Jaffetilchin Investment Partners LLC Invests $493,000 in Rio Tinto Group (NYSE:RIO)

Jaffetilchin Investment Partners LLC acquired a new stake in Rio Tinto Group (NYSE:RIO) in the third quarter, Holdings Channel reports. The firm acquired 6,932 shares of the mining company’s stock, valued at approximately $493,000.

A number of other large investors have also modified their holdings of RIO. Bank of Montreal Can increased its position in shares of Rio Tinto Group by 237.0% in 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 purchasing an additional 1,738,752 shares during the last quarter. Earnest Partners LLC raised its stake in Rio Tinto Group by 1.4% during the 1st quarter. Earnest Partners LLC now owns 1,395,961 shares of the mining company’s stock worth $88,979,000 after acquiring an additional 19,334 shares in the last quarter. National Bank of Canada FI lifted its position 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 acquiring an additional 764,635 shares during the last quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH grew its holdings in shares of Rio Tinto Group by 9.8% during the third quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 932,151 shares of the mining company’s stock worth $66,341,000 after purchasing an additional 83,569 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its position in shares of Rio Tinto Group by 78.3% during the second quarter. Dimensional Fund Advisors LP now owns 858,050 shares of the mining company’s stock worth $56,565,000 after purchasing an additional 376,778 shares in the last quarter. Hedge funds and other institutional investors own 19.33% of the company’s stock.

Wall Street Analysts Forecast Growth

RIO has been the subject of a number of research reports. Royal Bank of Canada upgraded Rio Tinto Group to a “hold” rating in a research note on Wednesday, July 31st. Macquarie reaffirmed a “neutral” rating on shares of Rio Tinto Group in a report on Wednesday, October 16th. Hsbc Global Res raised Rio Tinto Group to a “strong-buy” rating in a research note on Tuesday, July 23rd. Berenberg Bank upgraded Rio Tinto Group from a “hold” rating to a “buy” rating in a research note on Wednesday, October 2nd. Finally, StockNews.com raised Rio Tinto Group from a “buy” rating to a “strong-buy” rating in a report on Friday, September 6th. Four equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy”.

Rio Tinto Group Stock Down 2.9 %

Shares of NYSE RIO opened at $62.59 on Tuesday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.16 and a current ratio of 1.70. Rio Tinto Group has a one year low of $59.35 and a one year high of $75.09. The company’s fifty day moving average is $65.40 and its two-hundred day moving average is $66.27.

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.