Bessemer Group Inc. Cuts Stake in Rio Tinto PLC $RIO

Bessemer Group Inc. lowered its holdings in shares of Rio Tinto PLC (NYSE:RIO) by 35.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,350 shares of the mining company’s stock after selling 1,845 shares during the quarter. Bessemer Group Inc.’s holdings in Rio Tinto were worth $195,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in RIO. Mutual Advisors LLC lifted its stake in shares of Rio Tinto by 21.4% in the 1st quarter. Mutual Advisors LLC now owns 7,670 shares of the mining company’s stock valued at $464,000 after purchasing an additional 1,354 shares during the last quarter. Wayfinding Financial LLC bought a new stake in shares of Rio Tinto in the 1st quarter valued at approximately $30,000. World Investment Advisors lifted its stake in shares of Rio Tinto by 14.4% in the 1st quarter. World Investment Advisors now owns 8,524 shares of the mining company’s stock valued at $513,000 after purchasing an additional 1,074 shares during the last quarter. Concurrent Investment Advisors LLC lifted its stake in shares of Rio Tinto by 12.0% in the 1st quarter. Concurrent Investment Advisors LLC now owns 4,297 shares of the mining company’s stock valued at $258,000 after purchasing an additional 459 shares during the last quarter. Finally, Capital Advisors Inc. OK lifted its stake in shares of Rio Tinto by 3.7% in the 1st quarter. Capital Advisors Inc. OK now owns 425,301 shares of the mining company’s stock valued at $25,552,000 after purchasing an additional 15,264 shares during the last quarter. Hedge funds and other institutional investors own 19.33% of the company’s stock.

Rio Tinto Stock Performance

Rio Tinto stock opened at $70.43 on Tuesday. The business has a fifty day moving average of $65.92 and a two-hundred day moving average of $62.19. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.03 and a current ratio of 1.53. Rio Tinto PLC has a twelve month low of $51.67 and a twelve month high of $73.76.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Rio Tinto in a research note on Wednesday, October 8th. Morgan Stanley reaffirmed an “overweight” rating on shares of Rio Tinto in a research note on Wednesday, October 8th. Zacks Research upgraded Rio Tinto from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 6th. Finally, Deutsche Bank Aktiengesellschaft lowered Rio Tinto from a “buy” rating to a “hold” rating in a research report on Wednesday, July 30th. Three investment analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, Rio Tinto presently has a consensus rating of “Moderate Buy” and an average price target of $73.00.

Rio Tinto Company 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.