Quantbot Technologies LP Acquires 7,573 Shares of Rio Tinto PLC (RIO)
Quantbot Technologies LP raised its holdings in Rio Tinto PLC (NYSE:RIO) by 276.9% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 10,308 shares of the mining company’s stock after acquiring an additional 7,573 shares during the quarter. Quantbot Technologies LP’s holdings in Rio Tinto PLC were worth $436,000 as of its most recent SEC filing.
A number of other hedge funds have also made changes to their positions in the business. MML Investors Services LLC bought a new position in Rio Tinto PLC in the second quarter valued at approximately $203,000. ETRADE Capital Management LLC boosted its stake in Rio Tinto PLC by 3.7% in the second quarter. ETRADE Capital Management LLC now owns 8,872 shares of the mining company’s stock valued at $375,000 after acquiring an additional 315 shares during the last quarter. Northern Trust Corp boosted its stake in Rio Tinto PLC by 0.8% in the second quarter. Northern Trust Corp now owns 1,166,895 shares of the mining company’s stock valued at $49,372,000 after acquiring an additional 9,809 shares during the last quarter. D.A. Davidson & CO. boosted its stake in Rio Tinto PLC by 11.7% in the second quarter. D.A. Davidson & CO. now owns 6,793 shares of the mining company’s stock valued at $287,000 after acquiring an additional 714 shares during the last quarter. Finally, Capital Growth Management LP bought a new position in Rio Tinto PLC in the second quarter valued at approximately $4,231,000. 6.87% of the stock is currently owned by hedge funds and other institutional investors.
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A number of brokerages have issued reports on RIO. Citigroup Inc. reaffirmed a “buy” rating on shares of Rio Tinto PLC in a research note on Thursday. Canaccord Genuity cut shares of Rio Tinto PLC from a “buy” rating to a “hold” rating in a research report on Tuesday, September 26th. ValuEngine cut shares of Rio Tinto PLC from a “strong-buy” rating to a “buy” rating in a research report on Friday, September 1st. Jefferies Group LLC set a $52.00 price target on shares of Rio Tinto PLC and gave the stock a “buy” rating in a research report on Friday, August 18th. Finally, Royal Bank Of Canada cut shares of Rio Tinto PLC from a “top pick” rating to an “outperform” rating in a research report on Tuesday, August 15th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and sixteen have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $47.50.
Shares of Rio Tinto PLC (NYSE RIO) opened at 47.19 on Friday. Rio Tinto PLC has a one year low of $31.24 and a one year high of $49.89. The company’s 50 day moving average is $47.23 and its 200-day moving average is $42.74. The firm has a market capitalization of $84.61 billion, a price-to-earnings ratio of 13.76 and a beta of 0.98.
The business also recently announced a None dividend, which was paid on Thursday, September 21st. Investors of record on Friday, August 11th were paid a dividend of $1.10 per share. The ex-dividend date was Wednesday, August 9th.
Rio Tinto PLC Profile
Rio Tinto plc is a mining and metals company. The Company’s business is finding, mining and processing mineral resources. The Company’s segments include Iron Ore, Aluminium, Copper & Diamonds, Energy & Minerals and Other Operations. The Company operates an iron ore business, supplying the global seaborne iron ore trade.
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