114,851 Shares in Rio Tinto plc (RIO) Purchased by L & S Advisors Inc

L & S Advisors Inc bought a new stake in shares of Rio Tinto plc (NYSE:RIO) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 114,851 shares of the mining company’s stock, valued at approximately $5,420,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in RIO. Knowledge Leaders Capital LLC boosted its position in shares of Rio Tinto by 126.0% during the second quarter. Knowledge Leaders Capital LLC now owns 2,393 shares of the mining company’s stock worth $101,000 after acquiring an additional 1,334 shares during the last quarter. Acrospire Investment Management LLC raised its stake in Rio Tinto by 13.0% during the second quarter. Acrospire Investment Management LLC now owns 2,599 shares of the mining company’s stock valued at $110,000 after purchasing an additional 299 shares in the last quarter. Hudock Capital Group LLC raised its stake in Rio Tinto by 125.4% during the second quarter. Hudock Capital Group LLC now owns 2,795 shares of the mining company’s stock valued at $118,000 after purchasing an additional 1,555 shares in the last quarter. The Manufacturers Life Insurance Company raised its stake in Rio Tinto by 212.1% during the second quarter. The Manufacturers Life Insurance Company now owns 3,187 shares of the mining company’s stock valued at $135,000 after purchasing an additional 2,166 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. raised its stake in Rio Tinto by 120.1% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 3,753 shares of the mining company’s stock valued at $159,000 after purchasing an additional 2,048 shares in the last quarter. Institutional investors own 7.22% of the company’s stock.

Shares of Rio Tinto plc (RIO) traded up $0.17 on Friday, reaching $52.93. 2,964,184 shares of the company’s stock traded hands, compared to its average volume of 2,457,430. Rio Tinto plc has a 52 week low of $37.66 and a 52 week high of $53.69. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.34 and a current ratio of 1.71.

Several equities research analysts have recently weighed in on the stock. Societe Generale raised shares of Rio Tinto from a “hold” rating to a “buy” rating in a research note on Wednesday, November 8th. Citigroup downgraded shares of Rio Tinto from a “buy” rating to a “neutral” rating in a research note on Tuesday, October 17th. Cowen set a $47.00 target price on shares of Rio Tinto and gave the stock a “hold” rating in a report on Monday, October 16th. Clarkson Capital cut shares of Rio Tinto from a “buy” rating to a “neutral” rating in a report on Monday, October 16th. Finally, ValuEngine cut shares of Rio Tinto from a “strong-buy” rating to a “buy” rating in a report on Friday, September 1st. One analyst has rated the stock with a sell rating, six have given a hold rating and twelve have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $51.59.

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Rio Tinto Profile

Rio Tinto plc is a mining and metals company. The Company’s business is finding, mining and processing mineral resources. The Company’s segments include Iron Ore, Aluminium, Copper & Diamonds, Energy & Minerals and Other Operations. The Company operates an iron ore business, supplying the global seaborne iron ore trade.

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

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