Rio Tinto Group (NYSE:RIO) Shares Sold by Peapack Gladstone Financial Corp

Peapack Gladstone Financial Corp lessened its holdings in Rio Tinto Group (NYSE:RIO) by 5.9% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 15,872 shares of the mining company’s stock after selling 999 shares during the period. Peapack Gladstone Financial Corp’s holdings in Rio Tinto Group were worth $1,131,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the business. Bank of Montreal Can lifted 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 acquiring an additional 1,738,752 shares in the last quarter. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund acquired a new position in Rio Tinto Group during the 2nd quarter worth about $48,129,000. Fisher Asset Management LLC lifted its stake in Rio Tinto Group by 2.9% during the 3rd quarter. Fisher Asset Management LLC now owns 17,528,095 shares of the mining company’s stock worth $1,247,475,000 after acquiring an additional 485,731 shares in the last quarter. Mediolanum International Funds Ltd acquired a new position in Rio Tinto Group during the 3rd quarter worth about $33,590,000. Finally, Dimensional Fund Advisors LP lifted its stake in Rio Tinto Group by 78.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 858,050 shares of the mining company’s stock worth $56,565,000 after acquiring an additional 376,778 shares in the last quarter. Institutional investors and hedge funds own 19.33% of the company’s stock.

Rio Tinto Group Trading Down 2.0 %

RIO stock opened at $62.21 on Monday. 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 business’s 50-day moving average is $64.30 and its two-hundred day moving average is $64.93. Rio Tinto Group has a 1 year low of $59.35 and a 1 year high of $75.09.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on RIO shares. Macquarie reissued a “neutral” rating on shares of Rio Tinto Group in a research note on Wednesday, October 16th. Berenberg Bank raised Rio Tinto Group from a “hold” rating to a “buy” rating in a research note 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, four have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Rio Tinto Group has a consensus 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.