Chesapeake Capital Corp IL Trims Stock Position in Rio Tinto Group (NYSE:RIO)

Chesapeake Capital Corp IL lessened its holdings in shares of Rio Tinto Group (NYSE:RIO) by 31.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,727 shares of the mining company’s stock after selling 3,082 shares during the period. Chesapeake Capital Corp IL’s holdings in Rio Tinto Group were worth $479,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in RIO. Bank of Montreal Can increased its holdings in 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 buying an additional 1,738,752 shares in the last quarter. National Bank of Canada FI increased its holdings in 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 buying 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 acquired a new stake in shares of Rio Tinto Group in the second quarter valued at about $48,129,000. Mediolanum International Funds Ltd acquired a new stake in shares of Rio Tinto Group in the third quarter valued at about $33,590,000. Finally, Palliser Capital UK Ltd grew 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 purchasing an additional 436,475 shares during the period. Hedge funds and other institutional investors own 19.33% of the company’s stock.

Analyst Upgrades and Downgrades

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

Rio Tinto Group Trading Up 0.9 %

Shares of NYSE RIO opened at $60.98 on Monday. Rio Tinto Group has a 12-month low of $59.35 and a 12-month high of $75.09. 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 moving average of $65.44 and a 200 day moving average of $66.03.

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.