Trust Investment Advisors lessened its holdings in Rio Tinto PLC (NYSE:RIO) by 9.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 55,050 shares of the mining company’s stock after selling 5,550 shares during the period. Rio Tinto PLC comprises 2.9% of Trust Investment Advisors’ holdings, making the stock its 3rd biggest holding. Trust Investment Advisors’ holdings in Rio Tinto PLC were worth $2,598,000 as of its most recent SEC filing.
A number of other institutional investors have also added to or reduced their stakes in the business. Jennison Associates LLC grew its position in Rio Tinto PLC by 35.7% in the third quarter. Jennison Associates LLC now owns 2,139,716 shares of the mining company’s stock valued at $100,973,000 after acquiring an additional 563,461 shares during the last quarter. Telos Capital Management Inc. bought a new position in Rio Tinto PLC in the third quarter valued at about $211,000. Minneapolis Portfolio Management Group LLC grew its position in Rio Tinto PLC by 1.2% in the third quarter. Minneapolis Portfolio Management Group LLC now owns 690,364 shares of the mining company’s stock valued at $32,578,000 after acquiring an additional 7,858 shares during the last quarter. Bremer Trust National Association grew its position in Rio Tinto PLC by 20.2% in the third quarter. Bremer Trust National Association now owns 30,122 shares of the mining company’s stock valued at $1,421,000 after acquiring an additional 5,058 shares during the last quarter. Finally, Crossmark Global Holdings Inc. bought a new position in Rio Tinto PLC in the third quarter valued at about $3,490,000. Hedge funds and other institutional investors own 7.02% of the company’s stock.
A number of research analysts have issued reports on RIO shares. Axiom Securities reiterated a “sell” rating on shares of Rio Tinto PLC in a research report on Tuesday, July 25th. ValuEngine cut Rio Tinto PLC from a “strong-buy” rating to a “buy” rating in a research report on Friday, September 1st. Zacks Investment Research upgraded Rio Tinto PLC from a “hold” rating to a “strong-buy” rating and set a $56.00 target price on the stock in a research report on Saturday, October 7th. Royal Bank Of Canada cut Rio Tinto PLC from an “outperform” rating to a “sector perform” rating and boosted their price target for the stock from $47.87 to $48.37 in a report on Monday, October 23rd. Finally, Citigroup Inc. cut Rio Tinto PLC from a “buy” rating to a “neutral” rating in a report on Tuesday, October 17th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Buy” and an average price target of $50.07.
Shares of Rio Tinto PLC (NYSE RIO) traded down $1.38 on Tuesday, reaching $47.83. The company’s stock had a trading volume of 1,755,816 shares, compared to its average volume of 3,332,728. Rio Tinto PLC has a 12-month low of $36.25 and a 12-month high of $50.77. The company has a current ratio of 1.71, a quick ratio of 1.34 and a debt-to-equity ratio of 0.31.
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Rio Tinto PLC Company 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.
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