Rio Tinto plc ADR (RIO) Stake Lowered by BB&T Securities LLC

BB&T Securities LLC reduced its position in shares of Rio Tinto plc ADR (NYSE:RIO) by 4.2% in the fourth quarter, HoldingsChannel reports. The firm owned 11,953 shares of the mining company’s stock after selling 521 shares during the period. BB&T Securities LLC’s holdings in Rio Tinto were worth $579,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Franklin Resources Inc. grew its position in shares of Rio Tinto by 32.4% during the 3rd quarter. Franklin Resources Inc. now owns 13,675,628 shares of the mining company’s stock valued at $697,731,000 after purchasing an additional 3,350,335 shares in the last quarter. Fisher Asset Management LLC lifted its holdings in shares of Rio Tinto by 2.3% during the 4th quarter. Fisher Asset Management LLC now owns 9,487,110 shares of the mining company’s stock worth $459,935,000 after acquiring an additional 211,584 shares during the last quarter. Impala Asset Management LLC lifted its holdings in shares of Rio Tinto by 37.9% during the 3rd quarter. Impala Asset Management LLC now owns 3,394,180 shares of the mining company’s stock worth $173,171,000 after acquiring an additional 933,679 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Rio Tinto by 9.6% during the 3rd quarter. Dimensional Fund Advisors LP now owns 2,772,114 shares of the mining company’s stock worth $141,433,000 after acquiring an additional 243,008 shares during the last quarter. Finally, Minneapolis Portfolio Management Group LLC lifted its holdings in shares of Rio Tinto by 2.2% during the 3rd quarter. Minneapolis Portfolio Management Group LLC now owns 726,725 shares of the mining company’s stock worth $37,078,000 after acquiring an additional 15,412 shares during the last quarter. Hedge funds and other institutional investors own 7.15% of the company’s stock.

Rio Tinto stock opened at $58.02 on Friday. The company has a quick ratio of 1.41, a current ratio of 1.77 and a debt-to-equity ratio of 0.27. The firm has a market capitalization of $75.75 billion, a price-to-earnings ratio of 12.11 and a beta of 0.85. Rio Tinto plc ADR has a twelve month low of $44.62 and a twelve month high of $60.72.

RIO has been the subject of a number of research analyst reports. JPMorgan Chase & Co. downgraded shares of Rio Tinto to a “buy” rating in a report on Thursday, December 6th. Canaccord Genuity raised shares of Rio Tinto from a “hold” rating to a “buy” rating in a report on Thursday, January 31st. Goldman Sachs Group raised shares of Rio Tinto from a “neutral” rating to a “buy” rating and set a $56.08 price objective for the company in a report on Monday, February 11th. Investec downgraded shares of Rio Tinto from a “buy” rating to a “hold” rating in a report on Friday, February 8th. Finally, Zacks Investment Research raised shares of Rio Tinto from a “strong sell” rating to a “hold” rating in a report on Friday, January 25th. Three analysts have rated the stock with a sell rating, ten have issued a hold rating and six have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $57.02.

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

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