Rio Tinto Group (NYSE:RIO) Shares Acquired by Fisher Asset Management LLC

Fisher Asset Management LLC raised its position in shares of Rio Tinto Group (NYSE:RIO) by 2.9% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 17,528,095 shares of the mining company’s stock after purchasing an additional 485,731 shares during the quarter. Fisher Asset Management LLC’s holdings in Rio Tinto Group were worth $1,247,475,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the company. Bank of Montreal Can grew its holdings in Rio Tinto Group by 237.0% during the second 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 grew its stake in shares of Rio Tinto Group by 8.7% in the 2nd quarter. Natixis Advisors LLC now owns 695,731 shares of the mining company’s stock worth $45,870,000 after purchasing an additional 55,967 shares during the last quarter. Philip James Wealth Mangement LLC bought a new stake in shares of Rio Tinto Group in the 3rd quarter worth approximately $1,345,000. First City Capital Management Inc. raised its holdings in shares of 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, Northwest Bancshares Inc. acquired a new stake in Rio Tinto Group during the third quarter valued at approximately $1,440,000. 19.33% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. StockNews.com cut Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a report on Tuesday, November 12th. Royal Bank of Canada upgraded Rio Tinto Group to a “hold” rating in a report on Wednesday, July 31st. Macquarie reaffirmed a “neutral” rating on shares of Rio Tinto Group in a report on Wednesday, October 16th. Finally, Berenberg Bank raised Rio Tinto Group from a “hold” rating to a “buy” rating in a research note on Wednesday, October 2nd. Four investment analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Rio Tinto Group presently has a consensus rating of “Moderate Buy”.

Rio Tinto Group Price Performance

NYSE RIO opened at $62.35 on Monday. The firm’s 50 day moving average price is $65.57 and its two-hundred day moving average price is $65.79. Rio Tinto Group has a twelve month low of $59.35 and a twelve month 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.

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.