Advisors Asset Management Inc. Grows Holdings in Rio Tinto Group (NYSE:RIO)

Advisors Asset Management Inc. boosted its holdings in shares of Rio Tinto Group (NYSE:RIO) by 11.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 79,333 shares of the mining company’s stock after acquiring an additional 8,417 shares during the period. Advisors Asset Management Inc.’s holdings in Rio Tinto Group were worth $5,646,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the business. Bank of Montreal Can lifted its holdings in shares of 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 valued at $164,493,000 after purchasing an additional 1,738,752 shares during the last quarter. Earnest Partners LLC boosted its holdings in Rio Tinto Group by 1.4% in the first quarter. Earnest Partners LLC now owns 1,395,961 shares of the mining company’s stock worth $88,979,000 after acquiring an additional 19,334 shares in the last quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH increased its holdings in shares of Rio Tinto Group by 9.8% during the third quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 932,151 shares of the mining company’s stock valued at $66,341,000 after acquiring an additional 83,569 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Rio Tinto Group by 78.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 858,050 shares of the mining company’s stock worth $56,565,000 after purchasing an additional 376,778 shares during the last quarter. Finally, United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund bought a new position in Rio Tinto Group in the 2nd quarter worth about $48,129,000. Institutional investors own 19.33% of the company’s stock.

Rio Tinto Group Trading Up 0.3 %

NYSE:RIO opened at $62.57 on Friday. The company has a quick ratio of 1.16, a current ratio of 1.70 and a debt-to-equity ratio of 0.23. The company has a 50 day simple moving average of $65.57 and a two-hundred day simple moving average of $65.89. Rio Tinto Group has a 12 month low of $59.35 and a 12 month high of $75.09.

Wall Street Analyst Weigh In

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

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.