Sawyer & Company Inc purchased a new position in shares of Rio Tinto plc (NYSE:RIO) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 9,270 shares of the mining company’s stock, valued at approximately $491,000.
Other institutional investors have also bought and sold shares of the company. Zions Bancorporation grew its holdings in Rio Tinto by 2,992.2% during the third quarter. Zions Bancorporation now owns 2,381 shares of the mining company’s stock worth $112,000 after purchasing an additional 2,304 shares during the period. Acrospire Investment Management LLC grew its holdings in Rio Tinto by 13.0% during the second quarter. Acrospire Investment Management LLC now owns 2,599 shares of the mining company’s stock worth $110,000 after purchasing an additional 299 shares during the period. The Manufacturers Life Insurance Company lifted its position in Rio Tinto by 212.1% during the second quarter. The Manufacturers Life Insurance Company now owns 3,187 shares of the mining company’s stock worth $135,000 after acquiring an additional 2,166 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its position in Rio Tinto by 120.1% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 3,753 shares of the mining company’s stock worth $159,000 after acquiring an additional 2,048 shares during the last quarter. Finally, Adviser Investments LLC acquired a new stake in Rio Tinto during the third quarter worth approximately $207,000. Institutional investors and hedge funds own 7.24% of the company’s stock.
Rio Tinto plc (NYSE RIO) traded up $0.34 during midday trading on Thursday, hitting $56.08. 2,497,600 shares of the stock were exchanged, compared to its average volume of 2,968,843. The company has a current ratio of 1.71, a quick ratio of 1.34 and a debt-to-equity ratio of 0.31. Rio Tinto plc has a 52 week low of $37.66 and a 52 week high of $56.16. The firm has a market capitalization of $101,890.00, a P/E ratio of 16.35 and a beta of 1.01.
Several equities research analysts have issued reports on RIO shares. Jefferies Group set a $55.00 price objective on shares of Rio Tinto and gave the stock a “buy” rating in a research report on Thursday, October 5th. Zacks Investment Research upgraded shares of Rio Tinto from a “hold” rating to a “strong-buy” rating and set a $56.00 price objective for the company in a research report on Saturday, October 7th. Clarkson Capital downgraded shares of Rio Tinto from a “buy” rating to a “neutral” rating in a research report on Monday, October 16th. Societe Generale upgraded shares of Rio Tinto from a “hold” rating to a “buy” rating in a research report on Wednesday, November 8th. Finally, Canaccord Genuity downgraded shares of Rio Tinto from a “buy” rating to a “hold” rating in a research report on Tuesday, September 26th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and ten have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $51.59.
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Rio Tinto Company Profile
Rio Tinto plc is a mining and metals company. The Company’s business is finding, mining and processing mineral resources. The Company’s segments include Iron Ore, Aluminium, Copper & Diamonds, Energy & Minerals and Other Operations. The Company operates an iron ore business, supplying the global seaborne iron ore trade.
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