World Investment Advisors Decreases Stock Position in Rio Tinto PLC $RIO

World Investment Advisors cut its position in Rio Tinto PLC (NYSE:RIO) by 12.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,444 shares of the mining company’s stock after selling 1,080 shares during the period. World Investment Advisors’ holdings in Rio Tinto were worth $434,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently added to or reduced their stakes in the company. Wayfinding Financial LLC acquired a new stake in Rio Tinto during the 1st quarter worth $30,000. Pandora Wealth Inc. purchased a new position in shares of Rio Tinto in the first quarter worth about $30,000. Hilltop National Bank purchased a new position in shares of Rio Tinto in the second quarter worth about $44,000. Resources Management Corp CT ADV acquired a new position in Rio Tinto during the first quarter worth about $48,000. Finally, Cary Street Partners Investment Advisory LLC grew its stake in Rio Tinto by 65.1% during the 1st quarter. Cary Street Partners Investment Advisory LLC now owns 852 shares of the mining company’s stock valued at $51,000 after acquiring an additional 336 shares in the last quarter. 19.33% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Rio Tinto Stock Performance

RIO stock opened at $70.43 on Tuesday. The business’s fifty day moving average price is $65.92 and its 200 day moving average price is $62.19. Rio Tinto PLC has a 12-month low of $51.67 and a 12-month high of $73.76. The company has a current ratio of 1.53, a quick ratio of 1.03 and a debt-to-equity ratio of 0.37.

About Rio Tinto

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.