TT Capital Management LLC Has $4.52 Million Stake in Rio Tinto PLC $RIO

TT Capital Management LLC lifted its holdings in shares of Rio Tinto PLC (NYSE:RIO) by 2,138.6% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 76,517 shares of the mining company’s stock after acquiring an additional 73,099 shares during the quarter. Rio Tinto makes up about 1.5% of TT Capital Management LLC’s portfolio, making the stock its 12th biggest holding. TT Capital Management LLC’s holdings in Rio Tinto were worth $4,516,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Kingstone Capital Partners Texas LLC acquired a new position in shares of Rio Tinto in the second quarter valued at $292,770,000. Marshall Wace LLP bought a new stake in shares of Rio Tinto during the 2nd quarter worth about $49,089,000. Bank of Montreal Can grew its stake in Rio Tinto by 71.7% in the 2nd quarter. Bank of Montreal Can now owns 1,855,607 shares of the mining company’s stock valued at $108,238,000 after buying an additional 774,851 shares during the last quarter. Fisher Asset Management LLC raised its holdings in Rio Tinto by 4.2% in the 2nd quarter. Fisher Asset Management LLC now owns 18,562,934 shares of the mining company’s stock valued at $1,082,776,000 after acquiring an additional 752,505 shares during the period. Finally, Dimensional Fund Advisors LP lifted its position in Rio Tinto by 33.9% during the first quarter. Dimensional Fund Advisors LP now owns 1,938,247 shares of the mining company’s stock worth $116,510,000 after acquiring an additional 490,357 shares during the last quarter. Institutional investors own 19.33% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on RIO shares. Zacks Research lowered Rio Tinto from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 19th. Citigroup reissued a “hold” rating on shares of Rio Tinto in a report on Monday, November 17th. Argus boosted their target price on shares of Rio Tinto from $70.00 to $85.00 and gave the company a “buy” rating in a research report on Thursday. Royal Bank Of Canada reaffirmed a “sector perform” rating on shares of Rio Tinto in a research report on Monday, December 1st. Finally, Morgan Stanley reissued an “overweight” rating on shares of Rio Tinto in a report on Wednesday, October 8th. Two research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $79.00.

Rio Tinto Trading Down 1.5%

RIO stock opened at $75.57 on Friday. Rio Tinto PLC has a 52 week low of $51.67 and a 52 week high of $76.99. The business has a 50-day simple moving average of $70.61 and a 200 day simple moving average of $64.40. The company has a quick ratio of 1.03, a current ratio of 1.53 and a debt-to-equity ratio of 0.37.

Rio Tinto Profile

Rio Tinto Group engages in exploring, mining, and processing mineral resources worldwide. The company operates through Iron Ore, Aluminium, Copper, and Minerals Segments. The Iron Ore segment engages in the iron ore mining, and salt and gypsum production in Western Australia. The Aluminum segment is involved in bauxite mining; alumina refining; and aluminium smelting.