Raymond James Trust N.A. Decreases Holdings in Rio Tinto Group (NYSE:RIO)

Raymond James Trust N.A. lowered its stake in shares of Rio Tinto Group (NYSE:RIO) by 21.4% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,788 shares of the mining company’s stock after selling 1,852 shares during the period. Raymond James Trust N.A.’s holdings in Rio Tinto Group were worth $483,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Bank of Montreal Can increased its stake 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 buying an additional 1,738,752 shares in the last quarter. Natixis Advisors LLC raised its stake in Rio Tinto Group by 8.7% in the 2nd quarter. Natixis Advisors LLC now owns 695,731 shares of the mining company’s stock valued at $45,870,000 after purchasing an additional 55,967 shares during the last quarter. Philip James Wealth Mangement LLC purchased a new position in Rio Tinto Group in the 3rd quarter valued at $1,345,000. First City Capital Management Inc. boosted its stake in Rio Tinto Group by 118.5% during the 2nd quarter. First City Capital Management Inc. now owns 15,178 shares of the mining company’s stock worth $1,001,000 after purchasing an additional 8,230 shares during the last quarter. Finally, Northwest Bancshares Inc. purchased a new stake in shares of Rio Tinto Group during the third quarter worth $1,440,000. Institutional investors and hedge funds own 19.33% of the company’s stock.

Rio Tinto Group Stock Performance

NYSE RIO opened at $62.02 on Wednesday. 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 firm’s 50-day moving average is $65.55 and its two-hundred day moving average is $65.68. Rio Tinto Group has a 12 month low of $59.35 and a 12 month high of $75.09.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Macquarie restated a “neutral” rating on shares of Rio Tinto Group in a research report on Wednesday, October 16th. Royal Bank of Canada upgraded Rio Tinto Group to a “hold” rating in a report on Wednesday, July 31st. Berenberg Bank raised Rio Tinto Group from a “hold” rating to a “buy” rating in a report on Wednesday, October 2nd. Finally, StockNews.com lowered Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, November 12th. Four equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average 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.