Ethic Inc. Has $255,000 Position in Rio Tinto PLC $RIO

Ethic Inc. reduced its stake in shares of Rio Tinto PLC (NYSE:RIO) by 45.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 4,339 shares of the mining company’s stock after selling 3,578 shares during the quarter. Ethic Inc.’s holdings in Rio Tinto were worth $255,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in RIO. GAMMA Investing LLC boosted its holdings in shares of Rio Tinto by 36.8% during the first quarter. GAMMA Investing LLC now owns 2,546 shares of the mining company’s stock worth $153,000 after purchasing an additional 685 shares during the period. Bessemer Group Inc. boosted its holdings in shares of Rio Tinto by 61.8% during the first quarter. Bessemer Group Inc. now owns 5,195 shares of the mining company’s stock worth $312,000 after purchasing an additional 1,985 shares during the period. Allspring Global Investments Holdings LLC boosted its holdings in shares of Rio Tinto by 18.4% during the first quarter. Allspring Global Investments Holdings LLC now owns 118,221 shares of the mining company’s stock worth $7,120,000 after purchasing an additional 18,368 shares during the period. Sumitomo Mitsui Trust Group Inc. lifted its stake in Rio Tinto by 1.0% in the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 55,131 shares of the mining company’s stock valued at $3,312,000 after acquiring an additional 550 shares during the last quarter. Finally, Vontobel Holding Ltd. lifted its stake in Rio Tinto by 48.7% in the first quarter. Vontobel Holding Ltd. now owns 13,700 shares of the mining company’s stock valued at $823,000 after acquiring an additional 4,488 shares during the last quarter. 19.33% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the stock. Weiss Ratings reiterated a “hold (c)” rating on shares of Rio Tinto in a research note on Wednesday, October 8th. Morgan Stanley reiterated an “overweight” rating on shares of Rio Tinto in a research note on Wednesday, October 8th. Deutsche Bank Aktiengesellschaft cut shares of Rio Tinto from a “buy” rating to a “hold” rating in a research note on Wednesday, July 30th. Zacks Research upgraded shares of Rio Tinto from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 6th. Finally, Berenberg Bank reiterated a “hold” rating on shares of Rio Tinto in a research note on Thursday, July 3rd. Three investment analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, Rio Tinto presently has an average rating of “Moderate Buy” and an average target price of $73.00.

Rio Tinto Trading Down 0.6%

Shares of RIO stock opened at $72.16 on Friday. Rio Tinto PLC has a 1 year low of $51.67 and a 1 year high of $73.76. The firm’s fifty day simple moving average is $65.57 and its 200 day simple moving average is $61.93. The company has a quick ratio of 1.03, a current ratio of 1.53 and a debt-to-equity ratio of 0.37.

Rio Tinto Profile

Rio Tinto Group engages in exploring, mining, and processing mineral resources worldwide. The company operates through Iron Ore, Aluminium, Copper, and Minerals Segments. The Iron Ore segment engages in the iron ore mining, and salt and gypsum production in Western Australia. The Aluminum segment is involved in bauxite mining; alumina refining; and aluminium smelting.