Janney Montgomery Scott LLC Sells 15,823 Shares of Rio Tinto plc ADR (NYSE:RIO)

Janney Montgomery Scott LLC lowered its position in Rio Tinto plc ADR (NYSE:RIO) by 30.6% in the third quarter, Holdings Channel.com reports. The institutional investor owned 35,920 shares of the mining company’s stock after selling 15,823 shares during the period. Janney Montgomery Scott LLC’s holdings in Rio Tinto were worth $1,871,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Quest Capital Management Inc. ADV bought a new stake in shares of Rio Tinto in the 3rd quarter valued at $26,000. Fluent Financial LLC increased its position in shares of Rio Tinto by 6.4% in the 3rd quarter. Fluent Financial LLC now owns 20,157 shares of the mining company’s stock valued at $1,050,000 after buying an additional 1,218 shares in the last quarter. Naples Global Advisors LLC increased its position in shares of Rio Tinto by 7.7% in the 3rd quarter. Naples Global Advisors LLC now owns 58,156 shares of the mining company’s stock valued at $3,029,000 after buying an additional 4,171 shares in the last quarter. Hammer Asset Management LLC increased its position in shares of Rio Tinto by 2.7% in the 3rd quarter. Hammer Asset Management LLC now owns 25,560 shares of the mining company’s stock valued at $1,331,000 after buying an additional 660 shares in the last quarter. Finally, Flagship Harbor Advisors LLC increased its position in shares of Rio Tinto by 119.5% in the 3rd quarter. Flagship Harbor Advisors LLC now owns 6,457 shares of the mining company’s stock valued at $336,000 after buying an additional 3,515 shares in the last quarter. Institutional investors and hedge funds own 8.22% of the company’s stock.

A number of analysts recently commented on RIO shares. Citigroup restated a “buy” rating on shares of Rio Tinto in a research report on Saturday, November 2nd. HSBC lowered their price objective on shares of Rio Tinto from $4,750.00 to $4,725.00 and set a “buy” rating for the company in a research report on Saturday, November 2nd. Zacks Investment Research upgraded Rio Tinto from a “sell” rating to a “hold” rating in a report on Friday, September 27th. UBS Group reiterated a “neutral” rating and set a $4,100.00 target price on shares of Rio Tinto in a report on Saturday, November 2nd. Finally, Goldman Sachs Group reiterated a “buy” rating on shares of Rio Tinto in a report on Monday, October 28th. Seven research analysts have rated the stock with a sell rating, eleven have issued a hold rating and nine have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $1,923.04.

RIO stock opened at $55.66 on Thursday. The stock has a 50-day moving average price of $52.08 and a two-hundred day moving average price of $55.75. The stock has a market cap of $70.25 billion, a PE ratio of 10.98 and a beta of 0.87. The company has a current ratio of 1.55, a quick ratio of 1.22 and a debt-to-equity ratio of 0.30. Rio Tinto plc ADR has a 1 year low of $44.62 and a 1 year high of $64.02.

About Rio Tinto

Rio Tinto Group engages in finding, mining, and processing mineral resources worldwide. The company offers aluminium, silver, molybdenum, copper, diamonds, gold, borates, titanium dioxide, salt, iron ore, and uranium. It is also involved in the alumina production; primary aluminium smelting; bauxite mining; alumina refining; and ilmenite mining, as well as provision of gypsum.

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

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