Bell Bank Sells 20,081 Shares of Rio Tinto Group (NYSE:RIO)

Bell Bank reduced its position in shares of Rio Tinto Group (NYSE:RIO - Free Report) by 14.3% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 120,063 shares of the mining company's stock after selling 20,081 shares during the quarter. Rio Tinto Group makes up about 1.0% of Bell Bank's holdings, making the stock its 21st biggest holding. Bell Bank's holdings in Rio Tinto Group were worth $8,545,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in RIO. Bank of Montreal Can grew its position 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 worth $164,493,000 after buying an additional 1,738,752 shares during the last quarter. Natixis Advisors LLC boosted its holdings in Rio Tinto Group by 8.7% in the second quarter. Natixis Advisors LLC now owns 695,731 shares of the mining company's stock valued at $45,870,000 after acquiring an additional 55,967 shares in the last quarter. Philip James Wealth Mangement LLC purchased a new position in Rio Tinto Group during the 3rd quarter valued at $1,345,000. First City Capital Management Inc. raised its holdings in Rio Tinto Group by 118.5% in the 2nd quarter. First City Capital Management Inc. now owns 15,178 shares of the mining company's stock worth $1,001,000 after purchasing an additional 8,230 shares in the last quarter. Finally, QRG Capital Management Inc. lifted its position 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 worth $6,296,000 after purchasing an additional 26,329 shares during the period. Hedge funds and other institutional investors own 19.33% of the company's stock.

Rio Tinto Group Stock Down 0.3 %

Shares of RIO traded down $0.20 during trading hours on Thursday, hitting $60.42. The company had a trading volume of 2,432,310 shares, compared to its average volume of 2,760,285. The stock has a market capitalization of $75.69 billion, a price-to-earnings ratio of 8.86, a P/E/G ratio of 0.36 and a beta of 0.67. The firm has a fifty day moving average price of $65.42 and a 200-day moving average price of $66.15. Rio Tinto Group has a 52-week low of $59.35 and a 52-week high of $75.09. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.16 and a current ratio of 1.70.

Wall Street Analyst Weigh In

RIO has been the subject of several research reports. Hsbc Global Res raised Rio Tinto Group to a "strong-buy" rating in a research report on Tuesday, July 23rd. Royal Bank of Canada raised Rio Tinto Group to a "hold" rating in a research report on Wednesday, July 31st. StockNews.com downgraded shares of Rio Tinto Group from a "strong-buy" rating to a "buy" rating in a research report on Tuesday. HSBC upgraded shares of Rio Tinto Group from a "hold" rating to a "buy" rating in a research note on Tuesday, July 23rd. Finally, Berenberg Bank upgraded shares of Rio Tinto Group from a "hold" rating to a "buy" rating in a report on Wednesday, October 2nd. Four 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 stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy".

Rio Tinto Group 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.