Rio Tinto PLC (RIO) Holdings Trimmed by Comerica Bank

Comerica Bank trimmed its position in Rio Tinto PLC (NYSE:RIO) by 3.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 78,008 shares of the mining company’s stock after selling 3,009 shares during the period. Comerica Bank’s holdings in Rio Tinto were worth $3,692,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Knowledge Leaders Capital LLC raised its holdings in shares of Rio Tinto by 126.0% in the second quarter. Knowledge Leaders Capital LLC now owns 2,393 shares of the mining company’s stock worth $101,000 after buying an additional 1,334 shares during the last quarter. Acrospire Investment Management LLC raised its holdings in shares of Rio Tinto by 13.0% in the second quarter. Acrospire Investment Management LLC now owns 2,599 shares of the mining company’s stock worth $110,000 after buying an additional 299 shares during the last quarter. Hudock Capital Group LLC raised its holdings in shares of Rio Tinto by 125.4% in the second quarter. Hudock Capital Group LLC now owns 2,795 shares of the mining company’s stock worth $118,000 after buying an additional 1,555 shares during the last quarter. The Manufacturers Life Insurance Company raised its holdings in shares of Rio Tinto by 212.1% in the second quarter. The Manufacturers Life Insurance Company now owns 3,187 shares of the mining company’s stock worth $135,000 after buying an additional 2,166 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. raised its holdings in shares of Rio Tinto by 120.1% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 3,753 shares of the mining company’s stock worth $159,000 after buying an additional 2,048 shares during the last quarter. Institutional investors own 7.04% of the company’s stock.

Shares of Rio Tinto PLC (NYSE:RIO) traded up $0.42 during trading on Friday, hitting $49.43. 1,084,675 shares of the company traded hands, compared to its average volume of 2,099,616. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.71 and a quick ratio of 1.34. Rio Tinto PLC has a 12-month low of $37.66 and a 12-month high of $50.77.

A number of research firms have issued reports on RIO. Societe Generale raised shares of Rio Tinto from a “hold” rating to a “buy” rating in a report on Wednesday, November 8th. Cowen Inc set a $47.00 price target on shares of Rio Tinto and gave the stock a “hold” rating in a report on Monday, October 16th. Citigroup Inc. cut shares of Rio Tinto from a “buy” rating to a “neutral” rating in a report on Tuesday, October 17th. Clarkson Capital cut shares of Rio Tinto from a “buy” rating to a “neutral” rating in a report on Monday, October 16th. Finally, ValuEngine cut shares of Rio Tinto from a “strong-buy” rating to a “buy” rating in a report on Friday, September 1st. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. Rio Tinto currently has an average rating of “Buy” and an average target price of $50.07.

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About Rio Tinto

Rio Tinto plc is a mining and metals company. The Company’s business is finding, mining and processing mineral resources. The Company’s segments include Iron Ore, Aluminium, Copper & Diamonds, Energy & Minerals and Other Operations. The Company operates an iron ore business, supplying the global seaborne iron ore trade.

Institutional Ownership by Quarter for Rio Tinto (NYSE:RIO)

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