First Allied Advisory Services Inc. bought a new position in Rio Tinto PLC (NYSE:RIO) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 11,869 shares of the mining company’s stock, valued at approximately $562,000.

Other hedge funds have also recently modified their holdings of the company. Dynamic Technology Lab Private Ltd increased its position in Rio Tinto by 18.8% in the 2nd quarter. Dynamic Technology Lab Private Ltd now owns 9,500 shares of the mining company’s stock worth $402,000 after purchasing an additional 1,503 shares during the last quarter. Russell Investments Group Ltd. increased its position in Rio Tinto by 124.2% in the 3rd quarter. Russell Investments Group Ltd. now owns 1,092,553 shares of the mining company’s stock worth $51,543,000 after purchasing an additional 605,170 shares during the last quarter. Todd Asset Management LLC increased its position in Rio Tinto by 2.7% in the 2nd quarter. Todd Asset Management LLC now owns 1,120,708 shares of the mining company’s stock worth $47,417,000 after purchasing an additional 29,807 shares during the last quarter. Cadence Capital Management LLC acquired a new position in Rio Tinto in the 2nd quarter worth about $517,000. Finally, FNY Partners Fund LP increased its position in Rio Tinto by 87.4% in the 2nd quarter. FNY Partners Fund LP now owns 98,967 shares of the mining company’s stock worth $4,187,000 after purchasing an additional 46,169 shares during the last quarter. 7.20% of the stock is currently owned by institutional investors.

RIO has been the topic of several research reports. Royal Bank of Canada lowered Rio Tinto from a “top pick” rating to an “outperform” rating in a research report on Tuesday, August 15th. Jefferies Group set a $52.00 target price on Rio Tinto and gave the stock a “buy” rating in a research report on Friday, August 18th. ValuEngine lowered Rio Tinto from a “strong-buy” rating to a “buy” rating in a research report on Friday, September 1st. Canaccord Genuity downgraded Rio Tinto from a “buy” rating to a “hold” rating in a research note on Tuesday, September 26th. Finally, Citigroup reiterated a “buy” rating on shares of Rio Tinto in a research note on Thursday, September 28th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have given a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $51.59.

Rio Tinto PLC (NYSE:RIO) traded down $0.25 on Wednesday, hitting $47.70. The stock had a trading volume of 3,417,900 shares, compared to its average volume of 3,246,861. Rio Tinto PLC has a 52 week low of $37.66 and a 52 week high of $50.77. The company has a quick ratio of 1.34, a current ratio of 1.71 and a debt-to-equity ratio of 0.31.

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About Rio Tinto

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.

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

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