RPG Investment Advisory LLC decreased its stake in shares of Rio Tinto plc (NYSE:RIO) by 65.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 27,676 shares of the mining company’s stock after selling 53,267 shares during the period. RPG Investment Advisory LLC’s holdings in Rio Tinto plc were worth $1,125,000 at the end of the most recent quarter.
Other large investors have also made changes to their positions in the company. Luminus Management LLC acquired a new stake in shares of Rio Tinto plc during the fourth quarter valued at about $138,568,000. Credit Suisse AG raised its stake in shares of Rio Tinto plc by 2,738.9% in the third quarter. Credit Suisse AG now owns 1,756,844 shares of the mining company’s stock valued at $58,678,000 after buying an additional 1,694,960 shares in the last quarter. Todd Asset Management LLC acquired a new stake in shares of Rio Tinto plc during the first quarter valued at about $44,378,000. Sumitomo Mitsui Trust Holdings Inc. acquired a new stake in shares of Rio Tinto plc during the third quarter valued at about $35,543,000. Finally, Impala Asset Management LLC raised its stake in shares of Rio Tinto plc by 31.5% in the fourth quarter. Impala Asset Management LLC now owns 4,416,713 shares of the mining company’s stock valued at $169,866,000 after buying an additional 1,057,429 shares in the last quarter. 6.63% of the stock is owned by hedge funds and other institutional investors.
Shares of Rio Tinto plc (NYSE:RIO) traded down 0.45% on Wednesday, reaching $41.67. The company’s stock had a trading volume of 607,279 shares. Rio Tinto plc has a 12-month low of $26.95 and a 12-month high of $47.11. The company has a market capitalization of $74.97 billion, a price-to-earnings ratio of 16.32 and a beta of 1.19. The company’s 50-day moving average is $39.80 and its 200 day moving average is $40.76. Rio Tinto plc also was the target of unusually large options trading on Monday. Stock investors bought 7,324 put options on the company. This represents an increase of approximately 503% compared to the typical volume of 1,214 put options.
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Several equities research analysts have recently issued reports on RIO shares. Zacks Investment Research raised Rio Tinto plc from a “hold” rating to a “strong-buy” rating and set a $47.00 target price for the company in a research report on Wednesday, April 12th. Citigroup Inc raised Rio Tinto plc from a “neutral” rating to a “buy” rating in a research report on Thursday, April 20th. Jefferies Group LLC reaffirmed a “buy” rating on shares of Rio Tinto plc in a research report on Thursday, January 26th. BNP Paribas raised Rio Tinto plc from a “neutral” rating to an “outperform” rating in a research report on Thursday, April 20th. Finally, Royal Bank of Canada raised Rio Tinto plc from an “outperform” rating to a “top pick” rating in a research report on Wednesday, May 17th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating, thirteen have issued a buy rating and three have given a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $41.86.
About Rio Tinto plc
Rio Tinto plc is a mining and metals company. The Company’s business is finding, mining and processing mineral resources. The Company’s segments include Iron Ore, Aluminium, Copper & Diamonds, Energy & Minerals and Other Operations. The Company operates an iron ore business, supplying the global seaborne iron ore trade.
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