Rio Tinto PLC $RIO Shares Purchased by Lmcg Investments LLC

Lmcg Investments LLC boosted its position in Rio Tinto PLC (NYSE:RIO) by 12.1% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 57,620 shares of the mining company’s stock after acquiring an additional 6,229 shares during the period. Lmcg Investments LLC’s holdings in Rio Tinto were worth $5,375,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of RIO. Glen Eagle Advisors LLC grew its position in shares of Rio Tinto by 32.2% in the fourth 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 during the period. Wealth Quarterback LLC lifted its position in Rio Tinto by 1.8% during the fourth quarter. Wealth Quarterback LLC now owns 6,532 shares of the mining company’s stock worth $523,000 after buying an additional 118 shares during the period. Americana Partners LLC lifted its position in Rio Tinto by 0.8% during the fourth quarter. Americana Partners LLC now owns 16,108 shares of the mining company’s stock worth $1,289,000 after buying an additional 120 shares during the period. Cary Street Partners Investment Advisory LLC boosted its stake in Rio Tinto by 19.1% in the 4th quarter. Cary Street Partners Investment Advisory LLC now owns 772 shares of the mining company’s stock worth $62,000 after buying an additional 124 shares during the last quarter. Finally, Bailard Inc. boosted its stake in Rio Tinto by 1.1% in the 4th quarter. Bailard Inc. now owns 12,306 shares of the mining company’s stock worth $985,000 after buying an additional 128 shares during the last quarter. 19.33% of the stock is currently owned by institutional investors and hedge funds.

Rio Tinto News Roundup

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

• Neutral Sentiment: Jefferies maintained its Hold rating on Rio Tinto, offering no fresh catalyst to change the stock’s direction. Jefferies Sticks to Its Hold Rating for Rio Tinto (RIO)
• Neutral Sentiment: Rio Tinto ended its partnership in Sovereign Metals’ Malawi project after declining an option to become operator, with the company citing a shift in corporate strategy and a review of its iron and titanium business. Rio Tinto concludes partnership in Sovereign’s Malawi project
• Neutral Sentiment: Related coverage says Sovereign Metals will now pursue its Kasiya project more independently and refocus on a US critical minerals strategy after Rio Tinto stepped back, which suggests Rio is narrowing its exposure rather than expanding it. Sovereign Metals plans US strategic minerals pivot for Kasiya project as Rio Tinto passes on project option
• Neutral Sentiment: Rio Tinto also appeared in broader market commentary showing miners under pressure in London trading, which may be adding to weakness in the shares. FTSE 100 Live: Shell and consumer giants make gains, while miners and defence sell off

Rio Tinto Trading Down 2.5%

RIO opened at $88.97 on Thursday. Rio Tinto PLC has a 1 year low of $58.15 and a 1 year high of $112.58. The firm has a 50 day moving average price of $101.64 and a 200 day moving average price of $94.99. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.44 and a quick ratio of 0.98.

Wall Street Analysts Forecast Growth

Several analysts have commented on RIO shares. Citigroup restated a “neutral” rating on shares of Rio Tinto in a report on Tuesday, May 26th. Weiss Ratings reissued a “buy (b-)” rating on shares of Rio Tinto in a research report on Wednesday, May 20th. DZ Bank upgraded shares of Rio Tinto from a “hold” rating to a “strong-buy” rating in a report on Friday, May 29th. Sanford C. Bernstein upped their price target on shares of Rio Tinto from $82.00 to $83.50 and gave the stock an “outperform” rating in a research report on Monday, April 27th. Finally, Zacks Research lowered shares of Rio Tinto from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 7th. 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.com, the stock presently has a consensus rating of “Hold” and an average target price of $101.75.

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.