KCS Wealth Advisory Takes $572,000 Position in Rio Tinto plc (RIO)

KCS Wealth Advisory purchased a new position in shares of Rio Tinto plc (NYSE:RIO) during the fourth quarter, HoldingsChannel reports. The firm purchased 10,803 shares of the mining company’s stock, valued at approximately $572,000.

A number of other hedge funds have also modified their holdings of RIO. First Trust Advisors LP boosted its position in Rio Tinto by 46.4% during the second quarter. First Trust Advisors LP now owns 21,647 shares of the mining company’s stock worth $916,000 after purchasing an additional 6,857 shares in the last quarter. Bank of New York Mellon Corp boosted its position in Rio Tinto by 2.9% during the second quarter. Bank of New York Mellon Corp now owns 94,055 shares of the mining company’s stock worth $3,980,000 after purchasing an additional 2,637 shares in the last quarter. LSV Asset Management purchased a new position in Rio Tinto during the second quarter worth approximately $5,496,000. Private Advisor Group LLC boosted its position in Rio Tinto by 4.0% during the second quarter. Private Advisor Group LLC now owns 12,500 shares of the mining company’s stock worth $552,000 after purchasing an additional 480 shares in the last quarter. Finally, CIBC World Markets Inc. boosted its position in Rio Tinto by 81.0% during the second quarter. CIBC World Markets Inc. now owns 28,335 shares of the mining company’s stock worth $1,199,000 after purchasing an additional 12,681 shares in the last quarter. Institutional investors own 7.24% of the company’s stock.

Rio Tinto plc (NYSE:RIO) opened at $57.67 on Friday. Rio Tinto plc has a 1 year low of $37.66 and a 1 year high of $57.78. The company has a current ratio of 1.71, a quick ratio of 1.34 and a debt-to-equity ratio of 0.31.

Several equities analysts have recently weighed in on RIO shares. Societe Generale upgraded Rio Tinto from a “hold” rating to a “buy” rating in a research report on Wednesday, November 8th. Citigroup restated a “buy” rating on shares of Rio Tinto in a research report on Tuesday, December 5th. Jefferies Group set a $55.00 target price on Rio Tinto and gave the company a “buy” rating in a research report on Thursday, October 5th. Zacks Investment Research upgraded Rio Tinto from a “hold” rating to a “buy” rating and set a $56.00 target price on the stock in a research report on Wednesday, December 20th. Finally, Canaccord Genuity downgraded Rio Tinto from a “buy” rating to a “hold” rating in a research report on Tuesday, September 26th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and ten have given a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $51.59.

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Rio Tinto Profile

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.

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

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