Bank of New York Mellon Corp lessened its holdings in shares of Rio Tinto plc (NYSE:RIO) by 45.8% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 50,951 shares of the mining company’s stock after selling 43,104 shares during the period. Bank of New York Mellon Corp’s holdings in Rio Tinto were worth $2,405,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Acrospire Investment Management LLC raised its position in shares of Rio Tinto by 13.0% during the 2nd quarter. Acrospire Investment Management LLC now owns 2,599 shares of the mining company’s stock worth $110,000 after acquiring an additional 299 shares in the last quarter. The Manufacturers Life Insurance Company raised its position in shares of Rio Tinto by 212.1% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 3,187 shares of the mining company’s stock worth $135,000 after acquiring an additional 2,166 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its position in shares of Rio Tinto by 120.1% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 3,753 shares of the mining company’s stock worth $159,000 after acquiring an additional 2,048 shares in the last quarter. Adviser Investments LLC acquired a new stake in shares of Rio Tinto during the 3rd quarter worth about $207,000. Finally, Telos Capital Management Inc. acquired a new stake in shares of Rio Tinto during the 3rd quarter worth about $211,000. 7.22% of the stock is currently owned by institutional investors and hedge funds.

Several brokerages have recently weighed in on RIO. JPMorgan Chase & Co. lowered Rio Tinto from an “overweight” rating to a “neutral” rating in a research report on Monday, November 13th. Citigroup reissued a “buy” rating on shares of Rio Tinto in a research report on Tuesday, December 5th. Royal Bank of Canada lowered Rio Tinto from an “outperform” rating to a “sector perform” rating and raised their target price for the stock from $47.87 to $48.37 in a research report on Monday, October 23rd. Cowen set a $47.00 target price on Rio Tinto and gave the stock a “hold” rating in a research report on Monday, October 16th. Finally, Zacks Investment Research raised Rio Tinto from a “hold” rating to a “buy” rating and set a $56.00 target price on the stock in a research report on Wednesday, December 20th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eleven have issued a buy rating to the company’s stock. Rio Tinto currently has an average rating of “Buy” and an average price target of $51.59.

Rio Tinto plc (NYSE RIO) opened at $54.54 on Monday. The company has a market capitalization of $97,870.00, a P/E ratio of 15.90 and a beta of 1.01. Rio Tinto plc has a 12-month low of $37.66 and a 12-month high of $55.00. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.34 and a current ratio of 1.71.

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Rio Tinto Company 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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Institutional Ownership by Quarter for Rio Tinto (NYSE:RIO)

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