Canada Pension Plan Investment Board bought a new position in shares of Rio Tinto plc ADR (NYSE:RIO) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 155,000 shares of the mining company’s stock, valued at approximately $7,908,000.
Other institutional investors have also recently bought and sold shares of the company. Trust Department MB Financial Bank N A bought a new stake in Rio Tinto during the 3rd quarter worth approximately $102,000. Brown Advisory Inc. bought a new stake in Rio Tinto during the 2nd quarter worth approximately $201,000. BNP Paribas Arbitrage SA increased its holdings in Rio Tinto by 26.2% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 4,664 shares of the mining company’s stock worth $259,000 after acquiring an additional 968 shares during the period. 180 Wealth Advisors LLC bought a new stake in Rio Tinto during the 2nd quarter worth approximately $281,000. Finally, Sustainable Insight Capital Management LLC bought a new stake in Rio Tinto during the 3rd quarter worth approximately $259,000. 7.16% of the stock is currently owned by institutional investors and hedge funds.
A number of analysts recently weighed in on RIO shares. JPMorgan Chase & Co. lowered shares of Rio Tinto to a “buy” rating in a report on Thursday. ValuEngine raised shares of Rio Tinto from a “sell” rating to a “hold” rating in a report on Monday, September 24th. Goldman Sachs Group raised shares of Rio Tinto from a “neutral” rating to a “buy” rating in a report on Tuesday, October 9th. Liberum Capital raised shares of Rio Tinto from a “sell” rating to a “hold” rating in a report on Wednesday, August 22nd. Finally, Societe Generale lowered shares of Rio Tinto from a “buy” rating to a “hold” rating in a report on Wednesday, October 24th. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have given a buy rating to the stock. Rio Tinto has an average rating of “Hold” and a consensus price target of $58.80.
Shares of NYSE:RIO opened at $45.97 on Friday. The firm has a market capitalization of $61.43 billion, a PE ratio of 9.60 and a beta of 0.99. Rio Tinto plc ADR has a one year low of $45.25 and a one year high of $60.72. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.41 and a current ratio of 1.77.
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Rio Tinto Company Profile
Rio Tinto plc, a mining and metals company, explores for, develops, produces, and processes minerals and metals worldwide. It finds, mines, and processes mineral resources, including aluminum, copper, diamonds, gold, industrial minerals (borates, titanium dioxide, and salt), iron ore, thermal and metallurgical coal, and uranium, as well as sulphuric acid, rhenium, lead carbonate, and selenium.
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