Crossmark Global Holdings Inc. lifted its stake in Rio Tinto plc ADR (NYSE:RIO) by 20.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 62,318 shares of the mining company’s stock after buying an additional 10,516 shares during the period. Crossmark Global Holdings Inc.’s holdings in Rio Tinto were worth $3,699,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds also recently modified their holdings of the company. First Interstate Bank acquired a new position in Rio Tinto during the third quarter valued at approximately $26,000. Quest Capital Management Inc. ADV acquired a new position in Rio Tinto during the third quarter valued at approximately $26,000. CWM LLC raised its position in Rio Tinto by 148.4% during the third quarter. CWM LLC now owns 554 shares of the mining company’s stock valued at $29,000 after purchasing an additional 331 shares in the last quarter. Manchester Financial Inc. acquired a new position in Rio Tinto during the fourth quarter valued at approximately $39,000. Finally, IFP Advisors Inc raised its position in Rio Tinto by 26.4% during the fourth quarter. IFP Advisors Inc now owns 843 shares of the mining company’s stock valued at $50,000 after purchasing an additional 176 shares in the last quarter. Institutional investors and hedge funds own 7.35% of the company’s stock.
Several brokerages have commented on RIO. JPMorgan Chase & Co. downgraded shares of Rio Tinto from an “overweight” rating to a “neutral” rating in a research report on Tuesday, December 17th. Citigroup downgraded shares of Rio Tinto from a “buy” rating to a “neutral” rating in a research report on Wednesday, December 11th. Fundamental Research restated a “buy” rating on shares of Rio Tinto in a research report on Tuesday, October 29th. HSBC downgraded shares of Rio Tinto from a “buy” rating to a “hold” rating in a research report on Thursday, December 19th. Finally, BMO Capital Markets downgraded shares of Rio Tinto from an “outperform” rating to a “market perform” rating in a research report on Tuesday, January 21st. Five research analysts have rated the stock with a sell rating, fifteen have given a hold rating and four have given a buy rating to the stock. Rio Tinto has an average rating of “Hold” and a consensus price target of $1,070.06.
In related news, insider Clark Megan purchased 525 shares of the stock in a transaction dated Monday, November 18th. The stock was bought at an average cost of $94.33 per share, for a total transaction of $49,523.25.
About Rio Tinto
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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