Envestnet Asset Management Inc. Reduces Holdings in Rio Tinto Group (NYSE:RIO) – Analyst Upgrades and Downgrades – Stock Performance – About Rio Tinto Group – Featured Articles
Are you interested in investing in mining companies? If so, you may want to take a closer look at Rio Tinto Group (NYSE:RIO). Envestnet Asset Management Inc. recently made changes to their holdings in Rio Tinto Group, selling off a portion of their shares during the fourth quarter. This move was part of a larger trend among institutional investors and hedge funds, with several others also adjusting their positions in the company.
One notable change came from International Assets Investment Management LLC, who acquired a new position in Rio Tinto Group during the same quarter. Additionally, Sei Investments Co., Morgan Stanley, Kingswood Wealth Advisors LLC, and Campbell & CO Investment Adviser LLC all made adjustments to their holdings as well. In total, 19.33% of the stock is now owned by hedge funds and other institutional investors.
Analysts have also been weighing in on Rio Tinto Group, with varying opinions on the stock. While Liberum Capital reissued a “hold” rating, StockNews.com upgraded the stock to a “strong-buy” rating. Citigroup, on the other hand, downgraded Rio Tinto Group to a “neutral” rating. Overall, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $72.00.
Despite these changes, Rio Tinto Group’s stock saw a slight increase of 0.3% recently. With a 1 year low of $58.27 and a high of $75.09, the company operates in the iron ore, aluminum, copper, and minerals segments on a global scale. If you’re interested in learning more about Rio Tinto Group and staying up to date on the latest news and analyst ratings, be sure to visit HoldingsChannel.com for the most recent 13F filings and insider trades.
In conclusion, Rio Tinto Group presents an interesting opportunity for investors looking to diversify their portfolio with exposure to the mining industry. Keep an eye on this stock as it continues to make waves in the market.
