Chartwell Investment Partners LLC Makes New $1.46 Million Investment in Rio Tinto Group (NYSE:RIO)

Chartwell Investment Partners LLC bought a new position in Rio Tinto Group (NYSE:RIO - Free Report) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 20,500 shares of the mining company's stock, valued at approximately $1,459,000.

Several other hedge funds also recently modified their holdings of RIO. Envestnet Portfolio Solutions Inc. raised its stake in shares of Rio Tinto Group by 4.3% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 15,648 shares of the mining company's stock valued at $997,000 after acquiring an additional 642 shares in the last quarter. SG Americas Securities LLC raised its position in shares of Rio Tinto Group by 65.2% in the first quarter. SG Americas Securities LLC now owns 16,416 shares of the mining company's stock valued at $1,046,000 after purchasing an additional 6,480 shares during the period. Russell Investments Group Ltd. lifted its stake in shares of Rio Tinto Group by 0.4% in the first quarter. Russell Investments Group Ltd. now owns 39,964 shares of the mining company's stock worth $2,547,000 after buying an additional 147 shares during the last quarter. Texas Yale Capital Corp. bought a new stake in shares of Rio Tinto Group during the 1st quarter worth $220,000. Finally, Kingsview Wealth Management LLC raised its holdings in Rio Tinto Group by 6.8% in the 1st quarter. Kingsview Wealth Management LLC now owns 4,570 shares of the mining company's stock worth $291,000 after acquiring an additional 289 shares during the period. Institutional investors and hedge funds own 19.33% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on RIO shares. Royal Bank of Canada raised Rio Tinto Group to a "hold" rating in a research report on Wednesday, July 31st. Hsbc Global Res raised Rio Tinto Group to a "strong-buy" rating in a report on Tuesday, July 23rd. Berenberg Bank upgraded Rio Tinto Group from a "hold" rating to a "buy" rating in a report on Wednesday, October 2nd. HSBC upgraded shares of Rio Tinto Group from a "hold" rating to a "buy" rating in a research note on Tuesday, July 23rd. Finally, Macquarie reiterated a "neutral" rating on shares of Rio Tinto Group in a research note on Wednesday, October 16th. Four equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy".

Rio Tinto Group Price Performance

Shares of NYSE:RIO traded down $0.58 during trading on Wednesday, hitting $60.62. 2,165,336 shares of the stock were exchanged, compared to its average volume of 2,761,981. The company's fifty day simple moving average is $65.41 and its 200-day simple moving average is $66.19. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.70 and a quick ratio of 1.16. Rio Tinto Group has a 1-year low of $59.35 and a 1-year high of $75.09.

Rio Tinto Group Company 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.