Janney Montgomery Scott LLC Sells 28,963 Shares of Rio Tinto PLC $RIO

Janney Montgomery Scott LLC lowered its position in Rio Tinto PLC (NYSE:RIO) by 26.1% during the 1st quarter, HoldingsChannel reports. The fund owned 81,935 shares of the mining company’s stock after selling 28,963 shares during the period. Janney Montgomery Scott LLC’s holdings in Rio Tinto were worth $7,644,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. AdvisorNet Financial Inc boosted its stake in shares of Rio Tinto by 160.2% during the 1st quarter. AdvisorNet Financial Inc now owns 294 shares of the mining company’s stock worth $27,000 after purchasing an additional 181 shares during the period. PFS Partners LLC purchased a new stake in Rio Tinto in the 4th quarter worth about $28,000. Nvest Wealth Strategies Inc. bought a new stake in Rio Tinto in the fourth quarter worth about $28,000. Trust Co. of Toledo NA OH bought a new stake in Rio Tinto in the fourth quarter worth about $34,000. Finally, Evelyn Partners Investment Management LLP purchased a new position in shares of Rio Tinto during the fourth quarter valued at approximately $34,000. Institutional investors own 19.33% of the company’s stock.

Rio Tinto Trading Up 0.0%

Rio Tinto stock opened at $94.44 on Friday. The company has a 50 day moving average price of $102.14 and a 200-day moving average price of $94.56. The company has a quick ratio of 0.98, a current ratio of 1.44 and a debt-to-equity ratio of 0.33. Rio Tinto PLC has a fifty-two week low of $57.65 and a fifty-two week high of $112.58.

Analysts Set New Price Targets

RIO has been the topic of a number of analyst reports. JPMorgan Chase & Co. cut Rio Tinto from an “overweight” rating to a “neutral” rating in a research note on Monday, March 9th. Citigroup reissued a “neutral” rating on shares of Rio Tinto in a research note on Tuesday, May 26th. Zacks Research cut Rio Tinto from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 7th. Argus set a $120.00 price objective on Rio Tinto in a research report on Monday, April 27th. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Rio Tinto in a research note on Wednesday, May 20th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target 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.