Murphy Pohlad Asset Management LLC Sells 2,050 Shares of Rio Tinto Group (NYSE:RIO)

Murphy Pohlad Asset Management LLC trimmed its position in shares of Rio Tinto Group (NYSE:RIO) by 10.4% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,685 shares of the mining company’s stock after selling 2,050 shares during the period. Murphy Pohlad Asset Management LLC’s holdings in Rio Tinto Group were worth $1,259,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of RIO. Bank of Montreal Can grew its holdings in shares of Rio Tinto Group by 237.0% in 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 in the last quarter. Earnest Partners LLC grew its holdings in shares of 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 valued at $88,979,000 after purchasing an additional 19,334 shares in the last quarter. National Bank of Canada FI grew its holdings in shares of Rio Tinto Group by 296.2% in the first quarter. National Bank of Canada FI now owns 1,022,765 shares of the mining company’s stock valued at $71,382,000 after purchasing an additional 764,635 shares in the last quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH grew its holdings in shares of Rio Tinto Group by 9.8% in 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 purchasing an additional 83,569 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in shares of Rio Tinto Group by 78.3% in the second quarter. Dimensional Fund Advisors LP now owns 858,050 shares of the mining company’s stock valued at $56,565,000 after purchasing an additional 376,778 shares in the last quarter. 19.33% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. 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 raised shares of Rio Tinto Group from a “buy” rating to a “strong-buy” rating in a report on Friday, September 6th. Macquarie reaffirmed a “neutral” rating on shares of Rio Tinto Group in a research note on Wednesday, October 16th. Royal Bank of Canada raised shares of Rio Tinto Group to a “hold” rating in a research note on Wednesday, July 31st. Finally, HSBC raised shares of Rio Tinto Group from a “hold” rating to a “buy” rating in a research note on Tuesday, July 23rd. Four analysts have rated the stock with a hold rating, four have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy”.

Rio Tinto Group Stock Up 0.7 %

NYSE:RIO opened at $65.32 on Friday. Rio Tinto Group has a twelve month low of $59.35 and a twelve month high of $75.09. The stock has a fifty day simple moving average of $65.19 and a 200-day simple moving average of $66.33. The company has a current ratio of 1.70, a quick ratio of 1.16 and a debt-to-equity ratio of 0.23.

About Rio Tinto Group

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.