Rio Tinto PLC $RIO Stock: Provenance Wealth Advisors LLC Grows Holdings

Provenance Wealth Advisors LLC grew its holdings in Rio Tinto PLC (NYSE:RIO) by 750.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,200 shares of the mining company’s stock after purchasing an additional 9,000 shares during the quarter. Provenance Wealth Advisors LLC’s holdings in Rio Tinto were worth $961,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Miramontes Capital LLC raised its holdings in shares of Rio Tinto by 1.7% during the 2nd quarter. Miramontes Capital LLC now owns 5,863 shares of the mining company’s stock worth $557,000 after acquiring an additional 99 shares during the period. Parkside Financial Bank & Trust grew its holdings in shares of Rio Tinto by 2.0% in the second quarter. Parkside Financial Bank & Trust now owns 5,865 shares of the mining company’s stock valued at $557,000 after purchasing an additional 114 shares during the period. Asset Allocation Strategies LLC grew its holdings in shares of Rio Tinto by 4.0% in the second quarter. Asset Allocation Strategies LLC now owns 3,010 shares of the mining company’s stock valued at $286,000 after purchasing an additional 117 shares during the period. Trust Point Inc. grew its holdings in shares of Rio Tinto by 2.0% in the second quarter. Trust Point Inc. now owns 5,989 shares of the mining company’s stock valued at $569,000 after purchasing an additional 118 shares during the period. Finally, Walker Asset Management LLC increased its position in Rio Tinto by 2.5% during the second quarter. Walker Asset Management LLC now owns 4,866 shares of the mining company’s stock worth $462,000 after purchasing an additional 120 shares during the last quarter. 19.33% of the stock is currently owned by institutional investors and hedge funds.

Rio Tinto Stock Performance

Rio Tinto stock opened at $84.50 on Thursday. Rio Tinto PLC has a twelve month low of $68.18 and a twelve month high of $112.58. The stock’s fifty day simple moving average is $94.02 and its 200-day simple moving average is $96.21. The company has a quick ratio of 0.93, a current ratio of 1.42 and a debt-to-equity ratio of 0.29.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on RIO shares. Berenberg Bank reissued a “buy” rating on shares of Rio Tinto in a research note on Wednesday, September 30th. Erste Group Bank lowered shares of Rio Tinto from a “buy” rating to a “hold” rating in a research report on Thursday, August 27th. Citigroup reiterated a “neutral” rating on shares of Rio Tinto in a report on Tuesday, October 13th. Jefferies Financial Group reiterated a “neutral” rating on shares of Rio Tinto in a research report on Thursday, August 20th. Finally, Zacks Research raised Rio Tinto from a “strong sell” rating to a “hold” rating in a research note on Wednesday, September 2nd. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, thirteen have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $101.62.

Rio Tinto Profile

Rio Tinto plc is a diversified mining and metals company with operations and projects spanning multiple continents. Its principal products include iron ore, aluminum, copper, lithium, borates and titanium dioxide, which are supplied to customers in the steel, construction, automotive, technology and manufacturing industries.

The company explores for, mines, processes and transports mineral resources, while also operating related infrastructure such as railways, ports, smelters and processing facilities.