Nano Cap New Millennium Growth Fund L P Buys New Shares in Rio Tinto PLC $RIO

Nano Cap New Millennium Growth Fund L P purchased a new position in Rio Tinto PLC (NYSE:RIO) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 5,000 shares of the mining company’s stock, valued at approximately $400,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Caprock Group LLC bought a new position in Rio Tinto in the 3rd quarter worth approximately $1,416,000. Grantham Mayo Van Otterloo & Co. LLC grew its position in shares of Rio Tinto by 21.6% during the third quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 1,126,445 shares of the mining company’s stock valued at $74,357,000 after purchasing an additional 199,962 shares in the last quarter. Shrier Wealth Management LLC purchased a new position in shares of Rio Tinto during the fourth quarter valued at about $1,280,000. Fisher Asset Management LLC grew its position in shares of Rio Tinto by 3.0% during the third quarter. Fisher Asset Management LLC now owns 19,120,168 shares of the mining company’s stock valued at $1,262,122,000 after purchasing an additional 557,234 shares in the last quarter. Finally, Commons Capital LLC purchased a new position in shares of Rio Tinto during the third quarter valued at about $1,980,000. 19.33% of the stock is currently owned by institutional investors.

Rio Tinto Stock Up 1.5%

Shares of RIO stock opened at $104.88 on Friday. Rio Tinto PLC has a 1 year low of $55.64 and a 1 year high of $112.58. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.98 and a current ratio of 1.44. The stock’s 50 day simple moving average is $96.89 and its two-hundred day simple moving average is $88.20.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on RIO shares. DZ Bank lowered Rio Tinto from a “strong-buy” rating to a “hold” rating in a research report on Friday, February 20th. HSBC lowered Rio Tinto from a “buy” rating to a “hold” rating in a research report on Monday, January 26th. Sanford C. Bernstein boosted their price target on shares of Rio Tinto from $82.00 to $83.50 and gave the stock an “outperform” rating in a research report on Monday, April 27th. Barclays cut shares of Rio Tinto from an “overweight” rating to an “equal weight” rating in a research report on Tuesday, February 24th. Finally, Royal Bank Of Canada restated a “sector perform” rating on shares of Rio Tinto in a research report on Thursday, January 22nd. Four research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company’s stock. According to MarketBeat, Rio Tinto currently has a consensus rating of “Hold” and an average target price of $101.75.

Rio Tinto Profile

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.