Montag A & Associates Inc. decreased its holdings in Rio Tinto plc ADR (NYSE:RIO) by 8.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 88,418 shares of the mining company’s stock after selling 8,460 shares during the quarter. Montag A & Associates Inc.’s holdings in Rio Tinto were worth $4,606,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in RIO. Fisher Asset Management LLC raised its position in Rio Tinto by 4.7% in the 2nd quarter. Fisher Asset Management LLC now owns 10,567,108 shares of the mining company’s stock valued at $658,754,000 after purchasing an additional 470,757 shares during the last quarter. Morgan Stanley raised its position in Rio Tinto by 38.1% in the 2nd quarter. Morgan Stanley now owns 1,153,972 shares of the mining company’s stock valued at $71,939,000 after purchasing an additional 318,207 shares during the last quarter. Menora Mivtachim Holdings LTD. raised its position in Rio Tinto by 22.0% in the 3rd quarter. Menora Mivtachim Holdings LTD. now owns 1,685,049 shares of the mining company’s stock valued at $87,774,000 after purchasing an additional 304,350 shares during the last quarter. Bank of Nova Scotia raised its position in Rio Tinto by 2,180.2% in the 2nd quarter. Bank of Nova Scotia now owns 259,943 shares of the mining company’s stock valued at $625,000 after purchasing an additional 248,543 shares during the last quarter. Finally, BlackRock Inc. raised its position in Rio Tinto by 64.8% in the 2nd quarter. BlackRock Inc. now owns 592,095 shares of the mining company’s stock valued at $36,910,000 after purchasing an additional 232,716 shares during the last quarter. Hedge funds and other institutional investors own 8.22% of the company’s stock.

Several analysts recently commented on the stock. BNP Paribas upgraded shares of Rio Tinto from an “underperform” rating to a “neutral” rating in a research report on Thursday, September 5th. Investec upgraded shares of Rio Tinto from a “hold” rating to a “buy” rating in a research report on Friday, October 4th. ValuEngine downgraded shares of Rio Tinto from a “sell” rating to a “strong sell” rating in a research report on Friday, August 2nd. Royal Bank of Canada restated a “sell” rating on shares of Rio Tinto in a research report on Wednesday, October 30th. Finally, Credit Suisse Group downgraded shares of Rio Tinto from a “neutral” rating to an “underperform” rating in a research report on Wednesday, July 24th. Seven analysts have rated the stock with a sell rating, eleven have assigned a hold rating and nine have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $1,923.04.

Rio Tinto stock traded down $1.40 during trading hours on Friday, reaching $54.11. 2,467,284 shares of the stock were exchanged, compared to its average volume of 2,551,112. The stock has a market cap of $68.75 billion, a P/E ratio of 10.67 and a beta of 0.87. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.22 and a current ratio of 1.55. Rio Tinto plc ADR has a 52-week low of $44.62 and a 52-week high of $64.02. The firm’s 50 day moving average is $52.13 and its 200 day moving average is $55.72.

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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