Trade Report: Today: GRATRY & Co LLC Buys 114,667 Shares of Rio Tinto PLC (RIO)

Today: GRATRY & Co LLC Buys 114,667  Shares of Rio Tinto PLC (RIO)

GRATRY & Co LLC bought a new position in Rio Tinto PLC (NYSE:RIO) during the third quarter, Holdings Channel reports. The institutional investor bought 114,667 shares of the mining company’s stock, valued at approximately $3,830,000. Rio Tinto PLC comprises 3.0% of GRATRY & Co LLC’s holdings, making the stock its 13th largest position.

Other hedge funds also recently modified their holdings of the company. Envestnet Asset Management Inc. increased its stake in shares of Rio Tinto PLC by 25.9% in the first quarter. Envestnet Asset Management Inc. now owns 85,598 shares of the mining company’s stock worth $2,420,000 after buying an additional 17,592 shares during the last quarter. LPL Financial LLC increased its stake in shares of Rio Tinto PLC by 20.8% in the first quarter. LPL Financial LLC now owns 46,173 shares of the mining company’s stock worth $1,261,000 after buying an additional 7,964 shares during the last quarter. NEXT Financial Group Inc increased its stake in shares of Rio Tinto PLC by 979.3% in the second quarter. NEXT Financial Group Inc now owns 6,044 shares of the mining company’s stock worth $189,000 after buying an additional 5,484 shares during the last quarter. Creative Planning increased its stake in shares of Rio Tinto PLC by 21.4% in the second quarter. Creative Planning now owns 15,260 shares of the mining company’s stock worth $478,000 after buying an additional 2,685 shares during the last quarter. Finally, Deroy & Devereaux Private Investment Counsel Inc. increased its stake in shares of Rio Tinto PLC by 8.7% in the second quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 31,400 shares of the mining company’s stock worth $983,000 after buying an additional 2,500 shares during the last quarter. Hedge funds and other institutional investors own 6.62% of the company’s stock.

Rio Tinto PLC (NYSE:RIO) opened at 39.35 on Monday. The stock has a market capitalization of $70.78 billion, a price-to-earnings ratio of 1788.64 and a beta of 1.27. The stock’s 50 day moving average price is $35.23 and its 200 day moving average price is $31.98. Rio Tinto PLC has a 52-week low of $21.89 and a 52-week high of $40.19.

A number of analysts have recently commented on RIO shares. Vetr upgraded Rio Tinto PLC from a “hold” rating to a “buy” rating and set a $34.00 target price on the stock in a research note on Tuesday, August 2nd. Investec restated a “buy” rating on shares of Rio Tinto PLC in a research note on Wednesday, August 3rd. Liberum Capital restated a “sell” rating on shares of Rio Tinto PLC in a research note on Wednesday, August 3rd. Beaufort Securities restated a “hold” rating on shares of Rio Tinto PLC in a research note on Thursday, August 4th. Finally, Deutsche Bank AG reiterated a “buy” rating on shares of Rio Tinto PLC in a research report on Thursday, August 18th. Four equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and fourteen have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $35.56.

Rio Tinto PLC Company Profile

Rio Tinto plc is a mining company. The Company focuses on finding, mining, processing and marketing the Earth’s mineral resources. The Company’s segments include aluminum, copper and coal, diamonds and minerals, and iron ore. The Company’s aluminum business includes bauxite mines, alumina refineries and aluminum smelters.

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