Glen Eagle Advisors LLC Sells 1,424 Shares of Rio Tinto Group (NYSE:RIO)

Glen Eagle Advisors LLC cut its stake in Rio Tinto Group (NYSE:RIO) by 41.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,990 shares of the mining company’s stock after selling 1,424 shares during the period. Glen Eagle Advisors LLC’s holdings in Rio Tinto Group were worth $142,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of the stock. EP Wealth Advisors LLC raised its position in Rio Tinto Group by 26.7% in the 3rd quarter. EP Wealth Advisors LLC now owns 6,641 shares of the mining company’s stock worth $473,000 after purchasing an additional 1,401 shares during the last quarter. Insigneo Advisory Services LLC raised its position in shares of Rio Tinto Group by 103.7% during the third quarter. Insigneo Advisory Services LLC now owns 11,582 shares of the mining company’s stock worth $824,000 after acquiring an additional 5,896 shares during the last quarter. Polar Asset Management Partners Inc. acquired a new position in shares of Rio Tinto Group during the third quarter valued at $2,256,000. IHT Wealth Management LLC bought a new position in Rio Tinto Group in the third quarter valued at about $232,000. Finally, Hilltop Holdings Inc. increased its position in Rio Tinto Group by 11.2% in the third quarter. Hilltop Holdings Inc. now owns 4,146 shares of the mining company’s stock worth $295,000 after purchasing an additional 416 shares during the period. 19.33% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

RIO has been the topic of a number of research reports. Macquarie restated a “neutral” rating on shares of Rio Tinto Group in a research report on Wednesday, October 16th. StockNews.com cut shares of Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, November 12th. Finally, Berenberg Bank raised shares of Rio Tinto Group from a “hold” rating to a “buy” rating in a report on Wednesday, October 2nd. Four 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.com, the stock presently has a consensus rating of “Moderate Buy”.

Rio Tinto Group Stock Down 2.2 %

Shares of NYSE:RIO opened at $62.11 on Friday. The company has a 50 day moving average price of $64.95 and a two-hundred day moving average price of $65.23. 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 company has a market capitalization of $77.81 billion, a PE ratio of 9.04, a PEG ratio of 0.38 and a beta of 0.65. Rio Tinto Group has a 52 week low of $59.35 and a 52 week high of $75.09.

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.