State Street Corp Decreases Stock Holdings in Rio Tinto Group (NYSE:RIO)

State Street Corp lessened its stake in shares of Rio Tinto Group (NYSE:RIO) by 12.7% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 4,019 shares of the mining company’s stock after selling 584 shares during the period. State Street Corp’s holdings in Rio Tinto Group were worth $286,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in RIO. Bank of Montreal Can grew 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 purchasing an additional 1,738,752 shares in the last quarter. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund purchased a new position in shares of Rio Tinto Group in the second quarter worth about $48,129,000. Fisher Asset Management LLC lifted its stake in shares of Rio Tinto Group by 2.9% in the 3rd quarter. Fisher Asset Management LLC now owns 17,528,095 shares of the mining company’s stock valued at $1,247,475,000 after acquiring an additional 485,731 shares during the last quarter. Mediolanum International Funds Ltd purchased a new stake in shares of Rio Tinto Group during the third quarter valued at approximately $33,590,000. Finally, Dimensional Fund Advisors LP increased its stake in shares of Rio Tinto Group by 78.3% in the second quarter. Dimensional Fund Advisors LP now owns 858,050 shares of the mining company’s stock worth $56,565,000 after buying an additional 376,778 shares during the period. Hedge funds and other institutional investors own 19.33% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on RIO shares. Macquarie reissued a “neutral” rating on shares of Rio Tinto Group in a research note on Wednesday, October 16th. Berenberg Bank upgraded shares of Rio Tinto Group from a “hold” rating to a “buy” rating in a research note on Wednesday, October 2nd. Finally, StockNews.com lowered shares of Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a report on Tuesday, November 12th. Four analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy”.

Rio Tinto Group Stock Down 0.3 %

Rio Tinto Group stock opened at $58.60 on Friday. The company has a current ratio of 1.70, a quick ratio of 1.16 and a debt-to-equity ratio of 0.23. Rio Tinto Group has a 12 month low of $58.19 and a 12 month high of $74.24. The firm has a market cap of $73.42 billion, a price-to-earnings ratio of 8.51, a PEG ratio of 0.38 and a beta of 0.65. The stock has a fifty day simple moving average of $62.37 and a two-hundred day simple moving average of $64.11.

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.