BLB&B Advisors LLC increased its position in Rio Tinto plc ADR (NYSE:RIO) by 175.0% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 31,246 shares of the mining company’s stock after acquiring an additional 19,885 shares during the quarter. BLB&B Advisors LLC’s holdings in Rio Tinto were worth $1,594,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently made changes to their positions in RIO. Trust Department MB Financial Bank N A purchased a new stake in Rio Tinto in the 3rd quarter worth about $102,000. Gables Capital Management Inc. purchased a new stake in Rio Tinto in the 1st quarter worth about $103,000. Whittier Trust Co. increased its holdings in Rio Tinto by 605.9% in the 2nd quarter. Whittier Trust Co. now owns 2,047 shares of the mining company’s stock worth $111,000 after acquiring an additional 1,757 shares during the last quarter. Summit Trail Advisors LLC increased its holdings in Rio Tinto by 5,481.0% in the 1st quarter. Summit Trail Advisors LLC now owns 137,405 shares of the mining company’s stock worth $137,000 after acquiring an additional 134,943 shares during the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. purchased a new stake in Rio Tinto in the 2nd quarter worth about $166,000. 7.12% of the stock is owned by institutional investors.
RIO stock opened at $49.19 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 stock has a market cap of $67.37 billion, a price-to-earnings ratio of 10.33 and a beta of 1.08. Rio Tinto plc ADR has a twelve month low of $45.62 and a twelve month high of $60.72.
Several equities research analysts recently weighed in on the company. JPMorgan Chase & Co. raised Rio Tinto from a “neutral” rating to an “overweight” rating in a report on Monday, September 10th. ValuEngine lowered Rio Tinto from a “hold” rating to a “sell” rating in a report on Monday, October 8th. Deutsche Bank reissued a “neutral” rating on shares of Rio Tinto in a report on Monday, July 16th. Zacks Investment Research raised Rio Tinto from a “sell” rating to a “buy” rating and set a $64.00 price objective for the company in a report on Wednesday, June 20th. Finally, Investec lowered Rio Tinto from a “buy” rating to a “hold” rating in a report on Wednesday, September 5th. Four investment analysts have rated the stock with a sell rating, eight have given a hold rating and eight have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $57.06.
About Rio Tinto
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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