Barometer Capital Management Inc. bought a new stake in Rio Tinto PLC (NYSE:RIO - Free Report) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 21,600 shares of the mining company's stock, valued at approximately $2,015,000.
A number of other large investors also recently made changes to their positions in RIO. Fisher Asset Management LLC increased its stake in Rio Tinto by 2.7% in the fourth quarter. Fisher Asset Management LLC now owns 19,642,744 shares of the mining company's stock valued at $1,572,009,000 after purchasing an additional 522,576 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its holdings in Rio Tinto by 170.8% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 3,886,335 shares of the mining company's stock valued at $311,023,000 after purchasing an additional 2,451,140 shares during the period. Bank of America Corp DE increased its position in Rio Tinto by 31.9% during the third quarter. Bank of America Corp DE now owns 3,157,545 shares of the mining company's stock worth $208,430,000 after purchasing an additional 763,786 shares during the last quarter. Bank of Montreal Can grew its stake in shares of Rio Tinto by 8.6% during the 4th quarter. Bank of Montreal Can now owns 2,221,469 shares of the mining company's stock valued at $177,784,000 after buying an additional 175,833 shares during the period. Finally, Deutsche Bank AG increased its holdings in shares of Rio Tinto by 102.6% during the 4th quarter. Deutsche Bank AG now owns 2,216,935 shares of the mining company's stock worth $177,421,000 after buying an additional 1,122,667 shares during the last quarter. Hedge funds and other institutional investors own 19.33% of the company's stock.
Rio Tinto Stock Performance
RIO opened at $90.54 on Wednesday. The firm's 50 day moving average is $99.44 and its 200-day moving average is $95.64. Rio Tinto PLC has a 52-week low of $58.40 and a 52-week high of $112.58. The company has a current ratio of 1.44, a quick ratio of 0.98 and a debt-to-equity ratio of 0.33.
Analyst Upgrades and Downgrades
Several equities research analysts have commented on the company. Sanford C. Bernstein upped their price target on Rio Tinto from $82.00 to $83.50 and gave the stock an "outperform" rating in a research note on Monday, April 27th. Weiss Ratings reiterated a "buy (b-)" rating on shares of Rio Tinto in a report on Wednesday, May 20th. Bank of America downgraded shares of Rio Tinto from a "buy" rating to a "neutral" rating in a research report on Friday, May 22nd. Royal Bank Of Canada cut shares of Rio Tinto from a "sector perform" rating to an "underperform" rating in a research report on Wednesday, June 3rd. Finally, Citigroup reissued a "neutral" rating on shares of Rio Tinto in a research report on Thursday, July 9th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, seven have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $101.75.
Read Our Latest Stock Analysis on RIO
Rio Tinto Company Profile
(
Free Report)
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.
Further Reading
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