Rio Tinto plc ADR (NYSE:RIO) Shares Purchased by Cornerstone Advisors Inc.

Cornerstone Advisors Inc. lifted its holdings in Rio Tinto plc ADR (NYSE:RIO) by 25.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,188 shares of the mining company’s stock after buying an additional 238 shares during the quarter. Cornerstone Advisors Inc.’s holdings in Rio Tinto were worth $74,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. OLD National Bancorp IN lifted its stake in Rio Tinto by 5.5% during the 2nd quarter. OLD National Bancorp IN now owns 11,681 shares of the mining company’s stock valued at $728,000 after acquiring an additional 605 shares during the period. AdvisorNet Financial Inc increased its position in shares of Rio Tinto by 11.8% during the 2nd quarter. AdvisorNet Financial Inc now owns 2,090 shares of the mining company’s stock valued at $130,000 after purchasing an additional 220 shares during the last quarter. Campbell & CO Investment Adviser LLC purchased a new stake in shares of Rio Tinto during the 2nd quarter valued at about $376,000. Naples Global Advisors LLC increased its position in shares of Rio Tinto by 2.6% during the 2nd quarter. Naples Global Advisors LLC now owns 53,985 shares of the mining company’s stock valued at $3,365,000 after purchasing an additional 1,350 shares during the last quarter. Finally, Carroll Financial Associates Inc. increased its position in shares of Rio Tinto by 111.7% during the 2nd quarter. Carroll Financial Associates Inc. now owns 2,223 shares of the mining company’s stock valued at $138,000 after purchasing an additional 1,173 shares during the last quarter. 8.71% of the stock is currently owned by hedge funds and other institutional investors.

Shares of RIO opened at $47.98 on Monday. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.55 and a quick ratio of 1.22. The firm has a market cap of $61.75 billion, a P/E ratio of 9.46 and a beta of 0.83. Rio Tinto plc ADR has a 1 year low of $44.62 and a 1 year high of $64.02. The company has a 50 day simple moving average of $55.37 and a two-hundred day simple moving average of $58.07.

Several research firms have recently commented on RIO. Jefferies Financial Group lowered shares of Rio Tinto from a “buy” rating to a “hold” rating in a research report on Tuesday, August 6th. Credit Suisse Group lowered shares of Rio Tinto from a “neutral” rating to an “underperform” rating in a research report on Wednesday, July 24th. Liberum Capital lowered shares of Rio Tinto from a “hold” rating to a “sell” rating in a research report on Thursday. ValuEngine lowered shares of Rio Tinto from a “sell” rating to a “strong sell” rating in a report on Friday, August 2nd. Finally, Goldman Sachs Group raised shares of Rio Tinto from a “neutral” rating to a “buy” rating in a report on Monday, May 27th. Eight research analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have issued a buy rating to the company. Rio Tinto presently has a consensus rating of “Hold” and a consensus target price of $59.77.

Rio Tinto Profile

Rio Tinto Group engages in finding, mining, and processing mineral resources worldwide. The company offers aluminium, silver, molybdenum, copper, diamonds, gold, borates, titanium dioxide, salt, iron ore, and uranium. It is also involved in the alumina production; primary aluminium smelting; bauxite mining; alumina refining; and ilmenite mining, as well as provision of gypsum.

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

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