Eagle Bay Advisors LLC Has $90,000 Position in Rio Tinto Group (NYSE:RIO)

Eagle Bay Advisors LLC lessened its holdings in shares of Rio Tinto Group (NYSE:RIO) by 30.4% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,524 shares of the mining company’s stock after selling 666 shares during the quarter. Eagle Bay Advisors LLC’s holdings in Rio Tinto Group were worth $90,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the business. Winch Advisory Services LLC acquired a new position in Rio Tinto Group during the third quarter worth $26,000. GHP Investment Advisors Inc. bought a new stake in shares of Rio Tinto Group during the 2nd quarter worth about $26,000. FSC Wealth Advisors LLC acquired a new position in shares of Rio Tinto Group during the 3rd quarter valued at about $28,000. Sound Income Strategies LLC raised its stake in shares of Rio Tinto Group by 70.9% in the 3rd quarter. Sound Income Strategies LLC now owns 417 shares of the mining company’s stock valued at $30,000 after acquiring an additional 173 shares in the last quarter. Finally, Northwest Investment Counselors LLC acquired a new stake in Rio Tinto Group in the 3rd quarter worth approximately $38,000. 19.33% of the stock is owned by institutional investors.

Rio Tinto Group Price Performance

Shares of Rio Tinto Group stock opened at $59.56 on Tuesday. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.70 and a quick ratio of 1.16. The company has a market cap of $74.62 billion, a PE ratio of 8.64, a price-to-earnings-growth ratio of 0.38 and a beta of 0.66. The firm has a fifty day moving average price of $61.40 and a two-hundred day moving average price of $63.70. Rio Tinto Group has a fifty-two week low of $57.85 and a fifty-two week high of $74.24.

Analysts Set New Price Targets

Several equities analysts have commented on RIO shares. StockNews.com lowered shares of Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, November 12th. Berenberg Bank upgraded shares of Rio Tinto Group from a “hold” rating to a “buy” rating in a report on Wednesday, October 2nd. Macquarie restated a “neutral” rating on shares of Rio Tinto Group in a report on Wednesday, October 16th. Finally, Jefferies Financial Group dropped their price objective on Rio Tinto Group from $83.00 to $73.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. Four 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 stock. According to data from MarketBeat, Rio Tinto Group has a consensus rating of “Moderate Buy” and an average 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.