EagleClaw Capital Managment LLC Lowers Holdings in Rio Tinto PLC $RIO

EagleClaw Capital Managment LLC reduced its position in shares of Rio Tinto PLC (NYSE:RIO) by 2.5% in the second quarter, Holdings Channel reports. The firm owned 52,130 shares of the mining company’s stock after selling 1,350 shares during the period. EagleClaw Capital Managment LLC’s holdings in Rio Tinto were worth $3,041,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Goldman Sachs Group Inc. boosted its stake in Rio Tinto by 4.1% during the first quarter. Goldman Sachs Group Inc. now owns 8,368,620 shares of the mining company’s stock valued at $502,787,000 after buying an additional 326,661 shares during the period. Auto Owners Insurance Co raised its holdings in shares of Rio Tinto by 77,150.0% in the 1st quarter. Auto Owners Insurance Co now owns 7,416,000 shares of the mining company’s stock valued at $445,553,000 after acquiring an additional 7,406,400 shares in the last quarter. Kingstone Capital Partners Texas LLC purchased a new stake in shares of Rio Tinto in the 2nd quarter valued at about $292,770,000. Dimensional Fund Advisors LP boosted its position in shares of Rio Tinto by 33.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,938,247 shares of the mining company’s stock valued at $116,510,000 after acquiring an additional 490,357 shares during the last quarter. Finally, Bank of Montreal Can grew its holdings in shares of Rio Tinto by 71.7% during the second quarter. Bank of Montreal Can now owns 1,855,607 shares of the mining company’s stock worth $108,238,000 after purchasing an additional 774,851 shares in the last quarter. Institutional investors own 19.33% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on RIO shares. Morgan Stanley reaffirmed an “overweight” rating on shares of Rio Tinto in a research note on Wednesday, October 8th. Deutsche Bank Aktiengesellschaft cut shares of Rio Tinto from a “buy” rating to a “hold” rating in a research report on Wednesday, July 30th. Zacks Research upgraded shares of Rio Tinto from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 6th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Rio Tinto in a research note on Wednesday, October 8th. Three investment analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $73.00.

Rio Tinto Stock Up 1.1%

Shares of RIO opened at $71.08 on Thursday. Rio Tinto PLC has a fifty-two week low of $51.67 and a fifty-two week high of $73.76. The firm has a 50 day moving average price of $66.93 and a 200-day moving average price of $62.66. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.03 and a current ratio of 1.53.

Rio Tinto Profile

Rio Tinto Group engages in exploring, mining, and processing mineral resources worldwide. The company operates through Iron Ore, Aluminium, Copper, and Minerals Segments. The Iron Ore segment engages in the iron ore mining, and salt and gypsum production in Western Australia. The Aluminum segment is involved in bauxite mining; alumina refining; and aluminium smelting.