Grassi Investment Management grew its holdings in shares of Rio Tinto plc (NYSE:RIO) by 1.5% in the fourth quarter, Holdings Channel reports. The fund owned 162,263 shares of the mining company’s stock after purchasing an additional 2,475 shares during the period. Rio Tinto accounts for about 1.4% of Grassi Investment Management’s investment portfolio, making the stock its 20th largest holding. Grassi Investment Management’s holdings in Rio Tinto were worth $8,589,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the company. Dimensional Fund Advisors LP boosted its position in shares of Rio Tinto by 16.5% during the 3rd quarter. Dimensional Fund Advisors LP now owns 2,503,490 shares of the mining company’s stock valued at $118,140,000 after acquiring an additional 353,835 shares during the last quarter. Jennison Associates LLC lifted its position in Rio Tinto by 35.7% in the 3rd quarter. Jennison Associates LLC now owns 2,139,716 shares of the mining company’s stock worth $100,973,000 after buying an additional 563,461 shares during the last quarter. Van ECK Associates Corp lifted its position in Rio Tinto by 237.3% in the 3rd quarter. Van ECK Associates Corp now owns 1,280,538 shares of the mining company’s stock worth $60,429,000 after buying an additional 900,859 shares during the last quarter. Northern Trust Corp lifted its position in Rio Tinto by 0.8% in the 2nd quarter. Northern Trust Corp now owns 1,166,895 shares of the mining company’s stock worth $49,372,000 after buying an additional 9,809 shares during the last quarter. Finally, Russell Investments Group Ltd. lifted its position in Rio Tinto by 124.2% in the 3rd quarter. Russell Investments Group Ltd. now owns 1,092,553 shares of the mining company’s stock worth $51,543,000 after buying an additional 605,170 shares during the last quarter. Hedge funds and other institutional investors own 7.24% of the company’s stock.

Rio Tinto plc (RIO) traded up $0.37 during trading hours on Wednesday, reaching $56.08. The company had a trading volume of 2,500,000 shares, compared to its average volume of 2,590,000. The company has a quick ratio of 1.34, a current ratio of 1.71 and a debt-to-equity ratio of 0.31. The company has a market cap of $100,930.00, a P/E ratio of 16.35 and a beta of 1.01. Rio Tinto plc has a one year low of $37.66 and a one year high of $56.16.

A number of research firms recently weighed in on RIO. Cowen set a $47.00 target price on Rio Tinto and gave the stock a “hold” rating in a research report on Monday, October 16th. JPMorgan Chase & Co. downgraded Rio Tinto from an “overweight” rating to a “neutral” rating in a research report on Thursday, December 14th. Citigroup restated a “buy” rating on shares of Rio Tinto in a research report on Tuesday, December 5th. Societe Generale upgraded Rio Tinto from a “hold” rating to a “buy” rating in a research report on Wednesday, November 8th. 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 issued a hold rating and eleven have assigned a buy rating to the stock. Rio Tinto has a consensus rating of “Buy” and an average price target 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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