Wellington Management Co. LLP has recently announced that it has increased stake in Rio Tinto plc ADR (NYSE:RIO) by 41.04%. After grabbing 23.19 million shares, the institutional investor is now in possession of 6.75 million shares of the Basic Materials Company. The new investment brought the stake of investor firm to 1.85% having worth around $1.6 billion. Moreover, Fisher Asset Management LLC increased its share by 0.68 million to have a control over 15.57 million shares. And Franklin Advisers, Inc. raised its holdings to 10200.0 shares by acquiring 6.36 million shares or 0.51% of the stake.
Rio Tinto plc ADR (RIO) concluded trading on 12/28/23 at a closing price of $74.54, with 2.4 million shares of worth about $179.0 million changed hands on the day. Half year performance of the stock remained positive as price took a surge of 16.83% during that period and on Thursday the price saw a loss of about -0.31%. Currently the company’s common shares owned by public are about 1.25B shares, out of which, 1.25B shares are available for trading.
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A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 7 analysts are covering the RIO stock and their offered price forecasts bring an average price target of $77.09. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $100.75 and could fall to a lowest price of $62.14. The stock’s current price level is 10.85% above of average price target set by the analysts, while a rise to estimated low would result in loss of -19.95% for the stock. However, touching the estimated high of $100.75 would mean a gain of 26.01% for the stock.
Vanguard Equity Income Fund, Washington Mutual Investors Fund, and Vanguard Wellesley Income Fund are the top 3 mutual funds which are holding stakes in Rio Tinto plc ADR Vanguard Equity Income Fund is currently holding 8.75 million shares of worth totaling $604.39 million. The company recently came buying 3.08 million shares which brought its stake up to 0.70% of the company’s outstanding shares. Washington Mutual Investors Fund sold -0.85 million shares, after which its hold over company’s outstanding shares shrunk to 0.62%, leaving 7.76 million shares with the mutual fund that have a worth of about $536.29 million. Vanguard Wellesley Income Fund, after buying 5.01 million shares, have now control over 0.40% of the stake in the company. It holds 1.07 million shares of worth $346.24 million.
Rio Tinto plc ADR (NYSE: RIO) started trading at $74.64, below -$0.13 from concluding price of the previous day. However, the stock later moved at a day high price of 75.09, or with a loss of -0.31%. Stock saw a price change of 2.87% in past 5 days and over the past one month there was a price change of 7.36%. Year-to-date (YTD), RIO shares are showing a performance of 4.69% which increased to 4.35% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $58.27 but also hit the highest price of $80.51 during that period. The average intraday trading volume for Rio Tinto plc ADR shares is 3.08 million. The stock is currently trading 4.56% above its 20-day simple moving average (SMA20), while that difference is up 9.80% for SMA50 and it goes to 14.60% higher than SMA200.
Wellington Management Co. LLP acquired 23.19 million shares of Rio Tinto plc ADR having value of about $1.6 billion. Data submitted at the U.S SEC by Wellington Management Co. LLP revealed that the firm now holds 6.75 million shares in the company valued at close to $503055477.46, or have control over 41.04% stake in the company. Rio Tinto plc ADR (NYSE: RIO) currently have 1.25B outstanding shares and institutions hold larger chunk of about 10.51% of that. Holding of mutual funds in the company is about 4.12% while other institutional holders and individual stake holders have control over 6.38% and — of the stake respectively.
The stock has a current market capitalization of $93.26B and its 3Y-monthly beta is at 0.81. PE ratio of stock for trailing 12 months is 13.81, while it has posted earnings per share of $5.40 in the same period. It has Quick Ratio of 1.37 while making debt-to-equity ratio of 0.27. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for RIO, volatility over the week remained 0.80% while standing at 1.20% over the month.
Analysts are in expectations that Rio Tinto plc ADR (RIO) stock would likely to be making an EPS of $0 in the current quarter, while forecast for next quarter EPS is $0 and it is $0 for next year. For the current quarter EPS, analysts have given the company a lowest target $0 which is $0 at the higher side of the target for the same. Stock’s fiscal year EPS is expected to drop by -10.01% while it is estimated to increase by 3.96% in next year. EPS is likely to shrink at an annualized rate of -3.30% for next 5-years, compared to annual growth of 9.35% made by the stock over the past 5-years.
Analysts at 7 brokerage firms have issued recommendations for the Rio Tinto plc ADR (RIO)’s stock and average of those rates the stock at a “Strong Buy” and assign it a score of 1.86. Out of those 7 Wall Street analysts, 3 recommended a “Buy” rating, while 2 were in favor recommending the stock as a “Hold” and 0 analyst recommended the stock as “Sell”.
