A number of other large investors have also recently bought and sold shares of the stock. 5,636,411 shares of the stock were exchanged, compared to its average volume of 3,410,000. Moors & Cabot Inc. raised its holdings in Rio Tinto by 2.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 3,187 shares of the mining company's stock valued at $135,000 after buying an additional 2,166 shares in the last quarter. Northern Trust Corp increased its stake in Rio Tinto by 0.8% during the second quarter. The company has a market cap of $102.07 Billion. Institutional investors own 7.25% of the company's stock.
Shares of Rio Tinto (NYSE:RIO) traded down $1.18 during trading hours on Wednesday, reaching $54.01.
Receive Rio Tinto Plc News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Rio Tinto Plc with MarketBeat.com's FREE daily email newsletter. The company has a current ratio of 1.71, a quick ratio of 1.34 and a debt-to-equity ratio of 0.31.
"We think the market is ready, but the price paid is key", said Glyn Lawcock, a Sydney-based UBS analyst, in a research report on Monday.
Institutional investors now hold around $5.22 billion or 7.4% in RIO stock. JPMorgan Chase & Co. cut Rio Tinto from an "overweight" rating to a "neutral" rating in a research note on Thursday, December 14th.
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Rio Tinto plc (LON RIO) opened at 3677.50 on Wednesday.
This puts Rio Tinto in a good position to lift 2017's record dividend this time next year with the stock now yielding close to 7% based on Wednesday's closing share price of $78.31 (if you include franking credits).
Looking at the Analyst Recommendations of the stock, 4 Analysts issued a Buy for MoSys, 2 gave Outperform, 1 analysts gave Hold Rating, 0 issued Underperform and 0 marked the stock as Sell. The third largest holder is Goldman Sachs Group Inc, which now holds $328.47 million worth of this stock and that ownership represents almost 0.32% of its market capitalization.
Rio Tinto Plc (NYSE:RIO) now has a Weekly Volatility of 3.23% percent while its Monthly Volatility is at 1.70% percent. If you are accessing this report on another website, it was illegally copied and reposted in violation of United States & worldwide copyright and trademark law. The original version of this article can be viewed at https://www.thelincolnianonline.com/2018/02/07/lmr-partners-llp-acquires-shares-of-40000-rio-tinto-plc-rio-updated.html. "That inevitably means shareholders will have to get used to more volatile income from Rio Tinto and other miners, but the sun is shining on the mining sector at present, so investors should make hay".