8,122 Shares in Rio Tinto PLC $RIO Bought by McAlvany Wealth Management LLC

McAlvany Wealth Management LLC bought a new position in shares of Rio Tinto PLC (NYSE:RIO) in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 8,122 shares of the mining company’s stock, valued at approximately $650,000.

A number of other large investors have also recently added to or reduced their stakes in RIO. PFS Partners LLC acquired a new position in shares of Rio Tinto during the fourth quarter worth about $28,000. Nvest Wealth Strategies Inc. acquired a new stake in Rio Tinto in the 4th quarter valued at approximately $28,000. Evelyn Partners Investment Management LLP acquired a new stake in Rio Tinto in the 4th quarter valued at approximately $34,000. Trust Co. of Toledo NA OH bought a new stake in Rio Tinto in the 4th quarter valued at approximately $34,000. Finally, Glen Eagle Advisors LLC lifted its stake in Rio Tinto by 32.2% in the 4th quarter. Glen Eagle Advisors LLC now owns 452 shares of the mining company’s stock valued at $36,000 after acquiring an additional 110 shares in the last quarter. Institutional investors own 19.33% of the company’s stock.

Analyst Ratings Changes

A number of research firms have weighed in on RIO. Barclays downgraded Rio Tinto from an “overweight” rating to an “equal weight” rating in a research report on Tuesday, February 24th. Bank of America downgraded shares of Rio Tinto from a “buy” rating to a “neutral” rating in a report on Friday, May 22nd. Weiss Ratings reissued a “buy (b-)” rating on shares of Rio Tinto in a research report on Wednesday, May 20th. JPMorgan Chase & Co. cut shares of Rio Tinto from an “overweight” rating to a “neutral” rating in a report on Monday, March 9th. Finally, Citigroup reaffirmed a “neutral” rating on shares of Rio Tinto in a research report on Tuesday, May 26th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $101.75.

Rio Tinto Trading Up 0.1%

RIO opened at $100.22 on Friday. Rio Tinto PLC has a 52-week low of $55.64 and a 52-week high of $112.58. The company has a current ratio of 1.44, a quick ratio of 0.98 and a debt-to-equity ratio of 0.33. The business’s 50-day simple moving average is $102.95 and its 200 day simple moving average is $93.10.

Rio Tinto Profile

Rio Tinto is a global mining and metals company that explores for, mines, processes and markets a wide range of commodities. Its principal products include iron ore, aluminum, copper, diamonds and various other minerals and industrial materials. The company’s activities span the full value chain from exploration and project development to mining, processing, smelting and refining, supplying raw materials to industries such as steelmaking, automotive, packaging, electronics and construction.

The origins of Rio Tinto date back to mining operations in the Rio Tinto region of Spain in the 19th century, and the group has since grown into a multinational enterprise.