Quantbot Technologies LP Has $3.26 Million Stock Position in Rio Tinto PLC $RIO

Quantbot Technologies LP cut its holdings in Rio Tinto PLC (NYSE:RIO) by 15.6% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 55,902 shares of the mining company’s stock after selling 10,358 shares during the quarter. Quantbot Technologies LP’s holdings in Rio Tinto were worth $3,261,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of RIO. Pandora Wealth Inc. bought a new stake in shares of Rio Tinto in the 1st quarter valued at $30,000. Pinpoint Asset Management Singapore Pte. Ltd. acquired a new stake in Rio Tinto in the second quarter worth $38,000. MTM Investment Management LLC acquired a new stake in Rio Tinto in the second quarter worth $43,000. Hilltop National Bank bought a new stake in Rio Tinto in the second quarter valued at $44,000. Finally, Resources Management Corp CT ADV acquired a new position in shares of Rio Tinto during the first quarter valued at about $48,000. Institutional investors and hedge funds own 19.33% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on RIO. Zacks Research downgraded Rio Tinto from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 19th. Morgan Stanley reiterated an “overweight” rating on shares of Rio Tinto in a report on Wednesday, October 8th. Weiss Ratings reissued a “hold (c+)” rating on shares of Rio Tinto in a research note on Monday. Citigroup restated a “hold” rating on shares of Rio Tinto in a report on Monday, November 17th. Finally, Royal Bank Of Canada reaffirmed a “sector perform” rating on shares of Rio Tinto in a research report on Monday. Two investment analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $73.00.

Rio Tinto Trading Down 0.7%

RIO stock opened at $73.76 on Friday. The company has a current ratio of 1.53, a quick ratio of 1.03 and a debt-to-equity ratio of 0.37. The business has a 50-day simple moving average of $69.54 and a two-hundred day simple moving average of $63.83. Rio Tinto PLC has a 52-week low of $51.67 and a 52-week high of $74.53.

About Rio Tinto

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.