Old Port Advisors Reduces Position in Rio Tinto Group (NYSE:RIO)

Old Port Advisors decreased its holdings in Rio Tinto Group (NYSE:RIO) by 1.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 19,739 shares of the mining company’s stock after selling 201 shares during the period. Old Port Advisors’ holdings in Rio Tinto Group were worth $1,161,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Bank of Montreal Can lifted its holdings in 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 worth $164,493,000 after purchasing an additional 1,738,752 shares in the last quarter. Philip James Wealth Mangement LLC purchased a new stake in shares of Rio Tinto Group in the third quarter worth about $1,345,000. Fisher Asset Management LLC boosted its position in shares of Rio Tinto Group by 2.9% in 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 acquiring an additional 485,731 shares during the period. Barclays PLC grew its stake in Rio Tinto Group by 225.6% during the third quarter. Barclays PLC now owns 335,637 shares of the mining company’s stock valued at $23,888,000 after acquiring an additional 232,539 shares in the last quarter. Finally, Northwest Bancshares Inc. bought a new stake in Rio Tinto Group during the 3rd quarter worth approximately $1,440,000. Institutional investors own 19.33% of the company’s stock.

Rio Tinto Group Price Performance

Shares of Rio Tinto Group stock traded up $0.23 on Thursday, hitting $59.04. 555,898 shares of the company traded hands, compared to its average volume of 2,753,122. Rio Tinto Group has a 12-month low of $58.34 and a 12-month high of $74.24. The firm’s 50-day simple moving average is $62.49 and its 200 day simple moving average is $64.15. The company has a market cap of $73.97 billion, a P/E ratio of 8.57, a P/E/G ratio of 0.38 and a beta of 0.65. The company has a current ratio of 1.70, a quick ratio of 1.16 and a debt-to-equity ratio of 0.23.

Wall Street Analyst Weigh In

RIO has been the subject of several analyst reports. StockNews.com downgraded 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 report on Wednesday, October 16th. Finally, Berenberg Bank raised Rio Tinto Group from a “hold” rating to a “buy” rating in a report on Wednesday, October 2nd. Four analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Rio Tinto Group presently has a consensus rating of “Moderate Buy”.

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.