D.A. Davidson & CO. Lowers Holdings in Rio Tinto Group (NYSE:RIO)

D.A. Davidson & CO. trimmed its position in shares of Rio Tinto Group (NYSE:RIO) by 11.7% during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 85,543 shares of the mining company’s stock after selling 11,331 shares during the quarter. D.A. Davidson & CO.’s holdings in Rio Tinto Group were worth $6,088,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Bank of Montreal Can lifted its position in Rio Tinto Group by 237.0% in 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 in the last quarter. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund bought a new position in shares of Rio Tinto Group during the second quarter valued at $48,129,000. Fisher Asset Management LLC lifted its holdings in shares of Rio Tinto Group by 2.9% during the third quarter. Fisher Asset Management LLC now owns 17,528,095 shares of the mining company’s stock valued at $1,247,475,000 after purchasing an additional 485,731 shares in the last quarter. Mediolanum International Funds Ltd purchased a new stake in shares of Rio Tinto Group during the third quarter valued at $33,590,000. Finally, Palliser Capital UK Ltd increased its holdings in Rio Tinto Group by 690.6% in the 2nd quarter. Palliser Capital UK Ltd now owns 499,675 shares of the mining company’s stock worth $32,944,000 after buying an additional 436,475 shares in the last quarter. 19.33% of the stock is currently owned by institutional investors.

Rio Tinto Group Stock Performance

Shares of Rio Tinto Group stock opened at $62.32 on Thursday. 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 1-year low of $59.35 and a 1-year high of $75.09. The company’s fifty day simple moving average is $65.54 and its 200-day simple moving average is $65.66.

Wall Street Analysts Forecast Growth

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