Rio Tinto PLC $RIO Shares Bought by Todd Asset Management LLC

Todd Asset Management LLC grew its position in Rio Tinto PLC (NYSE:RIO) by 2.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,093,903 shares of the mining company’s stock after purchasing an additional 25,367 shares during the period. Rio Tinto makes up approximately 1.5% of Todd Asset Management LLC’s holdings, making the stock its 7th largest holding. Todd Asset Management LLC owned approximately 0.09% of Rio Tinto worth $72,209,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Cubist Systematic Strategies LLC purchased a new stake in Rio Tinto during the first quarter worth approximately $84,000. AQR Capital Management LLC increased its holdings in Rio Tinto by 78.4% in the 1st quarter. AQR Capital Management LLC now owns 12,087 shares of the mining company’s stock valued at $726,000 after purchasing an additional 5,310 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Rio Tinto by 20.7% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 11,485 shares of the mining company’s stock valued at $690,000 after purchasing an additional 1,968 shares during the period. Empowered Funds LLC lifted its stake in shares of Rio Tinto by 5.8% during the first quarter. Empowered Funds LLC now owns 5,280 shares of the mining company’s stock worth $317,000 after purchasing an additional 288 shares in the last quarter. Finally, Focus Partners Wealth boosted its position in shares of Rio Tinto by 16.7% in the first quarter. Focus Partners Wealth now owns 15,985 shares of the mining company’s stock worth $962,000 after buying an additional 2,285 shares during the period. Institutional investors and hedge funds own 19.33% of the company’s stock.

Rio Tinto Price Performance

Shares of RIO stock opened at $98.03 on Monday. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.53 and a quick ratio of 1.03. The business has a 50 day simple moving average of $85.41 and a 200 day simple moving average of $73.02. Rio Tinto PLC has a 12-month low of $51.67 and a 12-month high of $100.33.

Analyst Ratings Changes

Several research firms recently commented on RIO. HSBC lowered Rio Tinto from a “buy” rating to a “hold” rating in a research report on Monday, January 26th. Argus boosted their price objective on shares of Rio Tinto from $70.00 to $85.00 and gave the stock a “buy” rating in a report on Thursday, December 11th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Rio Tinto in a research report on Monday, December 29th. Royal Bank Of Canada restated a “sector perform” rating on shares of Rio Tinto in a research note on Thursday, January 22nd. Finally, Morgan Stanley lowered Rio Tinto from an “overweight” rating to an “equal weight” rating in a research report on Wednesday, January 28th. Three equities research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $85.00.

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.