Addenda Capital Inc. Sells 286 Shares of Rio Tinto Group (NYSE:RIO)

Addenda Capital Inc. reduced its holdings in Rio Tinto Group (NYSE:RIO) by 0.3% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 100,382 shares of the mining company’s stock after selling 286 shares during the quarter. Addenda Capital Inc.’s holdings in Rio Tinto Group were worth $5,903,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in RIO. Winch Advisory Services LLC bought a new position in Rio Tinto Group in the 3rd quarter worth about $26,000. FSC Wealth Advisors LLC bought a new position in shares of Rio Tinto Group during the 3rd quarter valued at about $28,000. Thurston Springer Miller Herd & Titak Inc. increased its position in shares of Rio Tinto Group by 63.9% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 500 shares of the mining company’s stock valued at $29,000 after purchasing an additional 195 shares during the last quarter. Sound Income Strategies LLC increased its position 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 valued at $30,000 after purchasing an additional 173 shares during the last quarter. Finally, Northwest Investment Counselors LLC bought a new position in shares of Rio Tinto Group during the 3rd quarter valued at about $38,000. 19.33% of the stock is currently owned by institutional investors.

Rio Tinto Group Stock Performance

RIO stock opened at $61.00 on Tuesday. Rio Tinto Group has a twelve month low of $57.85 and a twelve month high of $74.24. The company has a quick ratio of 1.16, a current ratio of 1.70 and a debt-to-equity ratio of 0.23. The business has a 50 day moving average of $60.98 and a 200 day moving average of $63.53.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. Jefferies Financial Group reduced their price objective on Rio Tinto Group from $83.00 to $73.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. StockNews.com upgraded Rio Tinto Group from a “buy” rating to a “strong-buy” rating in a research report on Friday. Macquarie restated a “neutral” rating on shares of Rio Tinto Group in a report on Wednesday, October 16th. Finally, Berenberg Bank upgraded 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, three have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, Rio Tinto Group has an average rating of “Moderate Buy” and an average price target 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.