Rio Tinto PLC (RIO) Stake Lowered by Impala Asset Management LLC

Impala Asset Management LLC trimmed its position in shares of Rio Tinto PLC (NYSE:RIO) by 15.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,792,076 shares of the mining company’s stock after selling 517,298 shares during the period. Rio Tinto comprises 5.9% of Impala Asset Management LLC’s portfolio, making the stock its 3rd largest position. Impala Asset Management LLC owned 0.20% of Rio Tinto worth $131,758,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the company. HPM Partners LLC raised its stake in shares of Rio Tinto by 1.3% during the second quarter. HPM Partners LLC now owns 10,211 shares of the mining company’s stock valued at $432,000 after acquiring an additional 132 shares during the last quarter. Moors & Cabot Inc. raised its stake in shares of Rio Tinto by 2.7% during the second quarter. Moors & Cabot Inc. now owns 9,997 shares of the mining company’s stock valued at $425,000 after acquiring an additional 264 shares during the last quarter. Cambridge Investment Research Advisors Inc. raised its stake in shares of Rio Tinto by 2.4% during the second quarter. Cambridge Investment Research Advisors Inc. now owns 11,821 shares of the mining company’s stock valued at $500,000 after acquiring an additional 281 shares during the last quarter. Acrospire Investment Management LLC raised its stake in shares of Rio Tinto by 13.0% during the second quarter. Acrospire Investment Management LLC now owns 2,599 shares of the mining company’s stock valued at $110,000 after acquiring an additional 299 shares during the last quarter. Finally, Bourgeon Capital Management LLC raised its stake in shares of Rio Tinto by 0.4% during the second quarter. Bourgeon Capital Management LLC now owns 71,925 shares of the mining company’s stock valued at $3,043,000 after acquiring an additional 300 shares during the last quarter. 7.19% of the stock is owned by hedge funds and other institutional investors.

Several brokerages have recently commented on RIO. J P Morgan Chase & Co downgraded shares of Rio Tinto from an “overweight” rating to a “neutral” rating in a research note on Monday, November 13th. Societe Generale raised shares of Rio Tinto from a “hold” rating to a “buy” rating in a research note on Wednesday, November 8th. Royal Bank Of Canada downgraded shares of Rio Tinto from an “outperform” rating to a “sector perform” rating and increased their price target for the stock from $47.87 to $48.37 in a research note on Monday, October 23rd. Cowen set a $47.00 price target on shares of Rio Tinto and gave the stock a “hold” rating in a research note on Monday, October 16th. Finally, Citigroup downgraded shares of Rio Tinto from a “buy” rating to a “neutral” rating in a research note on Tuesday, October 17th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $51.59.

Rio Tinto PLC (NYSE:RIO) traded up $0.40 during mid-day trading on Monday, reaching $48.30. 2,623,900 shares of the company were exchanged, compared to its average volume of 3,266,618. Rio Tinto PLC has a 12 month low of $37.66 and a 12 month high of $50.77. The company has a quick ratio of 1.34, a current ratio of 1.71 and a debt-to-equity ratio of 0.31.

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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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