57,295 Rio Tinto PLC $RIO Shares Sold by Trek Financial LLC

Trek Financial LLC reduced its position in Rio Tinto PLC (NYSE:RIO) by 95.2% in the 3rd quarter, Holdings Channel reports. The firm owned 2,912 shares of the mining company’s stock after selling 57,295 shares during the period. Trek Financial LLC’s holdings in Rio Tinto were worth $274,000 as of its most recent filing with the SEC.

A number of other large investors have also recently made changes to their positions in the company. Tidal Investments LLC lifted its stake in Rio Tinto by 17.9% in the second quarter. Tidal Investments LLC now owns 115,936 shares of the mining company’s stock valued at $11,006,000 after buying an additional 17,597 shares during the last quarter. TD Waterhouse Canada Inc. boosted its holdings in shares of Rio Tinto by 43.2% in the second quarter. TD Waterhouse Canada Inc. now owns 100,630 shares of the mining company’s stock valued at $9,403,000 after acquiring an additional 30,373 shares during the period. Engineers Gate Manager LP acquired a new stake in shares of Rio Tinto in the second quarter valued at approximately $3,957,000. Cidel Asset Management Inc. grew its position in shares of Rio Tinto by 101.1% during the second quarter. Cidel Asset Management Inc. now owns 241,718 shares of the mining company’s stock worth $22,946,000 after acquiring an additional 121,537 shares during the last quarter. Finally, Dynamic Advisor Solutions LLC purchased a new position in shares of Rio Tinto during the second quarter worth approximately $3,364,000. 19.33% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

RIO has been the topic of a number of recent research reports. Barclays reaffirmed a “neutral” rating on shares of Rio Tinto in a report on Tuesday, July 7th. Weiss Ratings reiterated a “buy (b)” rating on shares of Rio Tinto in a research note on Wednesday, October 28th. Royal Bank Of Canada upgraded shares of Rio Tinto from an “underperform” rating to a “sector perform” rating in a research note on Tuesday, October 6th. Citigroup reissued a “neutral” rating on shares of Rio Tinto in a research report on Tuesday, October 13th. Finally, Morgan Stanley initiated coverage on shares of Rio Tinto in a research note on Monday, August 24th. They issued an “underweight” rating and a $90.00 price objective on the stock. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, thirteen have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $101.62.

Rio Tinto Stock Down 1.3%

RIO opened at $81.62 on Wednesday. Rio Tinto PLC has a 52 week low of $67.74 and a 52 week high of $112.58. The business has a 50 day moving average price of $94.47 and a two-hundred day moving average price of $96.22. The company has a quick ratio of 0.93, a current ratio of 1.42 and a debt-to-equity ratio of 0.29.

Rio Tinto Company Profile

Rio Tinto plc is a diversified mining and metals company with operations and projects spanning multiple continents. Its principal products include iron ore, aluminum, copper, lithium, borates and titanium dioxide, which are supplied to customers in the steel, construction, automotive, technology and manufacturing industries.

The company explores for, mines, processes and transports mineral resources, while also operating related infrastructure such as railways, ports, smelters and processing facilities.