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

Fisher Asset Management LLC increased its stake in Rio Tinto PLC (NYSE:RIO) by 1.1% in the third quarter, Holdings Channel reports. The firm owned 20,907,963 shares of the mining company’s stock after purchasing an additional 231,968 shares during the period. Fisher Asset Management LLC’s holdings in Rio Tinto were worth $1,968,903,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Timbuktu Capital Management LLC acquired a new stake in Rio Tinto during the 2nd quarter worth about $28,000. Center for Financial Planning Inc. purchased a new stake in Rio Tinto during the 3rd quarter valued at about $28,000. V Square Quantitative Management LLC purchased a new stake in Rio Tinto during the 3rd quarter valued at about $35,000. Lodestone Wealth Management LLC increased its holdings in shares of Rio Tinto by 92.8% in the third quarter. Lodestone Wealth Management LLC now owns 374 shares of the mining company’s stock valued at $35,000 after purchasing an additional 180 shares during the period. Finally, Bank of New Hampshire increased its holdings in shares of Rio Tinto by 72.7% in the third quarter. Bank of New Hampshire now owns 475 shares of the mining company’s stock valued at $45,000 after purchasing an additional 200 shares during the period. 19.33% of the stock is currently owned by institutional investors and hedge funds.

Rio Tinto Trading Down 2.0%

NYSE RIO opened at $83.31 on Friday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.93 and a current ratio of 1.42. The stock’s 50 day simple moving average is $91.74 and its 200-day simple moving average is $96.10. Rio Tinto PLC has a 1-year low of $68.70 and a 1-year high of $112.58.

Analyst Upgrades and Downgrades

RIO has been the subject of a number of recent research reports. DZ Bank reissued a “buy” rating on shares of Rio Tinto in a research report on Tuesday, September 15th. Argus raised shares of Rio Tinto to a “strong-buy” rating in a report on Thursday, August 20th. Sanford C. Bernstein increased their price target on Rio Tinto from $88.50 to $89.50 and gave the stock an “outperform” rating in a research report on Wednesday, September 9th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Rio Tinto in a research report on Wednesday, October 28th. Finally, Citigroup reiterated a “neutral” rating on shares of Rio Tinto in a research note on Tuesday, October 13th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, thirteen have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $101.62.

Rio Tinto Company Profile

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.