Teachers Retirement System of The State of Kentucky Has $50.91 Million Holdings in Rio Tinto PLC $RIO

Teachers Retirement System of The State of Kentucky lessened its position in Rio Tinto PLC (NYSE:RIO) by 21.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 545,770 shares of the mining company’s stock after selling 152,000 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in Rio Tinto were worth $50,915,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of RIO. AdvisorNet Financial Inc grew its position in shares of Rio Tinto by 160.2% in the first 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 acquired a new position in shares of Rio Tinto during the 4th quarter worth about $28,000. Nvest Wealth Strategies Inc. bought a new stake in Rio Tinto during the 4th quarter valued at approximately $28,000. Trust Co. of Toledo NA OH bought a new stake in Rio Tinto during the 4th quarter valued at approximately $34,000. Finally, Evelyn Partners Investment Management LLP acquired a new stake in Rio Tinto in the 4th quarter valued at approximately $34,000. Institutional investors and hedge funds own 19.33% of the company’s stock.

Rio Tinto Trading Up 0.0%

Shares of RIO stock opened at $90.55 on Monday. The stock has a 50 day moving average of $101.35 and a two-hundred day moving average of $95.14. 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 12 month low of $58.15 and a 12 month high of $112.58.

Rio Tinto News Summary

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

• Positive Sentiment: Rio Tinto has been called inexpensive on earnings by one valuation view, suggesting the stock may still offer value despite recent weakness. Rio Tinto (LSE:RIO) Stock May Be Fully Priced On Cash Flow Yet A Bargain On Earnings
• Positive Sentiment: Stronger metals prices have lifted sentiment across miners, which could help Rio Tinto if commodity strength continues. Gold and copper miners back in fashion
• Neutral Sentiment: UBS said Rio Tinto may need to expand its copper project pipeline to avoid a growth gap after 2030, highlighting a long-term strategic issue rather than an immediate operational problem. Rio Tinto may need to bulk up its copper pipeline, Swiss bank says
• Neutral Sentiment: Barclays kept a Hold rating on Rio Tinto, reinforcing a cautious but not outright negative analyst stance. Barclays Keeps Their Hold Rating on Rio Tinto (RIO)
• Negative Sentiment: Analyst downgrade headlines and reports that Rio Tinto stepped back from a major critical minerals project may have added to investor concern about future growth and project execution. Miners, banks pull ASX down; Rio Tinto drops on downgrade
• Negative Sentiment: Rio Tinto also underperformed the market in Wednesday trading, suggesting recent momentum has been weaker than peers. Rio Tinto falls Wednesday, underperforms market

Wall Street Analyst Weigh In

Several brokerages have commented on RIO. Royal Bank Of Canada downgraded Rio Tinto from a “sector perform” rating to an “underperform” rating in a research report on Wednesday, June 3rd. Morgan Stanley downgraded shares of Rio Tinto from an “equal weight” rating to an “underweight” rating in a research note on Wednesday. Sanford C. Bernstein boosted their target price 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. Zacks Research lowered shares of Rio Tinto from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 7th. Finally, Bank of America cut shares of Rio Tinto from a “buy” rating to a “neutral” rating in a research note on Friday, May 22nd. One research 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. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target 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.