Rio Tinto plc (RIO) Insider Sells £387043.60 in Stock

Marco Green
March 13, 2018

Cowen reissued a "market perform" rating and set a $61.00 price objective (up previously from $54.00) on shares of Rio Tinto in a research report on Thursday, January 18th. The institutional investor held 182,675 shares of the precious metals company at the end of 2017Q3, valued at $8.62 million, down from 303,820 at the end of the previous reported quarter. The Company's products also comprise others, such as sulphuric acid, rhenium, lead carbonate, and selenium. It also reduced its holding in Chubb Limited by 4,318 shares in the quarter, leaving it with 47,969 shares, and cut its stake in Johnson & Johnson (NYSE:JNJ). The Manufacturers Life Insurance Company now owns 3,187 shares of the mining company's stock valued at $135,000 after acquiring an additional 2,166 shares in the last quarter. Finally, Telos Capital Management Inc. bought a new position in shares of Rio Tinto during the third quarter valued at approximately $211,000. Teachers Retirement System of The State of Kentucky's holdings in Rio Tinto were worth $36,892,000 as of its most recent filing with the SEC. Goldman Sachs Group set a GBX 3,300 ($45.59) target price on Rio Tinto and gave the stock a "neutral" rating in a research note on Monday, December 11th. The stock of Rio Tinto plc (NYSE:RIO) has "Buy" rating given on Friday, June 30 by Bank of America.

COPYRIGHT VIOLATION NOTICE: "Rio Tinto (LON:RIO) Given a GBX 3,900 Price Target at Morgan Stanley" was first posted by Week Herald and is owned by of Week Herald. Zacks Investment Research cut shares of Rio Tinto from a "hold" rating to a "strong sell" rating in a research note on Saturday, February 10th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have issued a buy rating to the company.

Shares of Rio Tinto plc (RIO) opened at $52.07 on Monday. The company's stock had a trading volume of 3,400,000 shares, compared to its average volume of 4,720,000. The company has a current ratio of 1.71, a quick ratio of 1.40 and a debt-to-equity ratio of 0.30. The firm has a market capitalization of $66,640.00 and a PE ratio of 1,000.94.

Cadinha & Co Llc decreased its stake in Rio Tinto Plc Sp Adr (RIO) by 39.87% based on its latest 2017Q3 regulatory filing with the SEC.

Rio Tinto declared that its Board of Directors has initiated a stock repurchase program on Wednesday, February 7th that permits the company to repurchase $1.00 billion in outstanding shares. Gabelli Funds Llc bought 222,000 shares as the company's stock declined 20.41% while stock markets rallied. Stock repurchase programs are usually an indication that the company's board believes its stock is undervalued. Stockholders of record on Thursday, March 1st will be paid a dividend of GBX 129.43 ($1.79) per share. Barclays boosted their target price on Rio Tinto from GBX 4,100 ($56.65) to GBX 4,500 ($62.17) and gave the stock an "overweight" rating in a research note on Tuesday, October 24th. On Thursday, March 31 the stock rating was downgraded by Axiom Capital to "Sell".

Nepsis Capital Management Inc, which manages about $214.00M and $193.71M US Long portfolio, decreased its stake in Medtronic Plc (NYSE:MDT) by 6,197 shares to 42,695 shares, valued at $3.32M in 2017Q3, according to the filing. Rio Tinto plc (NYSE:RIO) has risen 43.73% since March 11, 2017 and is uptrending. If you are accessing this report on another website, it was stolen and reposted in violation of USA and global trademark & copyright legislation. The legal version of this piece can be accessed at Cadinha & Co Llc who had been investing in Rio Tinto Plc Sp Adr for a number of months, seems to be less bullish one the $89.44 billion market cap company. The Company's business is finding, mining and processing mineral resources. The firm mines and produces aluminum products, including bauxite, alumina, and aluminum; copper, gold, silver, and molybdenum, as well as nickel; diamonds, titanium dioxide feedstocks, borates, and salt, as well as high purity iron, steel billets, metal powders, zircon, and rutile; uranium; iron ore; and thermal coal, and coking or metallurgical coal.

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