QRG Capital Management Inc. Cuts Stock Position in Rio Tinto Group (NYSE:RIO)

QRG Capital Management Inc. decreased its position in shares of Rio Tinto Group (NYSE:RIO - Free Report) by 9.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 86,223 shares of the mining company's stock after selling 9,274 shares during the period. QRG Capital Management Inc.'s holdings in Rio Tinto Group were worth $6,136,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Bank of Montreal Can boosted its position in shares of 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 valued at $164,493,000 after acquiring an additional 1,738,752 shares during the last quarter. Earnest Partners LLC increased its holdings in shares of Rio Tinto Group by 1.4% in the 1st quarter. Earnest Partners LLC now owns 1,395,961 shares of the mining company's stock worth $88,979,000 after buying an additional 19,334 shares during the last quarter. National Bank of Canada FI lifted its holdings in shares of Rio Tinto Group by 296.2% in the 1st quarter. National Bank of Canada FI now owns 1,022,765 shares of the mining company's stock valued at $71,382,000 after acquiring an additional 764,635 shares during the last quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH grew its position in Rio Tinto Group by 9.8% in the third quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 932,151 shares of the mining company's stock worth $66,341,000 after acquiring an additional 83,569 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its position in Rio Tinto Group by 78.3% during the second quarter. Dimensional Fund Advisors LP now owns 858,050 shares of the mining company's stock valued at $56,565,000 after purchasing an additional 376,778 shares during the period. 19.33% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on RIO shares. Royal Bank of Canada upgraded Rio Tinto Group to a "hold" rating in a report on Wednesday, July 31st. Macquarie reissued a "neutral" rating on shares of Rio Tinto Group in a research report on Wednesday, October 16th. Hsbc Global Res raised shares of Rio Tinto Group to a "strong-buy" rating in a research report on Tuesday, July 23rd. StockNews.com upgraded Rio Tinto Group from a "buy" rating to a "strong-buy" rating in a report on Friday, September 6th. Finally, HSBC raised Rio Tinto Group from a "hold" rating to a "buy" rating in a research report on Tuesday, July 23rd. Four investment analysts have rated the stock with a hold rating, four have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, Rio Tinto Group currently has a consensus rating of "Moderate Buy".

Rio Tinto Group Stock Down 0.2 %

RIO stock traded down $0.15 during midday trading on Wednesday, reaching $65.35. The stock had a trading volume of 2,623,853 shares, compared to its average volume of 2,734,760. The firm has a fifty day simple moving average of $65.25 and a two-hundred day simple moving average of $66.30. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.16 and a current ratio of 1.70. Rio Tinto Group has a 52-week low of $59.35 and a 52-week 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.