Northwest Bancshares Inc. bought a new position in shares of Rio Tinto Group (NYSE:RIO - Free Report) during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund bought 20,238 shares of the mining company's stock, valued at approximately $1,440,000.
Other institutional investors and hedge funds have also modified their holdings of the company. Bank of Montreal Can lifted its position in shares of 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 worth $164,493,000 after purchasing an additional 1,738,752 shares during the last quarter. Earnest Partners LLC boosted its stake in shares of Rio Tinto Group by 1.4% during the 1st quarter. Earnest Partners LLC now owns 1,395,961 shares of the mining company's stock valued at $88,979,000 after buying an additional 19,334 shares during the period. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH lifted its stake in shares of Rio Tinto Group by 9.8% in the 3rd quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 932,151 shares of the mining company's stock valued at $66,341,000 after purchasing an additional 83,569 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in Rio Tinto Group by 78.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 858,050 shares of the mining company's stock worth $56,565,000 after acquiring an additional 376,778 shares during the period. Finally, United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund acquired a new position in Rio Tinto Group in the second quarter valued at about $48,129,000. Institutional investors and hedge funds own 19.33% of the company's stock.
Wall Street Analysts Forecast Growth
Several equities research analysts have commented on RIO shares. HSBC raised shares of Rio Tinto Group from a "hold" rating to a "buy" rating in a research note on Tuesday, July 23rd. StockNews.com lowered shares of Rio Tinto Group from a "strong-buy" rating to a "buy" rating in a report on Tuesday, November 12th. Macquarie reaffirmed a "neutral" rating on shares of Rio Tinto Group in a research note on Wednesday, October 16th. Hsbc Global Res upgraded shares of Rio Tinto Group to a "strong-buy" rating in a report on Tuesday, July 23rd. Finally, Berenberg Bank upgraded shares of Rio Tinto Group from a "hold" rating to a "buy" rating in a research report on Wednesday, October 2nd. Four investment analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Rio Tinto Group presently has a consensus rating of "Moderate Buy".
Get Our Latest Stock Analysis on RIO
Rio Tinto Group Stock Down 0.1 %
Shares of NYSE:RIO traded down $0.05 during mid-day trading on Wednesday, reaching $62.38. 818,520 shares of the company traded hands, compared to its average volume of 2,751,234. Rio Tinto Group has a 52 week low of $59.35 and a 52 week high of $75.09. The company has a current ratio of 1.70, a quick ratio of 1.16 and a debt-to-equity ratio of 0.23. The company's 50 day moving average price is $65.54 and its 200-day moving average price is $65.94.
About Rio Tinto Group
(
Free Report)
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.
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