Rio Tinto plc (RIO) Shares Bought by Bourgeon Capital Management LLC

Bourgeon Capital Management LLC raised its position in shares of Rio Tinto plc (NYSE:RIO) by 2.9% in the fourth quarter, Holdings Channel reports. The fund owned 70,390 shares of the mining company’s stock after acquiring an additional 1,990 shares during the quarter. Rio Tinto makes up approximately 2.0% of Bourgeon Capital Management LLC’s portfolio, making the stock its 23rd biggest holding. Bourgeon Capital Management LLC’s holdings in Rio Tinto were worth $3,726,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the business. Moors & Cabot Inc. raised its holdings 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. PNC Financial Services Group Inc. raised its holdings in shares of Rio Tinto by 3.2% during the second quarter. PNC Financial Services Group Inc. now owns 22,040 shares of the mining company’s stock valued at $933,000 after acquiring an additional 686 shares during the last quarter. TD Asset Management Inc. raised its holdings in shares of Rio Tinto by 9.7% during the third quarter. TD Asset Management Inc. now owns 11,878 shares of the mining company’s stock valued at $561,000 after acquiring an additional 1,051 shares during the last quarter. Commerzbank Aktiengesellschaft FI raised its holdings in shares of Rio Tinto by 2.1% during the third quarter. Commerzbank Aktiengesellschaft FI now owns 55,415 shares of the mining company’s stock valued at $2,615,000 after acquiring an additional 1,135 shares during the last quarter. Finally, TIAA FSB raised its holdings in shares of Rio Tinto by 12.6% during the fourth quarter. TIAA FSB now owns 12,752 shares of the mining company’s stock valued at $675,000 after acquiring an additional 1,426 shares during the last quarter. 7.25% of the stock is owned by institutional investors and hedge funds.

Shares of Rio Tinto plc (NYSE:RIO) opened at $53.29 on Tuesday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.34 and a current ratio of 1.71. The stock has a market capitalization of $97,800.00, a price-to-earnings ratio of 15.54 and a beta of 1.09. Rio Tinto plc has a one year low of $37.66 and a one year high of $57.78.

A number of brokerages have commented on RIO. Cowen set a $47.00 target price on Rio Tinto and gave the company a “hold” rating in a report on Monday, October 16th. HSBC cut Rio Tinto from a “buy” rating to a “hold” rating in a report on Tuesday, January 16th. Clarkson Capital cut Rio Tinto from a “buy” rating to a “neutral” rating in a report on Monday, October 16th. Zacks Investment Research cut Rio Tinto from a “buy” rating to a “hold” rating in a report on Thursday, January 4th. Finally, Citigroup cut Rio Tinto from a “buy” rating to a “neutral” rating in a report on Tuesday, October 17th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and eight have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $55.09.

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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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