PNC Financial Services Group Inc. Sells 1,205 Shares of Rio Tinto Group (NYSE:RIO)

PNC Financial Services Group Inc. reduced its holdings in Rio Tinto Group (NYSE:RIO) by 2.4% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 49,819 shares of the mining company’s stock after selling 1,205 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Rio Tinto Group were worth $3,546,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Bank of Montreal Can grew 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 worth $164,493,000 after buying an additional 1,738,752 shares during the last quarter. Natixis Advisors LLC boosted its position in shares of Rio Tinto Group by 8.7% during the second 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 in the last quarter. Philip James Wealth Mangement LLC bought a new stake in shares of Rio Tinto Group during the third quarter valued at approximately $1,345,000. First City Capital Management Inc. boosted its position in shares of Rio Tinto Group by 118.5% during the second quarter. First City Capital Management Inc. now owns 15,178 shares of the mining company’s stock valued at $1,001,000 after purchasing an additional 8,230 shares in the last quarter. Finally, QRG Capital Management Inc. boosted its position in shares of Rio Tinto Group by 38.1% during the second quarter. QRG Capital Management Inc. now owns 95,497 shares of the mining company’s stock valued at $6,296,000 after purchasing an additional 26,329 shares in the last quarter. 19.33% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms recently weighed in on RIO. Berenberg Bank upgraded Rio Tinto Group from a “hold” rating to a “buy” rating in a research report on Wednesday, October 2nd. Royal Bank of Canada upgraded Rio Tinto Group to a “hold” rating in a research report on Wednesday, July 31st. Macquarie reiterated a “neutral” rating on shares of Rio Tinto Group in a research note on Wednesday, October 16th. Finally, StockNews.com cut Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, November 12th. Four analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Rio Tinto Group presently has a consensus rating of “Moderate Buy”.

Rio Tinto Group Stock Performance

Rio Tinto Group stock opened at $62.35 on Monday. The company has a current ratio of 1.70, a quick ratio of 1.16 and a debt-to-equity ratio of 0.23. Rio Tinto Group has a one year low of $59.35 and a one year high of $75.09. The stock has a fifty day moving average of $65.57 and a 200 day moving average of $65.79.

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.