Quantbot Technologies LP Decreases Stock Holdings in Rio Tinto Group (NYSE:RIO)

Quantbot Technologies LP lessened its stake in shares of Rio Tinto Group (NYSE:RIO) by 21.0% during the third quarter, HoldingsChannel.com reports. The fund owned 40,833 shares of the mining company’s stock after selling 10,846 shares during the quarter. Quantbot Technologies LP’s holdings in Rio Tinto Group were worth $2,906,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Bank of Montreal Can lifted its position in Rio Tinto Group by 237.0% during the second 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. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund bought a new position in shares of Rio Tinto Group during the 2nd quarter valued at $48,129,000. Fisher Asset Management LLC lifted its holdings in shares of Rio Tinto Group by 2.9% during the 3rd quarter. Fisher Asset Management LLC now owns 17,528,095 shares of the mining company’s stock valued at $1,247,475,000 after buying an additional 485,731 shares during the period. Mediolanum International Funds Ltd purchased a new position in shares of Rio Tinto Group in the 3rd quarter worth $33,590,000. Finally, Palliser Capital UK Ltd grew its holdings in shares of Rio Tinto Group by 690.6% in the second quarter. Palliser Capital UK Ltd now owns 499,675 shares of the mining company’s stock worth $32,944,000 after acquiring an additional 436,475 shares during the period. 19.33% of the stock is currently owned by institutional investors.

Rio Tinto Group Trading Up 0.5 %

NYSE RIO opened at $62.32 on Thursday. The stock’s 50-day moving average price is $65.54 and its 200-day moving average price is $65.66. 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 52 week low of $59.35 and a 52 week high of $75.09.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on RIO. Berenberg Bank raised Rio Tinto Group from a “hold” rating to a “buy” rating in a report on Wednesday, October 2nd. StockNews.com cut shares of Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, November 12th. Macquarie restated a “neutral” rating on shares of Rio Tinto Group in a research report on Wednesday, October 16th. Finally, Royal Bank of Canada raised shares of Rio Tinto Group to a “hold” rating in a report on Wednesday, July 31st. Four equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy”.

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.