L & S Advisors Inc Purchases Shares of 114,851 Rio Tinto PLC (RIO)

L & S Advisors Inc purchased a new position in shares of Rio Tinto PLC (NYSE:RIO) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 114,851 shares of the mining company’s stock, valued at approximately $5,420,000.

A number of other hedge funds have also made changes to their positions in the business. Envestnet Asset Management Inc. boosted its position in Rio Tinto by 23.4% during the 3rd quarter. Envestnet Asset Management Inc. now owns 88,969 shares of the mining company’s stock worth $4,198,000 after acquiring an additional 16,896 shares during the period. Private Advisor Group LLC raised its stake in shares of Rio Tinto by 23.5% in the 3rd quarter. Private Advisor Group LLC now owns 15,436 shares of the mining company’s stock worth $740,000 after buying an additional 2,936 shares in the last quarter. Stifel Financial Corp raised its stake in shares of Rio Tinto by 9.0% in the 3rd quarter. Stifel Financial Corp now owns 259,333 shares of the mining company’s stock worth $12,253,000 after buying an additional 21,469 shares in the last quarter. Commerzbank Aktiengesellschaft FI raised its stake in shares of Rio Tinto by 2.1% in the 3rd quarter. Commerzbank Aktiengesellschaft FI now owns 55,415 shares of the mining company’s stock worth $2,615,000 after buying an additional 1,135 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in shares of Rio Tinto by 16.5% in the 3rd quarter. Dimensional Fund Advisors LP now owns 2,503,490 shares of the mining company’s stock worth $118,140,000 after buying an additional 353,835 shares in the last quarter. Institutional investors own 7.19% of the company’s stock.

Rio Tinto PLC (RIO) traded up $0.25 during trading hours on Thursday, reaching $47.45. The company had a trading volume of 3,001,200 shares, compared to its average volume of 3,258,036. Rio Tinto PLC has a 52-week low of $37.66 and a 52-week high of $50.77. The company has a current ratio of 1.71, a quick ratio of 1.34 and a debt-to-equity ratio of 0.31.

A number of brokerages have recently issued reports on RIO. Goldman Sachs Group reaffirmed a “neutral” rating on shares of Rio Tinto in a research report on Monday, August 14th. Royal Bank Of Canada lowered Rio Tinto from a “top pick” rating to an “outperform” rating in a research report on Tuesday, August 15th. Jefferies Group set a $52.00 target price on Rio Tinto and gave the stock a “buy” rating in a research report on Friday, August 18th. ValuEngine lowered Rio Tinto from a “strong-buy” rating to a “buy” rating in a research report on Friday, September 1st. Finally, Canaccord Genuity lowered Rio Tinto from a “buy” rating to a “hold” rating in a research report on Tuesday, September 26th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $51.59.

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About Rio Tinto

Rio Tinto plc is a mining and metals company. The Company’s business is finding, mining and processing mineral resources. The Company’s segments include Iron Ore, Aluminium, Copper & Diamonds, Energy & Minerals and Other Operations. The Company operates an iron ore business, supplying the global seaborne iron ore trade.

Institutional Ownership by Quarter for Rio Tinto (NYSE:RIO)

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