FineMark National Bank & Trust purchased a new stake in shares of Rio Tinto plc ADR (NYSE:RIO) during the 3rd quarter, according to its most recent disclosure with the SEC. The fund purchased 97,584 shares of the mining company’s stock, valued at approximately $4,979,000.
Other institutional investors also recently made changes to their positions in the company. Trust Department MB Financial Bank N A bought a new stake in shares of Rio Tinto during the 3rd quarter valued at approximately $102,000. Whittier Trust Co. grew its holdings in shares of Rio Tinto by 605.9% during the 2nd quarter. Whittier Trust Co. now owns 2,047 shares of the mining company’s stock valued at $111,000 after purchasing an additional 1,757 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. bought a new stake in shares of Rio Tinto during the 2nd quarter valued at approximately $166,000. Brown Advisory Inc. bought a new stake in shares of Rio Tinto during the 2nd quarter valued at approximately $201,000. Finally, Whittier Trust Co. of Nevada Inc. grew its holdings in shares of Rio Tinto by 2,042.5% during the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 3,985 shares of the mining company’s stock valued at $216,000 after purchasing an additional 3,799 shares during the last quarter. 7.46% of the stock is currently owned by institutional investors.
NYSE:RIO opened at $51.37 on Tuesday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.41 and a current ratio of 1.77. Rio Tinto plc ADR has a one year low of $45.62 and a one year high of $60.72.
RIO has been the topic of several research reports. Jefferies Financial Group set a $67.00 price target on shares of Rio Tinto and gave the company a “buy” rating in a report on Wednesday, August 1st. BMO Capital Markets reiterated a “buy” rating on shares of Rio Tinto in a research report on Tuesday, October 16th. Goldman Sachs Group upgraded shares of Rio Tinto from a “neutral” rating to a “buy” rating in a research report on Tuesday, October 9th. ValuEngine upgraded shares of Rio Tinto from a “sell” rating to a “hold” rating in a research report on Monday, September 24th. Finally, Liberum Capital upgraded shares of Rio Tinto from a “sell” rating to a “hold” rating in a research report on Wednesday, August 22nd. Four research analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have given a buy rating to the company’s stock. Rio Tinto currently has a consensus rating of “Hold” and a consensus price target of $58.80.
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Rio Tinto Company Profile
Rio Tinto plc, a mining and metals company, explores for, develops, produces, and processes minerals and metals worldwide. It finds, mines, and processes mineral resources, including aluminum, copper, diamonds, gold, industrial minerals (borates, titanium dioxide, and salt), iron ore, thermal and metallurgical coal, and uranium, as well as sulphuric acid, rhenium, lead carbonate, and selenium.
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