Vanguard Personalized Indexing Management LLC Increases Stake in Rio Tinto PLC $RIO

Vanguard Personalized Indexing Management LLC grew its holdings in Rio Tinto PLC (NYSE:RIO) by 22.5% during the 3rd quarter, Holdings Channel reports. The fund owned 38,255 shares of the mining company’s stock after buying an additional 7,021 shares during the period. Vanguard Personalized Indexing Management LLC’s holdings in Rio Tinto were worth $2,525,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently modified their holdings of RIO. Salomon & Ludwin LLC increased its stake in shares of Rio Tinto by 62.2% in the 3rd quarter. Salomon & Ludwin LLC now owns 472 shares of the mining company’s stock worth $31,000 after purchasing an additional 181 shares in the last quarter. Root Financial Partners LLC bought a new stake in Rio Tinto during the third quarter valued at about $36,000. Pinpoint Asset Management Singapore Pte. Ltd. purchased a new stake in Rio Tinto in the second quarter worth about $38,000. MTM Investment Management LLC purchased a new stake in Rio Tinto in the second quarter worth about $43,000. Finally, Hilltop National Bank bought a new position in shares of Rio Tinto in the second quarter worth about $44,000. Institutional investors own 19.33% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. HSBC lowered shares of Rio Tinto from a “buy” rating to a “hold” rating in a report on Monday. Erste Group Bank upgraded Rio Tinto from a “hold” rating to a “buy” rating in a research note on Friday, January 23rd. Hsbc Global Res cut Rio Tinto from a “strong-buy” rating to a “hold” rating in a report on Monday. Argus upped their price objective on Rio Tinto from $70.00 to $85.00 and gave the stock a “buy” rating in a research note on Thursday, December 11th. Finally, Zacks Research upgraded Rio Tinto from a “hold” rating to a “strong-buy” rating in a research report on Monday, December 29th. Three equities research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $85.00.

Rio Tinto Price Performance

Shares of Rio Tinto stock opened at $95.07 on Friday. The stock has a 50 day moving average of $80.27 and a 200 day moving average of $70.28. Rio Tinto PLC has a 12 month low of $51.67 and a 12 month high of $97.11. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.53 and a quick ratio of 1.03.

About Rio Tinto

Rio Tinto is a global mining and metals company that explores for, mines, processes and markets a wide range of commodities. Its principal products include iron ore, aluminum, copper, diamonds and various other minerals and industrial materials. The company’s activities span the full value chain from exploration and project development to mining, processing, smelting and refining, supplying raw materials to industries such as steelmaking, automotive, packaging, electronics and construction.

The origins of Rio Tinto date back to mining operations in the Rio Tinto region of Spain in the 19th century, and the group has since grown into a multinational enterprise.