Y Intercept Hong Kong Ltd Buys 29,226 Shares of Rio Tinto PLC $RIO

Y Intercept Hong Kong Ltd boosted its position in Rio Tinto PLC (NYSE:RIO) by 275.6% in the first quarter, HoldingsChannel.com reports. The firm owned 39,832 shares of the mining company’s stock after acquiring an additional 29,226 shares during the period. Y Intercept Hong Kong Ltd’s holdings in Rio Tinto were worth $3,716,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. Fisher Asset Management LLC raised its holdings in shares of Rio Tinto by 2.7% in the fourth quarter. Fisher Asset Management LLC now owns 19,642,744 shares of the mining company’s stock worth $1,572,009,000 after buying an additional 522,576 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its holdings in shares of Rio Tinto by 170.8% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 3,886,335 shares of the mining company’s stock worth $311,023,000 after purchasing an additional 2,451,140 shares during the period. Bank of America Corp DE lifted its holdings in shares of Rio Tinto by 31.9% during the third quarter. Bank of America Corp DE now owns 3,157,545 shares of the mining company’s stock worth $208,430,000 after purchasing an additional 763,786 shares during the period. Bank of Montreal Can boosted its position in Rio Tinto by 8.6% in the fourth quarter. Bank of Montreal Can now owns 2,221,469 shares of the mining company’s stock valued at $177,784,000 after buying an additional 175,833 shares during the last quarter. Finally, Deutsche Bank AG increased its holdings in Rio Tinto by 102.6% in the 4th quarter. Deutsche Bank AG now owns 2,216,935 shares of the mining company’s stock worth $177,421,000 after buying an additional 1,122,667 shares during the period. 19.33% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have issued reports on RIO. Argus set a $120.00 price target on shares of Rio Tinto in a research report on Monday, April 27th. Citigroup reiterated a “neutral” rating on shares of Rio Tinto in a research note on Tuesday, May 26th. Royal Bank Of Canada cut shares of Rio Tinto from a “sector perform” rating to an “underperform” rating in a report on Wednesday, June 3rd. Zacks Research downgraded Rio Tinto from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 7th. Finally, Sanford C. Bernstein increased their price target on Rio Tinto from $82.00 to $83.50 and gave the stock an “outperform” rating in a research report on Monday, April 27th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $101.75.

Rio Tinto Stock Performance

Shares of RIO traded down $2.30 during trading hours on Tuesday, hitting $91.28. The stock had a trading volume of 830,867 shares, compared to its average volume of 3,237,522. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.98 and a current ratio of 1.44. The firm has a 50-day moving average price of $102.14 and a 200 day moving average price of $94.69. Rio Tinto PLC has a fifty-two week low of $58.15 and a fifty-two week high of $112.58.

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.