LSV Asset Management Has $2.54 Million Stock Holdings in Rio Tinto PLC $RIO

LSV Asset Management decreased its holdings in shares of Rio Tinto PLC (NYSE:RIO) by 18.3% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 38,500 shares of the mining company’s stock after selling 8,600 shares during the quarter. LSV Asset Management’s holdings in Rio Tinto were worth $2,541,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. Spire Wealth Management increased its holdings in shares of Rio Tinto by 4.2% in the 3rd quarter. Spire Wealth Management now owns 4,258 shares of the mining company’s stock valued at $281,000 after purchasing an additional 173 shares during the period. Cornerstone Wealth Management LLC grew its position in Rio Tinto by 2.7% during the third quarter. Cornerstone Wealth Management LLC now owns 6,620 shares of the mining company’s stock valued at $437,000 after purchasing an additional 174 shares in the last quarter. Salomon & Ludwin LLC grew its position in Rio Tinto by 62.2% during the third quarter. Salomon & Ludwin LLC now owns 472 shares of the mining company’s stock valued at $31,000 after purchasing an additional 181 shares in the last quarter. Hamilton Point Investment Advisors LLC increased its stake in Rio Tinto by 0.4% in the 3rd quarter. Hamilton Point Investment Advisors LLC now owns 42,206 shares of the mining company’s stock valued at $2,786,000 after buying an additional 182 shares during the period. Finally, Americana Partners LLC lifted its position in Rio Tinto by 1.2% in the 3rd quarter. Americana Partners LLC now owns 15,988 shares of the mining company’s stock worth $1,055,000 after buying an additional 195 shares in the last quarter. 19.33% of the stock is owned by hedge funds and other institutional investors.

Rio Tinto Stock Up 0.1%

Shares of RIO stock opened at $98.03 on Tuesday. The stock’s 50 day simple moving average is $85.91 and its 200 day simple moving average is $73.29. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.53 and a quick ratio of 1.03. Rio Tinto PLC has a twelve month low of $51.67 and a twelve month high of $100.33.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on RIO. Argus upped their price target on shares of Rio Tinto from $70.00 to $85.00 and gave the stock a “buy” rating in a research note on Thursday, December 11th. Zacks Research upgraded Rio Tinto from a “hold” rating to a “strong-buy” rating in a research note on Monday, December 29th. Erste Group Bank raised Rio Tinto from a “hold” rating to a “buy” rating in a research note on Friday, January 23rd. Royal Bank Of Canada reiterated a “sector perform” rating on shares of Rio Tinto in a report on Thursday, January 22nd. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Rio Tinto in a report on Monday, December 29th. Three analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat, Rio Tinto has a consensus rating of “Moderate Buy” and an average target price of $85.00.

Rio Tinto Company Profile

Rio Tinto is a global mining and metals company that explores for, mines, processes and markets a wide range of commodities. Its principal products include iron ore, aluminum, copper, diamonds and various other minerals and industrial materials. The company’s activities span the full value chain from exploration and project development to mining, processing, smelting and refining, supplying raw materials to industries such as steelmaking, automotive, packaging, electronics and construction.

The origins of Rio Tinto date back to mining operations in the Rio Tinto region of Spain in the 19th century, and the group has since grown into a multinational enterprise.