Todd Asset Management LLC raised its holdings in Rio Tinto plc ADR (NYSE:RIO) by 0.9% during the first quarter, HoldingsChannel reports. The firm owned 1,092,325 shares of the mining company’s stock after buying an additional 10,256 shares during the period. Rio Tinto makes up about 1.8% of Todd Asset Management LLC’s portfolio, making the stock its 3rd biggest holding. Todd Asset Management LLC’s holdings in Rio Tinto were worth $64,283,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also made changes to their positions in the company. Sumitomo Mitsui Trust Holdings Inc. bought a new position in shares of Rio Tinto in the first quarter worth $27,273,000. Solstein Capital LLC bought a new position in shares of Rio Tinto in the first quarter worth $287,000. FineMark National Bank & Trust grew its stake in shares of Rio Tinto by 3.5% in the first quarter. FineMark National Bank & Trust now owns 99,867 shares of the mining company’s stock worth $5,877,000 after purchasing an additional 3,417 shares in the last quarter. Mid Atlantic Financial Management Inc. ADV bought a new position in shares of Rio Tinto in the first quarter worth $371,000. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its stake in shares of Rio Tinto by 166.5% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 52,747 shares of the mining company’s stock worth $3,104,000 after purchasing an additional 32,955 shares in the last quarter. 7.68% of the stock is currently owned by institutional investors.
Several brokerages recently weighed in on RIO. Goldman Sachs Group raised Rio Tinto from a “neutral” rating to a “buy” rating and set a $56.08 target price for the company in a research note on Monday, February 11th. Canaccord Genuity raised Rio Tinto from a “hold” rating to a “buy” rating in a research note on Thursday, January 31st. Liberum Capital raised Rio Tinto from a “sell” rating to a “buy” rating in a research note on Friday. Vertical Group raised Rio Tinto from a “sell” rating to a “hold” rating in a research note on Thursday, April 4th. Finally, Zacks Investment Research raised Rio Tinto from a “strong sell” rating to a “hold” rating in a research note on Friday, January 25th. Six research analysts have rated the stock with a sell rating, eleven have issued a hold rating and four have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $62.33.
Shares of NYSE RIO traded up $0.03 during mid-day trading on Tuesday, hitting $59.77. 84,014 shares of the company traded hands, compared to its average volume of 2,952,347. Rio Tinto plc ADR has a 1 year low of $44.62 and a 1 year high of $63.27. The company has a market cap of $75.35 billion, a price-to-earnings ratio of 11.74 and a beta of 0.83. The company has a quick ratio of 1.65, a current ratio of 1.98 and a debt-to-equity ratio of 0.26.
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Rio Tinto Company Profile
Rio Tinto Group engages in finding, mining, and processing mineral resources worldwide. The company offers aluminium, silver, molybdenum, copper, diamonds, gold, borates, titanium dioxide, salt, iron ore, and uranium. It is also involved in the alumina production; primary aluminium smelting; bauxite mining; alumina refining; and ilmenite mining, as well as provision of gypsum.
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