M&T Bank Corp Has $4.51 Million Position in Rio Tinto Group (NYSE:RIO)

M&T Bank Corp cut its position in shares of Rio Tinto Group (NYSE:RIO) by 1.5% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 63,385 shares of the mining company’s stock after selling 940 shares during the period. M&T Bank Corp’s holdings in Rio Tinto Group were worth $4,511,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of RIO. GHP Investment Advisors Inc. acquired a new position in shares of Rio Tinto Group in the 2nd quarter valued at $26,000. Winch Advisory Services LLC bought a new position in Rio Tinto Group during the third quarter worth about $26,000. FSC Wealth Advisors LLC acquired a new stake in Rio Tinto Group during the third quarter valued at approximately $28,000. Sound Income Strategies LLC grew its stake in shares of Rio Tinto Group by 70.9% in the 3rd quarter. Sound Income Strategies LLC now owns 417 shares of the mining company’s stock valued at $30,000 after purchasing an additional 173 shares during the period. Finally, Centerpoint Advisors LLC raised its holdings in shares of Rio Tinto Group by 110.0% in the 2nd quarter. Centerpoint Advisors LLC now owns 525 shares of the mining company’s stock worth $35,000 after buying an additional 275 shares in the last quarter. 19.33% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have weighed in on RIO. Macquarie reiterated a “neutral” rating on shares of Rio Tinto Group in a research report on Wednesday, October 16th. StockNews.com lowered shares of Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a report on Tuesday, November 12th. Finally, Berenberg Bank upgraded shares of Rio Tinto Group from a “hold” rating to a “buy” rating in a research report on Wednesday, October 2nd. Four equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy”.

Rio Tinto Group Trading Down 2.4 %

Rio Tinto Group stock opened at $63.43 on Friday. The business’s fifty day moving average is $64.58 and its two-hundred day moving average is $65.09. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.70 and a quick ratio of 1.16. Rio Tinto Group has a 52 week low of $59.35 and a 52 week high of $75.09.

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.