O Shaughnessy Asset Management LLC lifted its stake in Rio Tinto plc ADR (NYSE:RIO) by 23.8% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 217,996 shares of the mining company’s stock after buying an additional 41,935 shares during the quarter. O Shaughnessy Asset Management LLC’s holdings in Rio Tinto were worth $11,122,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently modified their holdings of the company. Trust Department MB Financial Bank N A purchased a new position in Rio Tinto during the third quarter worth approximately $102,000. Whittier Trust Co. boosted its position in Rio Tinto by 605.9% during the second quarter. Whittier Trust Co. now owns 2,047 shares of the mining company’s stock worth $111,000 after purchasing an additional 1,757 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. purchased a new position in Rio Tinto during the second quarter worth approximately $166,000. Brown Advisory Inc. purchased a new position in Rio Tinto during the second quarter worth approximately $201,000. Finally, Whittier Trust Co. of Nevada Inc. boosted its position in Rio Tinto by 2,042.5% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 3,985 shares of the mining company’s stock worth $216,000 after purchasing an additional 3,799 shares in the last quarter. Hedge funds and other institutional investors own 7.46% of the company’s stock.
RIO has been the topic of a number of recent analyst reports. Goldman Sachs Group upgraded Rio Tinto from a “neutral” rating to a “buy” rating in a research report on Tuesday, October 9th. JPMorgan Chase & Co. raised Rio Tinto from a “neutral” rating to an “overweight” rating in a report on Monday, September 10th. ValuEngine raised Rio Tinto from a “sell” rating to a “hold” rating in a report on Monday, September 24th. Investec cut Rio Tinto from a “buy” rating to a “hold” rating in a report on Wednesday, September 5th. Finally, Zacks Investment Research cut Rio Tinto from a “hold” rating to a “strong sell” rating in a report on Tuesday, August 7th. Four research analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $58.80.
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About Rio Tinto
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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