Opal Capital LLC Invests $3.23 Million in Rio Tinto PLC $RIO

Opal Capital LLC purchased a new position in Rio Tinto PLC (NYSE:RIO) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 40,376 shares of the mining company’s stock, valued at approximately $3,231,000.

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

Rio Tinto Trading Down 0.1%

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

Wall Street Analyst Weigh In

RIO has been the subject of several recent analyst reports. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating on shares of Rio Tinto in a research note on Friday, May 15th. Zacks Research lowered shares of Rio Tinto from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 7th. Argus set a $120.00 price objective on shares of Rio Tinto in a research note on Monday, April 27th. Sanford C. Bernstein boosted their price objective on shares of Rio Tinto from $82.00 to $83.50 and gave the stock an “outperform” rating in a research note on Monday, April 27th. Finally, DZ Bank upgraded shares of Rio Tinto from a “hold” rating to a “strong-buy” rating in a research note on Friday, May 29th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $101.75.

Rio Tinto Company 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.