Allworth Financial LP Increases Stock Position in Rio Tinto PLC $RIO

Allworth Financial LP increased its position in shares of Rio Tinto PLC (NYSE:RIO) by 39.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,723 shares of the mining company’s stock after purchasing an additional 775 shares during the quarter. Allworth Financial LP’s holdings in Rio Tinto were worth $159,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Amundi increased its position in shares of Rio Tinto by 224.0% during the 1st quarter. Amundi now owns 230,891 shares of the mining company’s stock valued at $13,491,000 after purchasing an additional 159,636 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in shares of Rio Tinto in the 1st quarter worth about $357,000. Assetmark Inc. grew its position in Rio Tinto by 8.1% during the second quarter. Assetmark Inc. now owns 70,330 shares of the mining company’s stock valued at $4,102,000 after buying an additional 5,259 shares during the period. Acadian Asset Management LLC grew its position in Rio Tinto by 37.9% during the first quarter. Acadian Asset Management LLC now owns 57,595 shares of the mining company’s stock valued at $3,458,000 after buying an additional 15,839 shares during the period. Finally, Soltis Investment Advisors LLC increased its holdings in Rio Tinto by 6.3% during the second quarter. Soltis Investment Advisors LLC now owns 140,546 shares of the mining company’s stock worth $8,198,000 after buying an additional 8,314 shares during the last quarter. Hedge funds and other institutional investors own 19.33% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. Citigroup reaffirmed a “neutral” rating on shares of Rio Tinto in a report on Monday. Zacks Research raised Rio Tinto from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 6th. Deutsche Bank Aktiengesellschaft lowered Rio Tinto from a “buy” rating to a “hold” rating in a research note on Wednesday, July 30th. Weiss Ratings reiterated a “hold (c)” rating on shares of Rio Tinto in a research note on Wednesday, October 8th. 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 five have given a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $73.00.

Rio Tinto Price Performance

Shares of Rio Tinto stock opened at $69.72 on Wednesday. The company has a current ratio of 1.53, a quick ratio of 1.03 and a debt-to-equity ratio of 0.37. Rio Tinto PLC has a 1 year low of $51.67 and a 1 year high of $73.76. The company has a 50 day simple moving average of $67.53 and a two-hundred day simple moving average of $62.98.

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.