RIO Stock: Rio Tinto PLC Stake Lessened by Trust Investment Advisors

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RIO Stock: Rio Tinto PLC Stake Lessened by Trust Investment Advisors


Trust Investment Advisors lessened its stake in Rio Tinto PLC (NYSE:RIO) by 9.2% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 55,050 shares of the mining company’s stock after selling 5,550 shares during the quarter. Rio Tinto PLC accounts for 2.9% of Trust Investment Advisors’ investment portfolio, making the stock its 3rd largest position. Trust Investment Advisors’ holdings in Rio Tinto PLC were worth $2,598,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Knowledge Leaders Capital LLC raised its stake in shares of Rio Tinto PLC by 126.0% during the second quarter. Knowledge Leaders Capital LLC now owns 2,393 shares of the mining company’s stock valued at $101,000 after purchasing an additional 1,334 shares during the period. Acrospire Investment Management LLC grew its position in shares of Rio Tinto PLC by 13.0% during the second quarter. Acrospire Investment Management LLC now owns 2,599 shares of the mining company’s stock worth $110,000 after buying an additional 299 shares in the last quarter. Hudock Capital Group LLC boosted its holdings in Rio Tinto PLC by 125.4% in the second quarter. Hudock Capital Group LLC now owns 2,795 shares of the mining company’s stock worth $118,000 after purchasing an additional 1,555 shares during the period. The Manufacturers Life Insurance Company boosted its holdings in Rio Tinto PLC by 212.1% in the second quarter. The Manufacturers Life Insurance Company now owns 3,187 shares of the mining company’s stock worth $135,000 after purchasing an additional 2,166 shares during the period. Finally, Northwestern Mutual Wealth Management Co. boosted its holdings in Rio Tinto PLC by 120.1% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 3,753 shares of the mining company’s stock worth $159,000 after purchasing an additional 2,048 shares during the period. 7.04% of the stock is currently owned by hedge funds and other institutional investors.

Rio Tinto PLC (NYSE:RIO) traded up $0.96 during trading hours on Thursday, hitting $49.01. The company had a trading volume of 1,934,500 shares, compared to its average volume of 3,304,158. Rio Tinto PLC has a fifty-two week low of $37.66 and a fifty-two week high of $50.77. The company has a quick ratio of 1.34, a current ratio of 1.71 and a debt-to-equity ratio of 0.31.

A number of equities research analysts recently weighed in on RIO shares. Clarkson Capital restated a “buy” rating on shares of Rio Tinto PLC in a research note on Wednesday, August 2nd. Cowen and Company set a $47.00 price target on Rio Tinto PLC and gave the stock a “hold” rating in a research note on Monday, October 16th. Goldman Sachs Group, Inc. (The) restated a “neutral” rating on shares of Rio Tinto PLC in a report on Monday, August 14th. Societe Generale upgraded Rio Tinto PLC from a “hold” rating to a “buy” rating in a research note on Wednesday, November 8th. Finally, Canaccord Genuity cut Rio Tinto PLC from a “buy” rating to a “hold” rating in a research report on Tuesday, September 26th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $50.07.

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.

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



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