Rio Tinto PLC $RIO Shares Sold by Franklin Resources Inc.

Franklin Resources Inc. lowered its holdings in Rio Tinto PLC (NYSE:RIO) by 19.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,395,655 shares of the mining company’s stock after selling 341,141 shares during the period. Franklin Resources Inc. owned approximately 0.11% of Rio Tinto worth $111,694,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Caprock Group LLC acquired a new stake in shares of Rio Tinto in the third quarter worth $1,416,000. Grantham Mayo Van Otterloo & Co. LLC boosted its stake in shares of Rio Tinto by 21.6% in the third quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 1,126,445 shares of the mining company’s stock valued at $74,357,000 after purchasing an additional 199,962 shares during the period. Shrier Wealth Management LLC purchased a new position in shares of Rio Tinto in the fourth quarter valued at $1,280,000. Fisher Asset Management LLC boosted its stake in shares of Rio Tinto by 3.0% in the third quarter. Fisher Asset Management LLC now owns 19,120,168 shares of the mining company’s stock valued at $1,262,122,000 after purchasing an additional 557,234 shares during the period. Finally, QSM Asset Management Ltd boosted its stake in shares of Rio Tinto by 32.1% in the fourth quarter. QSM Asset Management Ltd now owns 230,700 shares of the mining company’s stock valued at $18,463,000 after purchasing an additional 56,000 shares during the period. Institutional investors and hedge funds own 19.33% of the company’s stock.

Rio Tinto Stock Down 2.1%

NYSE RIO opened at $99.26 on Thursday. Rio Tinto PLC has a 12 month low of $55.64 and a 12 month high of $112.58. The company has a current ratio of 1.44, a quick ratio of 0.98 and a debt-to-equity ratio of 0.33. The company’s fifty day moving average price is $101.75 and its two-hundred day moving average price is $91.68.

Analysts Set New Price Targets

RIO has been the subject of several analyst reports. Deutsche Bank Aktiengesellschaft restated a “hold” rating on shares of Rio Tinto in a research note on Friday, May 15th. Zacks Research downgraded shares of Rio Tinto from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 7th. JPMorgan Chase & Co. downgraded shares of Rio Tinto from an “overweight” rating to a “neutral” rating in a research note on Monday, March 9th. Argus set a $120.00 target price on shares of Rio Tinto in a research note on Monday, April 27th. Finally, Citigroup restated a “neutral” rating on shares of Rio Tinto in a research note on Tuesday, May 26th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $101.75.

Rio Tinto 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.