Dimensional Fund Advisors LP Decreases Stock Holdings in Rio Tinto PLC $RIO

Dimensional Fund Advisors LP trimmed its holdings in shares of Rio Tinto PLC (NYSE:RIO) by 5.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,682,927 shares of the mining company’s stock after selling 97,027 shares during the quarter. Dimensional Fund Advisors LP’s holdings in Rio Tinto were worth $156,834,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Glen Eagle Advisors LLC grew its position in Rio Tinto by 32.2% in the 4th quarter. Glen Eagle Advisors LLC now owns 452 shares of the mining company’s stock valued at $36,000 after acquiring an additional 110 shares during the last quarter. Wealth Quarterback LLC lifted its position in shares of Rio Tinto by 1.8% in the 4th quarter. Wealth Quarterback LLC now owns 6,532 shares of the mining company’s stock worth $523,000 after purchasing an additional 118 shares during the period. Americana Partners LLC lifted its position in shares of Rio Tinto by 0.8% in the 4th quarter. Americana Partners LLC now owns 16,108 shares of the mining company’s stock worth $1,289,000 after purchasing an additional 120 shares during the period. Cary Street Partners Investment Advisory LLC boosted its stake in shares of Rio Tinto by 19.1% during the fourth quarter. Cary Street Partners Investment Advisory LLC now owns 772 shares of the mining company’s stock valued at $62,000 after purchasing an additional 124 shares in the last quarter. Finally, Bailard Inc. boosted its stake in shares of Rio Tinto by 1.1% during the fourth quarter. Bailard Inc. now owns 12,306 shares of the mining company’s stock valued at $985,000 after purchasing an additional 128 shares in the last quarter. Institutional investors own 19.33% of the company’s stock.

Rio Tinto Stock Performance

Rio Tinto stock opened at $91.25 on Monday. The stock’s 50 day simple moving average is $98.44 and its two-hundred day simple moving average is $95.86. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.98 and a current ratio of 1.44. Rio Tinto PLC has a 12 month low of $58.40 and a 12 month high of $112.58.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on RIO. Citigroup reissued a “neutral” rating on shares of Rio Tinto in a research note on Thursday, July 9th. Sanford C. Bernstein raised their price objective on Rio Tinto from $82.00 to $83.50 and gave the company an “outperform” rating in a research report on Monday, April 27th. Bank of America lowered shares of Rio Tinto from a “buy” rating to a “neutral” rating in a report on Friday, May 22nd. Morgan Stanley downgraded shares of Rio Tinto from an “equal weight” rating to an “underweight” rating in a report on Wednesday, July 8th. Finally, Royal Bank Of Canada downgraded Rio Tinto from a “sector perform” rating to an “underperform” rating in a research report on Wednesday, June 3rd. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, seven have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price 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.