Dimensional Fund Advisors LP Sells 97,027 Shares of Rio Tinto PLC $RIO

Key Points

• Dimensional Fund Advisors reduced its Rio Tinto position by 5.5% in the first quarter, selling 97,027 shares while retaining 1.68 million shares worth approximately $156.8 million.
• Institutional ownership remains significant, with hedge funds and other institutions holding 19.33% of Rio Tinto’s stock; several smaller investment firms also recently initiated or increased positions.
• Analyst sentiment is mixed: Rio Tinto has a consensus rating of “Hold” and an average price target of $101.75, compared with the stock’s recent opening price of $91.25.

Dimensional Fund Advisors LP trimmed its position in Rio Tinto PLC (NYSE:RIO - Free Report) by 5.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,682,927 shares of the mining company's stock after selling 97,027 shares during the quarter. Dimensional Fund Advisors LP owned 0.13% of Rio Tinto worth $156,834,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of RIO. AdvisorNet Financial Inc increased its stake in shares of Rio Tinto by 160.2% during the first quarter. AdvisorNet Financial Inc now owns 294 shares of the mining company's stock valued at $27,000 after buying an additional 181 shares during the period. PFS Partners LLC bought a new position in shares of Rio Tinto in the 4th quarter worth about $28,000. Nvest Wealth Strategies Inc. purchased a new position in shares of Rio Tinto during the fourth quarter valued at approximately $28,000. Trust Co. of Toledo NA OH purchased a new position in Rio Tinto during the fourth quarter valued at $34,000. Finally, Evelyn Partners Investment Management LLP purchased a new stake in shares of Rio Tinto in the fourth quarter worth $34,000. Hedge funds and other institutional investors own 19.33% of the company's stock.

Wall Street Analysts Forecast Growth

RIO has been the subject of several analyst reports. Bank of America downgraded Rio Tinto from a "buy" rating to a "neutral" rating in a report on Friday, May 22nd. Sanford C. Bernstein increased their price objective on shares of Rio Tinto from $82.00 to $83.50 and gave the company an "outperform" rating in a research report on Monday, April 27th. Morgan Stanley downgraded shares of Rio Tinto from an "equal weight" rating to an "underweight" rating in a research report on Wednesday, July 8th. Weiss Ratings reissued a "buy (b-)" rating on shares of Rio Tinto in a report on Wednesday, May 20th. Finally, Citigroup reiterated a "neutral" rating on shares of Rio Tinto in a research note on Thursday, July 9th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, seven have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $101.75.

Rio Tinto Stock Up 0.0%

Rio Tinto stock opened at $91.25 on Monday. Rio Tinto PLC has a 12-month low of $58.40 and a 12-month high of $112.58. The firm has a 50 day moving average of $98.44 and a 200 day moving average of $95.86. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.44 and a quick ratio of 0.98.

Rio Tinto Company Profile

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.

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