Group during the first quarter worth approximately $1,050,000. HighPoint Advisor Group LLC purchased a new position in shares of Rio Tinto Group in the fourth quarter worth $238,000. Grayhawk Investment Strategies Inc. purchased a new position in shares of Rio Tinto Group in the fourth quarter worth $1,183,000. Sivia Capital Partners LLC purchased a new position in shares of Rio Tinto Group in the fourth quarter worth $266,000. Finally, ICA Group Wealth Management LLC purchased a new position in shares of Rio Tinto Group in the fourth quarter worth $65,000. 19.33% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

RIO has been the topic of a number of research analyst reports. Citigroup downgraded shares of Rio Tinto Group from a “buy” rating to a “neutral” rating in a research report on Monday, May 20th. Liberum Capital reissued a “hold” rating on shares of Rio Tinto Group in a research report on Tuesday, March 5th. Finally, StockNews.com raised shares of Rio Tinto Group from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, May 21st. Three equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $72.00.

Rio Tinto Group Trading Up 0.5 %

Shares of RIO stock traded up $0.32 during mid-day trading on Tuesday, reaching $66.31. 1,403,087 shares of the company’s stock traded hands, compared to its average volume of 2,791,151. Rio Tinto Group has a 12 month low of $58.27 and a 12 month high of $75.09. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.17 and a current ratio of 1.69. The company’s 50-day moving average price is $68.84 and its 200-day moving average price is $68.32.

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.