Opal Capital LLC Has $4.29 Million Holdings in Rio Tinto PLC $RIO

Opal Capital LLC grew its holdings in Rio Tinto PLC (NYSE:RIO) by 14.0% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 46,041 shares of the mining company’s stock after acquiring an additional 5,665 shares during the quarter. Opal Capital LLC’s holdings in Rio Tinto were worth $4,295,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of RIO. AdvisorNet Financial Inc raised its stake in Rio Tinto by 160.2% during the 1st quarter. AdvisorNet Financial Inc now owns 294 shares of the mining company’s stock valued at $27,000 after purchasing an additional 181 shares during the last quarter. PFS Partners LLC bought a new stake in Rio Tinto in the 4th quarter valued at $28,000. Nvest Wealth Strategies Inc. bought a new stake in Rio Tinto in the 4th quarter valued at $28,000. V Square Quantitative Management LLC acquired a new stake in Rio Tinto in the 1st quarter worth $35,000. Finally, Costello Asset Management INC acquired a new stake in Rio Tinto in the 1st quarter worth $37,000. Institutional investors and hedge funds own 19.33% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating on shares of Rio Tinto in a research report on Friday, May 15th. Argus set a $120.00 target price on Rio Tinto in a research report on Monday, April 27th. Weiss Ratings restated a “buy (b-)” rating on shares of Rio Tinto in a research note on Wednesday, May 20th. Royal Bank Of Canada cut Rio Tinto from a “sector perform” rating to an “underperform” rating in a report on Wednesday, June 3rd. Finally, Citigroup reiterated a “neutral” rating on shares of Rio Tinto in a research report on Thursday, July 9th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, seven have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $101.75.

Rio Tinto Stock Performance

Shares of RIO stock opened at $91.61 on Wednesday. Rio Tinto PLC has a 52-week low of $58.40 and a 52-week high of $112.58. 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 fifty day moving average of $98.03 and a 200-day moving average of $95.95.

Rio Tinto (NYSE:RIO) last released its quarterly earnings data on Tuesday, July 28th. The mining company reported $2.03 EPS for the quarter, missing analysts’ consensus estimates of $4.09 by ($2.06). The firm had revenue of $15.51 billion for the quarter, compared to the consensus estimate of $31.62 billion. On average, equities research analysts forecast that Rio Tinto PLC will post 8.48 earnings per share for the current year.

Key Rio Tinto News

Here are the key news stories impacting Rio Tinto this week:

• Positive Sentiment: Rio Tinto reported a significant improvement in first-half performance, with underlying EBITDA up 28% and free cash flow up 75%, helped by favorable commodity prices and operating improvements. Rio Tinto: Step-change in performance delivering higher shareholder returns
• Positive Sentiment: Copper-equivalent production increased 3%, while Copper, Aluminium and Lithium accounted for more than half of the portfolio, reinforcing Rio Tinto’s exposure to energy-transition commodities and improving diversification. Rio Tinto: Step-change in performance delivering higher shareholder returns
• Positive Sentiment: Analysts expected first-half earnings and the interim dividend to rise, and several investor commentaries continued to identify Rio Tinto as a buy or income-oriented holding. This may provide underlying support for the shares. Rio Tinto’s First-Half Earnings, Dividend Expected to Rise
• Neutral Sentiment: Rio Tinto and Western Australia signed non-binding agreements to sell their joint-venture interests in the Dampier Seawater Desalination Plant to Yindjibarndi WaterCo. The proposed $1.1 billion transaction could generate cash and strengthen Indigenous partnerships, although completion remains subject to further conditions. Desalination Plant Proposed Sale
• Neutral Sentiment: A proposed Canadian settlement notice relates to litigation involving Rio Tinto and former Turquoise Hill executives. The financial impact is not specified, leaving the near-term stock effect uncertain. TRQ Securities Class Action Proposed Settlement

About Rio Tinto

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.