Cambridge Investment Research Advisors Inc. lifted its stake in Rio Tinto plc ADR (NYSE:RIO) by 24.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 33,502 shares of the mining company’s stock after buying an additional 6,624 shares during the period. Cambridge Investment Research Advisors Inc.’s holdings in Rio Tinto were worth $1,989,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds also recently modified their holdings of the company. Marshall Wace LLP purchased a new stake in shares of Rio Tinto during the first quarter valued at $393,000. FMR LLC lifted its holdings in shares of Rio Tinto by 0.4% during the first quarter. FMR LLC now owns 291,222 shares of the mining company’s stock valued at $17,138,000 after purchasing an additional 1,027 shares during the last quarter. First Trust Advisors LP lifted its holdings in shares of Rio Tinto by 3.5% during the first quarter. First Trust Advisors LP now owns 86,103 shares of the mining company’s stock valued at $5,067,000 after purchasing an additional 2,938 shares during the last quarter. Commerzbank Aktiengesellschaft FI lifted its holdings in shares of Rio Tinto by 0.7% during the third quarter. Commerzbank Aktiengesellschaft FI now owns 74,274 shares of the mining company’s stock valued at $3,869,000 after purchasing an additional 508 shares during the last quarter. Finally, Gilman Hill Asset Management LLC lifted its holdings in shares of Rio Tinto by 1.0% during the third quarter. Gilman Hill Asset Management LLC now owns 40,444 shares of the mining company’s stock valued at $2,107,000 after purchasing an additional 405 shares during the last quarter. Institutional investors and hedge funds own 7.35% of the company’s stock.
Several equities research analysts have recently commented on RIO shares. UBS Group reaffirmed a “neutral” rating on shares of Rio Tinto in a report on Wednesday, January 8th. ValuEngine raised Rio Tinto from a “sell” rating to a “hold” rating in a report on Saturday, February 1st. JPMorgan Chase & Co. downgraded Rio Tinto from an “overweight” rating to a “neutral” rating in a report on Tuesday, December 17th. Royal Bank of Canada downgraded Rio Tinto from a “sector perform” rating to an “underperform” rating in a report on Tuesday. Finally, Citigroup downgraded Rio Tinto from a “buy” rating to a “neutral” rating in a research note on Wednesday, December 11th. Five analysts have rated the stock with a sell rating, fifteen have given a hold rating and four have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $1,070.06.
Shares of Rio Tinto stock opened at $54.50 on Friday. The stock has a 50-day moving average price of $57.45 and a 200 day moving average price of $54.11. The company has a market cap of $69.32 billion, a P/E ratio of 10.75 and a beta of 0.91. The company has a current ratio of 1.55, a quick ratio of 1.22 and a debt-to-equity ratio of 0.30. Rio Tinto plc ADR has a 1 year low of $47.88 and a 1 year high of $64.02.
In other Rio Tinto news, insider Clark Megan acquired 525 shares of Rio Tinto stock in a transaction that occurred on Monday, November 18th. The stock was purchased at an average cost of $94.33 per share, with a total value of $49,523.25.
Rio Tinto Company Profile
Rio Tinto Group engages in finding, mining, and processing mineral resources worldwide. The company offers aluminium, silver, molybdenum, copper, diamonds, gold, borates, titanium dioxide, salt, iron ore, and uranium. It is also involved in the alumina production; primary aluminium smelting; bauxite mining; alumina refining; and ilmenite mining, as well as provision of gypsum.
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