Rio Tinto plc ADR (NYSE:RIO) Holdings Trimmed by FNY Investment Advisers LLC

FNY Investment Advisers LLC trimmed its position in shares of Rio Tinto plc ADR (NYSE:RIO) by 60.6% during the 2nd quarter, HoldingsChannel reports. The firm owned 46,865 shares of the mining company’s stock after selling 71,994 shares during the quarter. Rio Tinto accounts for 0.9% of FNY Investment Advisers LLC’s investment portfolio, making the stock its 16th biggest holding. FNY Investment Advisers LLC’s holdings in Rio Tinto were worth $2,921,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of RIO. Bank of New York Mellon Corp raised its stake in Rio Tinto by 248.9% in the fourth quarter. Bank of New York Mellon Corp now owns 179,447 shares of the mining company’s stock valued at $8,699,000 after buying an additional 128,014 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Rio Tinto by 0.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,785,726 shares of the mining company’s stock valued at $135,052,000 after purchasing an additional 13,612 shares during the period. Geode Capital Management LLC increased its holdings in shares of Rio Tinto by 12.5% in the fourth quarter. Geode Capital Management LLC now owns 30,207 shares of the mining company’s stock valued at $1,464,000 after purchasing an additional 3,366 shares during the period. FMR LLC increased its holdings in shares of Rio Tinto by 6.8% in the fourth quarter. FMR LLC now owns 290,195 shares of the mining company’s stock valued at $14,069,000 after purchasing an additional 18,525 shares during the period. Finally, Legacy Advisors LLC acquired a new position in shares of Rio Tinto in the first quarter valued at about $74,000. Hedge funds and other institutional investors own 8.60% of the company’s stock.

RIO has been the topic of a number of research reports. Goldman Sachs Group raised Rio Tinto from a “neutral” rating to a “buy” rating in a report on Monday, May 27th. ValuEngine lowered Rio Tinto from a “sell” rating to a “strong sell” rating in a report on Friday. BNP Paribas lowered Rio Tinto from a “neutral” rating to an “underperform” rating in a report on Wednesday, April 10th. Renaissance Capital lowered Rio Tinto from a “buy” rating to a “hold” rating in a report on Tuesday, July 16th. Finally, Barclays lowered Rio Tinto from an “equal weight” rating to an “underweight” rating in a report on Thursday, June 6th. Seven research analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $59.77.

Rio Tinto stock opened at $53.28 on Friday. The firm has a market capitalization of $72.60 billion, a price-to-earnings ratio of 10.51 and a beta of 0.83. Rio Tinto plc ADR has a 52 week low of $44.62 and a 52 week high of $64.02. The business’s 50-day moving average is $60.27. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.65 and a current ratio of 1.98.

Rio Tinto 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.

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

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