Rio Tinto PLC $RIO Shares Sold by Engineers Gate Manager LP

Engineers Gate Manager LP reduced its holdings in shares of Rio Tinto PLC (NYSE:RIO) by 36.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 249,356 shares of the mining company’s stock after selling 143,946 shares during the period. Engineers Gate Manager LP’s holdings in Rio Tinto were worth $19,956,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in RIO. PFS Partners LLC purchased a new stake in shares of Rio Tinto during the fourth quarter worth $28,000. Nvest Wealth Strategies Inc. acquired a new position in Rio Tinto during the 4th quarter worth $28,000. Trust Co. of Toledo NA OH purchased a new stake in Rio Tinto during the 4th quarter worth about $34,000. Evelyn Partners Investment Management LLP purchased a new stake in Rio Tinto during the 4th quarter worth about $34,000. Finally, Glen Eagle Advisors LLC raised its position in Rio Tinto by 32.2% in the 4th quarter. Glen Eagle Advisors LLC now owns 452 shares of the mining company’s stock valued at $36,000 after purchasing an additional 110 shares in the last quarter. Hedge funds and other institutional investors own 19.33% of the company’s stock.

Wall Street Analysts Forecast Growth

RIO has been the subject of a number of analyst reports. Royal Bank Of Canada downgraded Rio Tinto from a “sector perform” rating to an “underperform” rating in a research report on Wednesday, June 3rd. Argus set a $120.00 price target on shares of Rio Tinto in a research note on Monday, April 27th. Sanford C. Bernstein boosted their price target on shares of Rio Tinto from $82.00 to $83.50 and gave the stock an “outperform” rating in a report on Monday, April 27th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating on shares of Rio Tinto in a research report on Friday, May 15th. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Rio Tinto in a research report on Wednesday, May 20th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $101.75.

Rio Tinto Price Performance

Shares of Rio Tinto stock opened at $102.74 on Thursday. The company has a current ratio of 1.44, a quick ratio of 0.98 and a debt-to-equity ratio of 0.33. Rio Tinto PLC has a 52 week low of $55.64 and a 52 week high of $112.58. The firm’s 50 day moving average is $102.80 and its two-hundred day moving average is $92.85.

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.