Capula Management Ltd Purchases New Shares in Rio Tinto PLC $RIO

Capula Management Ltd purchased a new position in shares of Rio Tinto PLC (NYSE:RIO) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 7,020 shares of the mining company’s stock, valued at approximately $655,000.

A number of other institutional investors have also added to or reduced their stakes in the company. AdvisorNet Financial Inc lifted its position in shares of Rio Tinto by 160.2% during the 1st quarter. AdvisorNet Financial Inc now owns 294 shares of the mining company’s stock worth $27,000 after buying an additional 181 shares in the last quarter. PFS Partners LLC purchased a new stake in shares of Rio Tinto during the fourth quarter valued at approximately $28,000. Nvest Wealth Strategies Inc. bought a new stake in Rio Tinto during the fourth quarter worth $28,000. V Square Quantitative Management LLC bought a new stake in Rio Tinto during the first quarter worth $35,000. Finally, Costello Asset Management INC purchased a new position in Rio Tinto in the first quarter worth $37,000. 19.33% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. Bank of America lowered Rio Tinto from a “buy” rating to a “neutral” rating in a research report on Friday, May 22nd. Morgan Stanley downgraded shares of Rio Tinto from an “equal weight” rating to an “underweight” rating in a report on Wednesday, July 8th. Argus set a $120.00 price target on shares of Rio Tinto in a research report on Monday, April 27th. Citigroup restated a “neutral” rating on shares of Rio Tinto in a report on Thursday, July 9th. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Rio Tinto in a research report on Wednesday, May 20th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, seven have given a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $101.75.

Rio Tinto Stock Down 0.8%

NYSE:RIO opened at $91.56 on Friday. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.44 and a quick ratio of 0.98. The business has a fifty day simple moving average of $98.69 and a two-hundred day simple moving average of $95.80. Rio Tinto PLC has a 1 year low of $58.40 and a 1 year high of $112.58.

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.