Rio Tinto PLC $RIO Shares Purchased by Cetera Investment Advisers

Cetera Investment Advisers grew its position in shares of Rio Tinto PLC (NYSE:RIO) by 4.7% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 181,852 shares of the mining company’s stock after buying an additional 8,219 shares during the period. Cetera Investment Advisers’ holdings in Rio Tinto were worth $16,965,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Shrier Wealth Management LLC bought a new stake in Rio Tinto during the fourth quarter valued at $1,280,000. QSM Asset Management Ltd raised its holdings in shares of Rio Tinto by 32.1% during the fourth quarter. QSM Asset Management Ltd now owns 230,700 shares of the mining company’s stock worth $18,463,000 after purchasing an additional 56,000 shares during the period. D.A. Davidson & CO. lifted its position in shares of Rio Tinto by 16.7% in the 4th quarter. D.A. Davidson & CO. now owns 124,182 shares of the mining company’s stock worth $9,938,000 after buying an additional 17,786 shares during the last quarter. Oak Harvest Investment Services bought a new position in shares of Rio Tinto in the 4th quarter worth about $15,210,000. Finally, Vanguard Capital Wealth Advisors acquired a new position in shares of Rio Tinto in the 4th quarter valued at about $955,000. Institutional investors own 19.33% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on RIO shares. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating on shares of Rio Tinto in a research note on Friday, May 15th. Morgan Stanley downgraded Rio Tinto from an “equal weight” rating to an “underweight” rating in a research note on Wednesday, July 8th. Zacks Research cut Rio Tinto from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 7th. Argus set a $120.00 price target on Rio Tinto in a report on Monday, April 27th. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of Rio Tinto in a report on Wednesday, May 20th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, seven have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, Rio Tinto currently has an average rating of “Hold” and a consensus price target of $101.75.

More 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

Rio Tinto Trading Down 0.4%

RIO stock opened at $91.61 on Wednesday. The firm’s 50-day simple moving average is $98.03 and its 200 day simple moving average is $95.95. Rio Tinto PLC has a fifty-two week low of $58.40 and a fifty-two week high of $112.58. 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 (NYSE:RIO) last posted its earnings results on Tuesday, July 28th. The mining company reported $2.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.09 by ($2.06). The business had revenue of $15.51 billion for the quarter, compared to analysts’ expectations of $31.62 billion. Analysts predict that Rio Tinto PLC will post 8.48 EPS for the current year.

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.