Strategic Global Advisors LLC Makes New $1.34 Million Investment in Rio Tinto plc ADR (NYSE:RIO)
Strategic Global Advisors LLC acquired a new position in Rio Tinto plc ADR (NYSE:RIO) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 21,478 shares of the mining company’s stock, valued at approximately $1,339,000.
A number of other large investors have also modified their holdings of RIO. Personal Wealth Partners bought a new position in Rio Tinto in the 2nd quarter worth $25,000. Liberty Wealth Management LLC boosted its position in shares of Rio Tinto by 238.6% in the second quarter. Liberty Wealth Management LLC now owns 491 shares of the mining company’s stock valued at $31,000 after acquiring an additional 346 shares during the period. Arrow Financial Corp bought a new stake in shares of Rio Tinto in the second quarter valued at approximately $34,000. FinTrust Capital Advisors LLC grew its stake in shares of Rio Tinto by 234.1% in the second quarter. FinTrust Capital Advisors LLC now owns 568 shares of the mining company’s stock worth $35,000 after acquiring an additional 398 shares during the last quarter. Finally, Manchester Financial Inc. acquired a new stake in shares of Rio Tinto in the second quarter worth $41,000. Hedge funds and other institutional investors own 8.21% of the company’s stock.
Several analysts have issued reports on RIO shares. Barclays lowered shares of Rio Tinto from an “equal weight” rating to an “underweight” rating in a research report on Thursday, June 6th. Liberum Capital lowered Rio Tinto from a “hold” rating to a “sell” rating in a research note on Thursday, August 22nd. BMO Capital Markets upgraded Rio Tinto from a “market perform” rating to an “outperform” rating in a research note on Tuesday, September 3rd. Exane BNP Paribas raised Rio Tinto from an “underperform” rating to a “neutral” rating in a research report on Thursday, September 5th. Finally, Goldman Sachs Group upgraded shares of Rio Tinto from a “neutral” rating to a “buy” rating in a research note on Monday, May 27th. Seven equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and four have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $59.77.
Rio Tinto Company Profile
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.
Featured Article: Stock Symbols Definition, Examples, Lookup
Want to see what other hedge funds are holding RIO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Rio Tinto plc ADR (NYSE:RIO).
Receive News & Ratings for Rio Tinto Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Rio Tinto and related companies with MarketBeat.com's FREE daily email newsletter.