Sawyer & Company Inc purchased a new stake in Rio Tinto plc (NYSE:RIO) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 9,270 shares of the mining company’s stock, valued at approximately $491,000.
Several other institutional investors have also made changes to their positions in the company. Dimensional Fund Advisors LP lifted its stake in shares of Rio Tinto by 16.5% in the 3rd quarter. Dimensional Fund Advisors LP now owns 2,503,490 shares of the mining company’s stock valued at $118,140,000 after purchasing an additional 353,835 shares during the last quarter. Jennison Associates LLC lifted its stake in Rio Tinto by 35.7% during the 3rd quarter. Jennison Associates LLC now owns 2,139,716 shares of the mining company’s stock worth $100,973,000 after acquiring an additional 563,461 shares in the last quarter. Van ECK Associates Corp lifted its stake in Rio Tinto by 237.3% during the 3rd quarter. Van ECK Associates Corp now owns 1,280,538 shares of the mining company’s stock worth $60,429,000 after acquiring an additional 900,859 shares in the last quarter. Northern Trust Corp lifted its stake in Rio Tinto by 0.8% during the 2nd quarter. Northern Trust Corp now owns 1,166,895 shares of the mining company’s stock worth $49,372,000 after acquiring an additional 9,809 shares in the last quarter. Finally, Russell Investments Group Ltd. lifted its stake in Rio Tinto by 124.2% during the 3rd quarter. Russell Investments Group Ltd. now owns 1,092,553 shares of the mining company’s stock worth $51,543,000 after acquiring an additional 605,170 shares in the last quarter. 7.24% of the stock is currently owned by institutional investors and hedge funds.
Rio Tinto plc (NYSE RIO) traded up $0.49 during mid-day trading on Thursday, reaching $56.27. The company’s stock had a trading volume of 2,348,100 shares, compared to its average volume of 2,901,509. The company has a quick ratio of 1.34, a current ratio of 1.71 and a debt-to-equity ratio of 0.31. The firm has a market cap of $99,520.00, a price-to-earnings ratio of 16.41 and a beta of 1.01. Rio Tinto plc has a 52 week low of $37.66 and a 52 week high of $57.78.
RIO has been the topic of several research reports. Canaccord Genuity lowered Rio Tinto from a “buy” rating to a “hold” rating in a research note on Tuesday, September 26th. Citigroup reissued a “buy” rating on shares of Rio Tinto in a research note on Thursday, September 28th. Jefferies Group set a $55.00 target price on Rio Tinto and gave the stock a “buy” rating in a research note on Thursday, October 5th. Zacks Investment Research raised Rio Tinto from a “hold” rating to a “strong-buy” rating and set a $56.00 target price on the stock in a research note on Saturday, October 7th. Finally, Clarkson Capital lowered Rio Tinto from a “buy” rating to a “neutral” rating in a research note on Monday, October 16th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and ten have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $55.09.
TRADEMARK VIOLATION NOTICE: This news story was published by Dispatch Tribunal and is the sole property of of Dispatch Tribunal. If you are accessing this news story on another site, it was copied illegally and reposted in violation of United States and international copyright and trademark law. The correct version of this news story can be read at https://www.dispatchtribunal.com/2018/01/18/sawyer-company-inc-invests-491000-in-rio-tinto-plc-rio-stock.html.
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.
Receive News & Ratings for Rio Tinto Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Rio Tinto and related companies with MarketBeat.com's FREE daily email newsletter.