Fisher Asset Management LLC Buys 231,968 Shares of Rio Tinto PLC $RIO

Fisher Asset Management LLC lifted its stake in shares of Rio Tinto PLC (NYSE:RIO) by 1.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 20,907,963 shares of the mining company’s stock after buying an additional 231,968 shares during the period. Fisher Asset Management LLC owned about 1.67% of Rio Tinto worth $1,968,903,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of RIO. Bank of America Corp DE grew its stake in shares of Rio Tinto by 6.6% in the 1st quarter. Bank of America Corp DE now owns 3,623,294 shares of the mining company’s stock worth $338,017,000 after acquiring an additional 225,016 shares in the last quarter. Altshuler Shaham Ltd bought a new stake in Rio Tinto during the 1st quarter valued at $106,724,000. Renaissance Technologies LLC lifted its holdings in Rio Tinto by 417.6% during the 1st quarter. Renaissance Technologies LLC now owns 965,800 shares of the mining company’s stock worth $90,099,000 after purchasing an additional 779,200 shares in the last quarter. Sei Investments Co. boosted its position in shares of Rio Tinto by 1.1% in the first quarter. Sei Investments Co. now owns 564,191 shares of the mining company’s stock valued at $52,635,000 after acquiring an additional 6,407 shares during the period. Finally, Cidel Asset Management Inc. boosted its holdings in Rio Tinto by 0.3% in the 3rd quarter. Cidel Asset Management Inc. now owns 242,347 shares of the mining company’s stock valued at $22,822,000 after purchasing an additional 629 shares during the period. Institutional investors own 19.33% of the company’s stock.

Rio Tinto Price Performance

RIO opened at $83.31 on Friday. The company has a 50 day simple moving average of $91.74 and a two-hundred day simple moving average of $96.10. The company has a current ratio of 1.42, a quick ratio of 0.93 and a debt-to-equity ratio of 0.29. Rio Tinto PLC has a 1-year low of $68.70 and a 1-year high of $112.58.

Analyst Upgrades and Downgrades

A number of research firms have commented on RIO. Argus raised shares of Rio Tinto to a “strong-buy” rating in a research note on Thursday, August 20th. Citigroup reissued a “neutral” rating on shares of Rio Tinto in a research note on Tuesday, October 13th. Weiss Ratings reissued a “buy (b)” rating on shares of Rio Tinto in a research note on Wednesday, October 28th. The Goldman Sachs Group upgraded shares of Rio Tinto from a “neutral” rating to a “buy” rating in a report on Wednesday, July 29th. Finally, Berenberg Bank restated a “buy” rating on shares of Rio Tinto in a research report on Wednesday, September 30th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, thirteen have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Rio Tinto currently has a consensus rating of “Hold” and an average target price of $101.62.

About Rio Tinto

Rio Tinto is a global mining and materials company whose history dates to 1873, when it was formed to develop copper mines along the Rio Tinto in Spain. Today, its operations and projects span multiple continents, and it supplies materials to customers around the world. The company produces iron ore, aluminum, copper and a range of other minerals and materials, including borates and lithium. Its activities cover exploration, mining, processing and, for some products, refining and manufacturing. Rio Tinto has a significant presence in Australia and operates in regions including North America, South America, Africa and Europe.