Cubist Systematic Strategies LLC Purchases 25,301 Shares of Rio Tinto PLC (RIO)

Cubist Systematic Strategies LLC raised its position in Rio Tinto PLC (NYSE:RIO) by 6,325.3% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 25,701 shares of the mining company’s stock after acquiring an additional 25,301 shares during the quarter. Cubist Systematic Strategies LLC’s holdings in Rio Tinto were worth $1,213,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the business. Zions Bancorporation grew its holdings in Rio Tinto by 2,992.2% during the 3rd quarter. Zions Bancorporation now owns 2,381 shares of the mining company’s stock valued at $112,000 after buying an additional 2,304 shares in the last quarter. Knowledge Leaders Capital LLC grew its holdings in Rio Tinto by 126.0% during the 2nd quarter. Knowledge Leaders Capital LLC now owns 2,393 shares of the mining company’s stock valued at $101,000 after buying an additional 1,334 shares in the last quarter. Acrospire Investment Management LLC grew its holdings in Rio Tinto by 13.0% during the 2nd quarter. Acrospire Investment Management LLC now owns 2,599 shares of the mining company’s stock valued at $110,000 after buying an additional 299 shares in the last quarter. Hudock Capital Group LLC grew its holdings in Rio Tinto by 125.4% during the 2nd quarter. Hudock Capital Group LLC now owns 2,795 shares of the mining company’s stock valued at $118,000 after buying an additional 1,555 shares in the last quarter. Finally, The Manufacturers Life Insurance Company lifted its stake in shares of Rio Tinto by 212.1% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 3,187 shares of the mining company’s stock valued at $135,000 after purchasing an additional 2,166 shares during the last quarter. 7.20% of the stock is currently owned by institutional investors.

Several equities research analysts have recently issued reports on RIO shares. Jefferies Group set a $55.00 price objective on Rio Tinto and gave the company a “buy” rating in a research note on Thursday, October 5th. Zacks Investment Research raised Rio Tinto from a “hold” rating to a “strong-buy” rating and set a $56.00 price target for the company in a research note on Saturday, October 7th. Clarkson Capital lowered Rio Tinto from a “buy” rating to a “neutral” rating in a research note on Monday, October 16th. Societe Generale raised Rio Tinto from a “hold” rating to a “buy” rating in a research note on Wednesday, November 8th. Finally, Canaccord Genuity lowered Rio Tinto from a “buy” rating to a “hold” rating in a research note on Tuesday, September 26th. One analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $51.59.

Rio Tinto PLC (NYSE:RIO) opened at $49.12 on Monday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.34 and a current ratio of 1.71. Rio Tinto PLC has a fifty-two week low of $37.66 and a fifty-two week high of $50.77.

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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.

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

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