AlphaStar Capital Management LLC Takes $288,000 Position in Rio Tinto PLC (RIO)

AlphaStar Capital Management LLC bought a new position in Rio Tinto PLC (NYSE:RIO) in the third quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 6,105 shares of the mining company’s stock, valued at approximately $288,000.

Other hedge funds have also recently modified their holdings of the company. Dynamic Technology Lab Private Ltd raised its stake in Rio Tinto by 18.8% in the 2nd quarter. Dynamic Technology Lab Private Ltd now owns 9,500 shares of the mining company’s stock worth $402,000 after acquiring an additional 1,503 shares during the last quarter. Russell Investments Group Ltd. raised its stake in Rio Tinto by 124.2% in the 3rd quarter. Russell Investments Group Ltd. now owns 1,092,553 shares of the mining company’s stock worth $51,543,000 after acquiring an additional 605,170 shares during the last quarter. Todd Asset Management LLC raised its stake in Rio Tinto by 2.7% in the 2nd quarter. Todd Asset Management LLC now owns 1,120,708 shares of the mining company’s stock worth $47,417,000 after acquiring an additional 29,807 shares during the last quarter. Cadence Capital Management LLC purchased a new position in Rio Tinto in the 2nd quarter worth $517,000. Finally, FNY Partners Fund LP raised its stake in Rio Tinto by 87.4% in the 2nd quarter. FNY Partners Fund LP now owns 98,967 shares of the mining company’s stock worth $4,187,000 after acquiring an additional 46,169 shares during the last quarter. Institutional investors own 7.20% of the company’s stock.

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

Rio Tinto PLC (NYSE RIO) traded up $0.11 during midday trading on Monday, hitting $47.17. The company’s stock had a trading volume of 2,329,000 shares, compared to its average volume of 3,251,687. Rio Tinto PLC has a twelve month low of $37.66 and a twelve month high of $50.77. The company has a quick ratio of 1.34, a current ratio of 1.71 and a debt-to-equity ratio of 0.31.

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Rio Tinto Company Profile

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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