Gateway Investment Advisers LLC Reduces Stock Holdings in Rio Tinto Group (NYSE:RIO)

Gateway Investment Advisers LLC cut its holdings in shares of Rio Tinto Group (NYSE:RIO) by 29.2% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 20,877 shares of the mining company’s stock after selling 8,614 shares during the quarter. Gateway Investment Advisers LLC’s holdings in Rio Tinto Group were worth $1,254,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Rakuten Securities Inc. increased its holdings in Rio Tinto Group by 74.8% during the 4th quarter. Rakuten Securities Inc. now owns 493 shares of the mining company’s stock worth $29,000 after purchasing an additional 211 shares during the last quarter. Mechanics Financial Corp purchased a new stake in Rio Tinto Group during the 4th quarter worth approximately $29,000. Golden State Wealth Management LLC purchased a new stake in Rio Tinto Group during the 4th quarter worth approximately $47,000. Ameriflex Group Inc. purchased a new stake in Rio Tinto Group during the 4th quarter worth approximately $47,000. Finally, Newbridge Financial Services Group Inc. purchased a new stake in Rio Tinto Group during the 4th quarter worth approximately $59,000. 19.33% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on RIO shares. Morgan Stanley downgraded Rio Tinto Group from an “overweight” rating to an “equal weight” rating in a report on Wednesday, April 9th. DZ Bank upgraded Rio Tinto Group from a “hold” rating to a “strong-buy” rating in a report on Thursday, March 27th. Jefferies Financial Group reiterated a “hold” rating on shares of Rio Tinto Group in a research report on Tuesday, June 3rd. Wall Street Zen lowered Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a research report on Monday, April 28th. Finally, Barclays reiterated an “overweight” rating on shares of Rio Tinto Group in a research report on Wednesday, April 16th. Four investment analysts have rated the stock with a hold rating, five have given a buy rating and three have given a strong buy rating to the company’s stock. According to MarketBeat, Rio Tinto Group has a consensus rating of “Moderate Buy” and a consensus target price of $73.00.

Rio Tinto Group Price Performance

Shares of RIO opened at $59.03 on Monday. The firm has a market cap of $74.03 billion, a price-to-earnings ratio of 9.15, a PEG ratio of 0.42 and a beta of 0.68. The stock has a 50 day moving average of $59.17 and a 200-day moving average of $60.69. The company has a current ratio of 1.63, a quick ratio of 1.16 and a debt-to-equity ratio of 0.23. Rio Tinto Group has a 52 week low of $51.67 and a 52 week high of $72.08.

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.