Lester Murray Antman dba SimplyRich Takes Position in Rio Tinto PLC $RIO

Lester Murray Antman dba SimplyRich bought a new stake in shares of Rio Tinto PLC (NYSE:RIO) during the 3rd quarter, according to its most recent filing with the SEC. The fund bought 6,590 shares of the mining company’s stock, valued at approximately $435,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in RIO. Pinpoint Asset Management Singapore Pte. Ltd. acquired a new position in Rio Tinto in the second quarter worth about $38,000. MTM Investment Management LLC bought a new stake in shares of Rio Tinto in the 2nd quarter valued at approximately $43,000. Hilltop National Bank acquired a new position in shares of Rio Tinto in the 2nd quarter worth approximately $44,000. Resources Management Corp CT ADV bought a new position in shares of Rio Tinto during the 1st quarter worth approximately $48,000. Finally, Wealth Preservation Advisors LLC acquired a new stake in Rio Tinto in the 2nd quarter valued at $53,000. Institutional investors own 19.33% of the company’s stock.

Rio Tinto Stock Up 0.9%

Rio Tinto stock opened at $78.33 on Friday. The stock has a 50-day simple moving average of $71.65 and a 200 day simple moving average of $65.01. The company has a quick ratio of 1.03, a current ratio of 1.53 and a debt-to-equity ratio of 0.37. Rio Tinto PLC has a 12-month low of $51.67 and a 12-month high of $78.57.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on RIO. Citigroup reiterated a “hold” rating on shares of Rio Tinto in a research report on Monday, November 17th. Zacks Research lowered shares of Rio Tinto from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 19th. Weiss Ratings reissued a “hold (c+)” rating on shares of Rio Tinto in a report on Monday, December 15th. Morgan Stanley restated an “overweight” rating on shares of Rio Tinto in a research report on Tuesday. Finally, Royal Bank Of Canada reaffirmed a “sector perform” rating on shares of Rio Tinto in a report on Monday, December 1st. Two analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and seven have assigned a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $79.00.

About Rio Tinto

Rio Tinto is a global mining and metals company that explores for, mines, processes and markets a wide range of commodities. Its principal products include iron ore, aluminum, copper, diamonds and various other minerals and industrial materials. The company’s activities span the full value chain from exploration and project development to mining, processing, smelting and refining, supplying raw materials to industries such as steelmaking, automotive, packaging, electronics and construction.

The origins of Rio Tinto date back to mining operations in the Rio Tinto region of Spain in the 19th century, and the group has since grown into a multinational enterprise.