Chartwell Investment Partners LLC Acquires Shares of 20,500 Rio Tinto Group (NYSE:RIO)

Chartwell Investment Partners LLC bought a new position in Rio Tinto Group (NYSE:RIO) in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor bought 20,500 shares of the mining company’s stock, valued at approximately $1,459,000.

A number of other hedge funds have also recently made changes to their positions in the stock. Bank of Montreal Can increased its position 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 valued at $164,493,000 after buying an additional 1,738,752 shares in the last quarter. National Bank of Canada FI boosted its position in Rio Tinto Group by 296.2% during the first quarter. National Bank of Canada FI now owns 1,022,765 shares of the mining company’s stock worth $71,382,000 after purchasing an additional 764,635 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 Rio Tinto Group during the second quarter worth approximately $48,129,000. Mediolanum International Funds Ltd purchased a new position in shares of Rio Tinto Group in the third quarter valued at approximately $33,590,000. Finally, Palliser Capital UK Ltd lifted its position in shares of Rio Tinto Group by 690.6% in the second quarter. Palliser Capital UK Ltd now owns 499,675 shares of the mining company’s stock valued at $32,944,000 after acquiring an additional 436,475 shares in the last quarter. 19.33% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

RIO has been the topic of several research reports. Macquarie restated a “neutral” rating on shares of Rio Tinto Group in a research report on Wednesday, October 16th. StockNews.com cut Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a research note on Tuesday. Hsbc Global Res raised Rio Tinto Group to a “strong-buy” rating in a research note on Tuesday, July 23rd. Royal Bank of Canada upgraded Rio Tinto Group to a “hold” rating in a report on Wednesday, July 31st. Finally, Berenberg Bank upgraded Rio Tinto Group from a “hold” rating to a “buy” rating in a report on Wednesday, October 2nd. Four equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy”.

Rio Tinto Group Stock Performance

NYSE RIO opened at $61.20 on Wednesday. The company has a current ratio of 1.70, a quick ratio of 1.16 and a debt-to-equity ratio of 0.23. The business’s 50 day moving average is $65.39 and its two-hundred day moving average is $66.24. Rio Tinto Group has a 12-month low of $59.35 and a 12-month high of $75.09.

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.