Rio Tinto Group (NYSE:RIO) Shares Sold by Bell Bank

Bell Bank cut its stake in Rio Tinto Group (NYSE:RIO) by 14.3% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 120,063 shares of the mining company’s stock after selling 20,081 shares during the quarter. Rio Tinto Group makes up approximately 1.0% of Bell Bank’s investment portfolio, making the stock its 21st largest position. Bell Bank’s holdings in Rio Tinto Group were worth $8,545,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Bank of Montreal Can lifted its stake in shares of Rio Tinto Group by 237.0% in the 2nd quarter. Bank of Montreal Can now owns 2,472,471 shares of the mining company’s stock valued at $164,493,000 after purchasing an additional 1,738,752 shares during the period. Natixis Advisors LLC raised its position in shares of Rio Tinto Group by 8.7% in the second quarter. Natixis Advisors LLC now owns 695,731 shares of the mining company’s stock worth $45,870,000 after acquiring an additional 55,967 shares during the period. Philip James Wealth Mangement LLC purchased a new stake in shares of Rio Tinto Group during the 3rd quarter worth about $1,345,000. First City Capital Management Inc. grew its position in shares of Rio Tinto Group by 118.5% during the 2nd quarter. First City Capital Management Inc. now owns 15,178 shares of the mining company’s stock valued at $1,001,000 after acquiring an additional 8,230 shares during the period. Finally, QRG Capital Management Inc. increased its stake in shares of Rio Tinto Group by 38.1% in the 2nd quarter. QRG Capital Management Inc. now owns 95,497 shares of the mining company’s stock valued at $6,296,000 after purchasing an additional 26,329 shares in the last quarter. Hedge funds and other institutional investors own 19.33% of the company’s stock.

Analyst Upgrades and Downgrades

RIO has been the topic of several research analyst reports. Berenberg Bank raised Rio Tinto Group from a “hold” rating to a “buy” rating in a report on Wednesday, October 2nd. Macquarie reissued a “neutral” rating on shares of Rio Tinto Group in a research note on Wednesday, October 16th. StockNews.com cut shares of Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a research report on Tuesday. HSBC raised shares of Rio Tinto Group from a “hold” rating to a “buy” rating in a report on Tuesday, July 23rd. Finally, Hsbc Global Res upgraded shares of Rio Tinto Group to a “strong-buy” rating in a research report on Tuesday, July 23rd. Four investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy”.

Rio Tinto Group Stock Down 0.9 %

NYSE RIO opened at $60.62 on Thursday. Rio Tinto Group has a one year low of $59.35 and a one year high of $75.09. 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 business has a fifty day moving average price of $65.41 and a 200 day moving average price of $66.19.

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.