Institute for Wealth Management LLC. Boosts Stock Position in Rio Tinto plc ADR (NYSE:RIO)

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Institute for Wealth Management LLC. raised its stake in shares of Rio Tinto plc ADR (NYSE:RIO) by 94.2% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 13,015 shares of the mining company’s stock after acquiring an additional 6,312 shares during the period. Institute for Wealth Management LLC.’s holdings in Rio Tinto were worth $811,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Fisher Asset Management LLC increased its position in Rio Tinto by 4.7% during the 2nd quarter. Fisher Asset Management LLC now owns 10,567,108 shares of the mining company’s stock worth $658,754,000 after purchasing an additional 470,757 shares during the period. Dimensional Fund Advisors LP increased its position in Rio Tinto by 0.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,785,726 shares of the mining company’s stock worth $135,052,000 after purchasing an additional 13,612 shares during the period. Neuberger Berman Group LLC increased its position in Rio Tinto by 17.7% during the 1st quarter. Neuberger Berman Group LLC now owns 1,804,181 shares of the mining company’s stock worth $106,176,000 after purchasing an additional 271,226 shares during the period. Menora Mivtachim Holdings LTD. increased its position in Rio Tinto by 20.9% during the 1st quarter. Menora Mivtachim Holdings LTD. now owns 1,512,158 shares of the mining company’s stock worth $88,990,000 after purchasing an additional 261,240 shares during the period. Finally, Parametric Portfolio Associates LLC increased its position in Rio Tinto by 5.1% during the 1st quarter. Parametric Portfolio Associates LLC now owns 1,146,960 shares of the mining company’s stock worth $67,499,000 after purchasing an additional 56,043 shares during the period. 8.71% of the stock is owned by hedge funds and other institutional investors.

Several equities analysts have issued reports on RIO shares. UBS Group reiterated a “neutral” rating on shares of Rio Tinto in a research report on Friday, June 14th. Barclays cut Rio Tinto from an “equal weight” rating to an “underweight” rating in a research report on Thursday, June 6th. Zacks Investment Research cut Rio Tinto from a “buy” rating to a “hold” rating in a research report on Thursday, August 8th. BMO Capital Markets cut Rio Tinto from an “outperform” rating to a “market perform” rating in a research report on Thursday, June 27th. Finally, Jefferies Financial Group cut Rio Tinto from a “buy” rating to a “hold” rating in a research report on Tuesday, August 6th. Seven analysts have rated the stock with a sell rating, eleven have given a hold rating and three have given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $59.77.

Shares of RIO traded up $0.59 on Monday, reaching $49.41. The stock had a trading volume of 104,655 shares, compared to its average volume of 2,390,302. The firm has a market capitalization of $62.84 billion, a PE ratio of 9.75 and a beta of 0.83. The company has a quick ratio of 1.22, a current ratio of 1.55 and a debt-to-equity ratio of 0.30. The firm has a 50-day moving average of $57.33 and a 200 day moving average of $58.36. Rio Tinto plc ADR has a twelve month low of $44.62 and a twelve month high of $64.02.

Rio Tinto Profile

Rio Tinto Group engages in finding, mining, and processing mineral resources worldwide. The company offers aluminium, silver, molybdenum, copper, diamonds, gold, borates, titanium dioxide, salt, iron ore, and uranium. It is also involved in the alumina production; primary aluminium smelting; bauxite mining; alumina refining; and ilmenite mining, as well as provision of gypsum.

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

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