Sawyer & Company Inc Purchases New Stake in Rio Tinto plc (NYSE:RIO)

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.

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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.

Institutional Ownership by Quarter for Rio Tinto (NYSE:RIO)

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