Fisher Asset Management LLC Grows Holdings in Rio Tinto PLC $RIO

Fisher Asset Management LLC grew its holdings in Rio Tinto PLC (NYSE:RIO) by 2.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 19,642,744 shares of the mining company’s stock after purchasing an additional 522,576 shares during the period. Fisher Asset Management LLC’s holdings in Rio Tinto were worth $1,572,009,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of RIO. PFS Partners LLC purchased a new stake in Rio Tinto in the fourth quarter worth $28,000. Nvest Wealth Strategies Inc. purchased a new stake in Rio Tinto in the fourth quarter worth $28,000. Trust Co. of Toledo NA OH purchased a new stake in Rio Tinto in the fourth quarter worth $34,000. Root Financial Partners LLC purchased a new stake in Rio Tinto in the third quarter worth $36,000. Finally, Migdal Insurance & Financial Holdings Ltd. purchased a new stake in Rio Tinto in the fourth quarter worth $37,000. Hedge funds and other institutional investors own 19.33% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on RIO shares. Sanford C. Bernstein increased their target price on Rio Tinto from $82.00 to $83.50 and gave the stock an “outperform” rating in a research note on Monday, April 27th. Zacks Research lowered Rio Tinto from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 7th. Argus set a $120.00 target price on Rio Tinto in a research note on Monday, April 27th. Weiss Ratings restated a “buy (b-)” rating on shares of Rio Tinto in a research note on Wednesday. Finally, JPMorgan Chase & Co. lowered Rio Tinto from an “overweight” rating to a “neutral” rating in a research note on Monday, March 9th. Four analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the stock. According to MarketBeat, Rio Tinto presently has a consensus rating of “Hold” and an average price target of $101.75.

Rio Tinto Stock Performance

Shares of Rio Tinto stock opened at $104.24 on Monday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.98 and a current ratio of 1.44. Rio Tinto PLC has a 12 month low of $55.64 and a 12 month high of $112.58. The stock’s fifty day moving average price is $97.13 and its 200-day moving average price is $88.44.

About Rio Tinto

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.