R Squared Ltd Buys Shares of 9,035 Rio Tinto PLC $RIO

R Squared Ltd purchased a new stake in Rio Tinto PLC (NYSE:RIOFree Report) during the third quarter, Holdings Channel reports. The fund purchased 9,035 shares of the mining company’s stock, valued at approximately $596,000.

Several other large investors have also recently made changes to their positions in the stock. Marshall Wace LLP acquired a new stake in Rio Tinto in the 2nd quarter valued at approximately $49,089,000. Bank of Montreal Can boosted its position in shares of Rio Tinto by 71.7% during the second quarter. Bank of Montreal Can now owns 1,855,607 shares of the mining company’s stock worth $108,238,000 after buying an additional 774,851 shares during the period. Fisher Asset Management LLC grew its stake in shares of Rio Tinto by 4.2% in the second quarter. Fisher Asset Management LLC now owns 18,562,934 shares of the mining company’s stock valued at $1,082,776,000 after buying an additional 752,505 shares in the last quarter. Adage Capital Partners GP L.L.C. lifted its stake in Rio Tinto by 555.8% during the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 524,602 shares of the mining company’s stock worth $30,600,000 after acquiring an additional 444,602 shares in the last quarter. Finally, Tower Research Capital LLC TRC boosted its holdings in Rio Tinto by 198.3% during the 2nd quarter. Tower Research Capital LLC TRC now owns 282,112 shares of the mining company’s stock valued at $16,456,000 after acquiring an additional 187,544 shares during the period. 19.33% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

RIO has been the subject of a number of research reports. HSBC cut shares of Rio Tinto from a “buy” rating to a “hold” rating in a report on Monday, January 26th. Barclays cut Rio Tinto from an “overweight” rating to an “equal weight” rating in a research note on Tuesday. Morgan Stanley cut Rio Tinto from an “overweight” rating to an “equal weight” rating in a research note on Wednesday, January 28th. Citigroup raised Rio Tinto to a “hold” rating in a research report on Tuesday, February 10th. Finally, Argus upped their target price 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. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat.com, Rio Tinto has a consensus rating of “Hold” and a consensus price target of $85.00.

Get Our Latest Analysis on RIO

Rio Tinto News Summary

Here are the key news stories impacting Rio Tinto this week:

Rio Tinto Trading Up 0.2%

Shares of Rio Tinto stock opened at $99.30 on Friday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.98 and a current ratio of 1.44. The company has a fifty day simple moving average of $89.84 and a 200-day simple moving average of $75.47. Rio Tinto PLC has a 12-month low of $51.67 and a 12-month high of $101.53.

Rio Tinto Announces Dividend

The company also recently announced a dividend, which will be paid on Thursday, April 16th. Investors of record on Friday, March 6th will be given a $2.54 dividend. The ex-dividend date of this dividend is Friday, March 6th. This represents a dividend yield of 527.0%.

About Rio Tinto

(Free Report)

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.

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

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