Sumitomo Mitsui Trust Holdings Inc. Reduces Holdings in Rio Tinto plc ADR (NYSE:RIO)

Sumitomo Mitsui Trust Holdings Inc. decreased its holdings in shares of Rio Tinto plc ADR (NYSE:RIO) by 9.4% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 349,857 shares of the mining company’s stock after selling 36,213 shares during the period. Sumitomo Mitsui Trust Holdings Inc.’s holdings in Rio Tinto were worth $18,224,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the company. LPL Financial LLC lifted its holdings in shares of Rio Tinto by 36.9% during the second quarter. LPL Financial LLC now owns 107,353 shares of the mining company’s stock worth $6,692,000 after purchasing an additional 28,923 shares during the period. Greenleaf Trust lifted its holdings in shares of Rio Tinto by 57.3% during the second quarter. Greenleaf Trust now owns 38,941 shares of the mining company’s stock worth $2,428,000 after purchasing an additional 14,183 shares during the period. Susquehanna Fundamental Investments LLC acquired a new stake in shares of Rio Tinto during the second quarter worth about $5,978,000. Northern Trust Corp lifted its holdings in shares of Rio Tinto by 10.4% during the second quarter. Northern Trust Corp now owns 1,382,151 shares of the mining company’s stock worth $86,163,000 after purchasing an additional 129,673 shares during the period. Finally, DRW Securities LLC acquired a new stake in shares of Rio Tinto during the second quarter worth about $234,000. Institutional investors and hedge funds own 8.22% of the company’s stock.

Shares of RIO stock opened at $54.11 on Friday. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.55 and a quick ratio of 1.22. The company has a market cap of $68.75 billion, a price-to-earnings ratio of 10.67 and a beta of 0.87. The stock has a 50 day simple moving average of $52.14 and a 200-day simple moving average of $55.68. Rio Tinto plc ADR has a 1-year low of $44.62 and a 1-year high of $64.02.

A number of research firms recently commented on RIO. Zacks Investment Research raised Rio Tinto from a “sell” rating to a “hold” rating in a report on Friday, September 27th. Goldman Sachs Group reissued a “buy” rating on shares of Rio Tinto in a report on Monday, October 28th. Fundamental Research reissued a “buy” rating on shares of Rio Tinto in a report on Tuesday, October 29th. Citigroup reissued a “buy” rating on shares of Rio Tinto in a report on Saturday, November 2nd. Finally, UBS Group reissued a “neutral” rating and issued a $4,100.00 price target on shares of Rio Tinto in a report on Saturday, November 2nd. Seven equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and nine have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $1,923.04.

Rio Tinto Profile

Rio Tinto Group engages in finding, mining, and processing mineral resources worldwide. The company offers aluminium, silver, molybdenum, copper, diamonds, gold, borates, titanium dioxide, salt, iron ore, and uranium. It is also involved in the alumina production; primary aluminium smelting; bauxite mining; alumina refining; and ilmenite mining, as well as provision of gypsum.

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

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