Rio Tinto Group (NYSE:RIO) is Palliser Capital UK Ltd's 3rd Largest Position

Palliser Capital UK Ltd lowered its stake in shares of Rio Tinto Group (NYSE:RIO - Free Report) by 36.9% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 315,300 shares of the mining company's stock after selling 184,375 shares during the quarter. Rio Tinto Group makes up approximately 15.2% of Palliser Capital UK Ltd's holdings, making the stock its 3rd largest position. Palliser Capital UK Ltd's holdings in Rio Tinto Group were worth $22,440,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Bank of Montreal Can boosted its position in Rio Tinto Group by 237.0% during the 2nd quarter. Bank of Montreal Can now owns 2,472,471 shares of the mining company's stock worth $164,493,000 after acquiring an additional 1,738,752 shares during the period. Natixis Advisors LLC boosted its position in Rio Tinto Group by 8.7% during the 2nd 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. First City Capital Management Inc. boosted its position in 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 worth $1,001,000 after acquiring an additional 8,230 shares during the period. QRG Capital Management Inc. boosted its position in Rio Tinto Group by 38.1% during the 2nd quarter. QRG Capital Management Inc. now owns 95,497 shares of the mining company's stock worth $6,296,000 after acquiring an additional 26,329 shares during the period. Finally, FCG Investment Co lifted its holdings in shares of Rio Tinto Group by 42.4% in the third quarter. FCG Investment Co now owns 28,845 shares of the mining company's stock valued at $2,053,000 after buying an additional 8,594 shares during the period. Institutional investors and hedge funds own 19.33% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on RIO shares. StockNews.com raised Rio Tinto Group from a "buy" rating to a "strong-buy" rating in a research note on Friday, September 6th. Berenberg Bank raised Rio Tinto Group from a "hold" rating to a "buy" rating in a research note on Wednesday, October 2nd. HSBC raised Rio Tinto Group from a "hold" rating to a "buy" rating in a research note on Tuesday, July 23rd. Hsbc Global Res raised Rio Tinto Group to a "strong-buy" rating in a research note on Tuesday, July 23rd. Finally, Royal Bank of Canada raised Rio Tinto Group to a "hold" rating in a research note on Wednesday, July 31st. Four investment analysts have rated the stock with a hold rating, four have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, Rio Tinto Group has a consensus rating of "Moderate Buy".

Rio Tinto Group Price Performance

Shares of NYSE RIO traded up $0.44 during mid-day trading on Friday, hitting $65.33. 1,807,761 shares of the company traded hands, compared to its average volume of 2,907,132. Rio Tinto Group has a 1 year low of $59.35 and a 1 year 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 business has a 50 day moving average of $65.19 and a two-hundred day moving average of $66.33.

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.