Titan Wealth CI Ltd Takes $676,000 Position in Rio Tinto PLC $RIO

Titan Wealth CI Ltd purchased a new position in shares of Rio Tinto PLC (NYSE:RIO) in the 4th quarter, Holdings Channel.com reports. The institutional investor purchased 8,450 shares of the mining company’s stock, valued at approximately $676,000.

Several other large investors also recently added to or reduced their stakes in RIO. Arrowstreet Capital Limited Partnership raised its stake in Rio Tinto by 170.8% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 3,886,335 shares of the mining company’s stock valued at $311,023,000 after acquiring an additional 2,451,140 shares during the period. Milford Funds Ltd. bought a new position in Rio Tinto during the fourth quarter worth about $93,143,000. Deutsche Bank AG increased its stake in shares of Rio Tinto by 102.6% in the fourth quarter. Deutsche Bank AG now owns 2,216,935 shares of the mining company’s stock worth $177,421,000 after purchasing an additional 1,122,667 shares in the last quarter. Natixis Advisors LLC increased its stake in shares of Rio Tinto by 144.7% in the fourth quarter. Natixis Advisors LLC now owns 1,587,387 shares of the mining company’s stock worth $127,039,000 after purchasing an additional 938,687 shares in the last quarter. Finally, Bank of America Corp DE raised its position in shares of Rio Tinto by 31.9% in the third quarter. Bank of America Corp DE now owns 3,157,545 shares of the mining company’s stock valued at $208,430,000 after purchasing an additional 763,786 shares during the period. Hedge funds and other institutional investors own 19.33% of the company’s stock.

Rio Tinto Stock Down 0.1%

Shares of Rio Tinto stock opened at $105.73 on Wednesday. The company’s 50-day moving average price is $102.63 and its 200-day moving average price is $92.64. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.44 and a quick ratio of 0.98. Rio Tinto PLC has a 12-month low of $55.64 and a 12-month high of $112.58.

Analyst Ratings Changes

A number of brokerages recently commented on RIO. Zacks Research cut shares of Rio Tinto from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 7th. JPMorgan Chase & Co. cut shares of Rio Tinto from an “overweight” rating to a “neutral” rating in a report on Monday, March 9th. Sanford C. Bernstein increased their target price on Rio Tinto from $82.00 to $83.50 and gave the stock an “outperform” rating in a research report on Monday, April 27th. Bank of America lowered Rio Tinto from a “buy” rating to a “neutral” rating in a report on Friday, May 22nd. Finally, Royal Bank Of Canada cut Rio Tinto from a “sector perform” rating to an “underperform” rating in a research report on Wednesday, June 3rd. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, nine have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $101.75.

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.