Vanguard Personalized Indexing Management LLC Buys 7,021 Shares of Rio Tinto PLC $RIO

Vanguard Personalized Indexing Management LLC raised its stake in shares of Rio Tinto PLC (NYSE:RIO) by 22.5% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 38,255 shares of the mining company’s stock after buying an additional 7,021 shares during the quarter. Vanguard Personalized Indexing Management LLC’s holdings in Rio Tinto were worth $2,525,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Salomon & Ludwin LLC grew its position in Rio Tinto by 62.2% during the 3rd quarter. Salomon & Ludwin LLC now owns 472 shares of the mining company’s stock valued at $31,000 after purchasing an additional 181 shares during the last quarter. Root Financial Partners LLC bought a new position in shares of Rio Tinto in the third quarter worth approximately $36,000. Pinpoint Asset Management Singapore Pte. Ltd. bought a new position in shares of Rio Tinto in the second quarter worth approximately $38,000. MTM Investment Management LLC bought a new stake in shares of Rio Tinto during the second quarter valued at approximately $43,000. Finally, Hilltop National Bank bought a new stake in shares of Rio Tinto during the second quarter valued at approximately $44,000. 19.33% of the stock is owned by institutional investors.

Rio Tinto Stock Performance

Rio Tinto stock opened at $95.07 on Friday. Rio Tinto PLC has a one year low of $51.67 and a one year high of $97.11. The stock has a fifty day moving average of $80.27 and a 200 day moving average of $70.28. The company has a current ratio of 1.53, a quick ratio of 1.03 and a debt-to-equity ratio of 0.37.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on RIO. Argus upped their price objective on Rio Tinto from $70.00 to $85.00 and gave the company a “buy” rating in a research report on Thursday, December 11th. Zacks Research upgraded Rio Tinto from a “hold” rating to a “strong-buy” rating in a research note on Monday, December 29th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Rio Tinto in a research report on Monday, December 29th. Hsbc Global Res downgraded Rio Tinto from a “strong-buy” rating to a “hold” rating in a report on Monday. Finally, Citigroup restated a “hold” rating on shares of Rio Tinto in a research note on Monday, November 17th. Three investment analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $85.00.

About Rio Tinto

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.