June 27, 2016

Goldman Sachs Upgraded Rio Tinto plc (RIO)


Rio Tinto plc (NYSE:RIO) was upgraded by equities researchers at Goldman Sachs from a “sell” rating to a “neutral” rating in a report issued on Monday, The Fly reports.

Shares of Rio Tinto plc (NYSE:RIO) opened at 28.76 on Monday. Rio Tinto plc has a 1-year low of $21.89 and a 1-year high of $42.61. The company has a 50 day moving average price of $28.93 and a 200-day moving average price of $28.30. The stock’s market capitalization is $51.72 billion.
Other large investors recently added to or reduced their stakes in the company. World Asset Management Inc raised its stake in Rio Tinto plc by 2.3% in the fourth quarter. World Asset Management Inc now owns 74,528 shares of the mining company’s stock valued at $2,170,000 after buying an additional 1,691 shares in the last quarter. Segantii Capital Management Ltd bought a new stake in Rio Tinto plc during the fourth quarter valued at $1,468,000. Sei Investments Co. raised its stake in Rio Tinto plc by 3.1% in the fourth quarter. Sei Investments Co. now owns 418,767 shares of the mining company’s stock valued at $12,195,000 after buying an additional 12,769 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC raised its stake in Rio Tinto plc by 7.5% in the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 1,267,701 shares of the mining company’s stock valued at $36,916,000 after buying an additional 88,627 shares in the last quarter. Finally, Kornitzer Capital Management Inc. KS raised its stake in Rio Tinto plc by 7.2% in the fourth quarter. Kornitzer Capital Management Inc. KS now owns 225,550 shares of the mining company’s stock valued at $6,568,000 after buying an additional 15,210 shares in the last quarter.