GPS Wealth Strategies Group LLC Cuts Stock Holdings in Rio Tinto Group (NYSE:RIO)

GPS Wealth Strategies Group LLC trimmed its holdings in shares of Rio Tinto Group (NYSE:RIO) by 33.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,236 shares of the mining company’s stock after selling 622 shares during the period. GPS Wealth Strategies Group LLC’s holdings in Rio Tinto Group were worth $73,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of RIO. Winch Advisory Services LLC acquired a new stake in shares of Rio Tinto Group during the 3rd quarter valued at approximately $26,000. FSC Wealth Advisors LLC acquired a new stake in shares of Rio Tinto Group during the 3rd quarter worth about $28,000. Thurston Springer Miller Herd & Titak Inc. boosted its stake 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 worth $29,000 after purchasing an additional 195 shares during the last quarter. Sound Income Strategies LLC raised its position in shares of Rio Tinto Group by 70.9% in the third quarter. Sound Income Strategies LLC now owns 417 shares of the mining company’s stock valued at $30,000 after buying an additional 173 shares during the last quarter. Finally, Northwest Investment Counselors LLC purchased a new position in shares of Rio Tinto Group during the third quarter valued at approximately $38,000. 19.33% of the stock is owned by institutional investors and hedge funds.

Rio Tinto Group Price Performance

Shares of Rio Tinto Group stock opened at $59.85 on Tuesday. The company has a fifty day moving average price of $60.83 and a 200 day moving average price of $63.08. The company has a quick ratio of 1.16, a current ratio of 1.70 and a debt-to-equity ratio of 0.23. Rio Tinto Group has a twelve month low of $57.85 and a twelve month high of $74.24.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on RIO shares. Jefferies Financial Group decreased their price objective on Rio Tinto Group from $83.00 to $73.00 and set a “buy” rating on the stock in a report on Monday, January 6th. Macquarie reaffirmed a “neutral” rating on shares of Rio Tinto Group in a research note on Wednesday, October 16th. Finally, StockNews.com downgraded Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a report on Saturday, January 25th. Four research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $73.00.

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.