Raymond James Trust N.A. acquired a new position in shares of Rio Tinto plc ADR (NYSE:RIO) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 3,411 shares of the mining company’s stock, valued at approximately $203,000.
A number of other institutional investors also recently bought and sold shares of RIO. Nelson Van Denburg & Campbell Wealth Management Group LLC purchased a new stake in Rio Tinto during the 2nd quarter worth about $25,000. First Interstate Bank purchased a new stake in Rio Tinto during the 3rd quarter worth about $26,000. Quest Capital Management Inc. ADV purchased a new stake in Rio Tinto during the 3rd quarter worth about $26,000. CWM LLC increased its position in Rio Tinto by 148.4% during the 3rd quarter. CWM LLC now owns 554 shares of the mining company’s stock worth $29,000 after purchasing an additional 331 shares in the last quarter. Finally, Doyle Wealth Management purchased a new stake in Rio Tinto during the 2nd quarter worth about $39,000. Hedge funds and other institutional investors own 7.32% of the company’s stock.
RIO opened at $60.67 on Tuesday. 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 stock has a market capitalization of $77.17 billion, a price-to-earnings ratio of 11.97 and a beta of 0.90. The business has a 50-day moving average of $58.27 and a two-hundred day moving average of $54.71. Rio Tinto plc ADR has a 12 month low of $47.88 and a 12 month high of $64.02.
In other news, insider Clark Megan bought 525 shares of the firm’s stock in a transaction dated Monday, November 18th. The stock was acquired at an average price of $94.33 per share, for a total transaction of $49,523.25.
A number of analysts recently commented on RIO shares. HSBC cut Rio Tinto from a “buy” rating to a “hold” rating in a research report on Thursday, December 19th. Jefferies Financial Group upgraded Rio Tinto from a “hold” rating to a “buy” rating and set a $57.00 price objective for the company in a research report on Friday, October 11th. Investec upgraded Rio Tinto from a “hold” rating to a “buy” rating in a research report on Friday, October 4th. ValuEngine upgraded Rio Tinto from a “strong sell” rating to a “sell” rating in a report on Tuesday, December 24th. Finally, Morgan Stanley initiated coverage on Rio Tinto in a report on Thursday, November 7th. They issued an “equal weight” rating for the company. Six investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating and six have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $867.26.
About Rio Tinto
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.
Further Reading: Price to Earnings Ratio (PE) Basics
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