Cullen Capital Management LLC Sells 43,821 Shares of Rio Tinto PLC $RIO

Cullen Capital Management LLC cut its holdings in Rio Tinto PLC (NYSE:RIO) by 4.7% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 882,679 shares of the mining company’s stock after selling 43,821 shares during the quarter. Cullen Capital Management LLC owned approximately 0.07% of Rio Tinto worth $51,487,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in RIO. Atria Wealth Solutions Inc. lifted its position in shares of Rio Tinto by 6.8% in the 1st quarter. Atria Wealth Solutions Inc. now owns 3,784 shares of the mining company’s stock worth $229,000 after purchasing an additional 241 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in Rio Tinto by 22.9% during the first quarter. Charles Schwab Investment Management Inc. now owns 100,669 shares of the mining company’s stock worth $6,048,000 after buying an additional 18,781 shares during the period. Townsquare Capital LLC boosted its position in Rio Tinto by 3.6% during the 1st quarter. Townsquare Capital LLC now owns 8,490 shares of the mining company’s stock valued at $510,000 after acquiring an additional 293 shares in the last quarter. Russell Investments Group Ltd. increased its holdings in shares of Rio Tinto by 8.9% in the 1st quarter. Russell Investments Group Ltd. now owns 49,226 shares of the mining company’s stock valued at $2,958,000 after acquiring an additional 4,024 shares during the period. Finally, Dimensional Fund Advisors LP raised its position in shares of Rio Tinto by 33.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,938,247 shares of the mining company’s stock worth $116,510,000 after acquiring an additional 490,357 shares in the last quarter. Hedge funds and other institutional investors own 19.33% of the company’s stock.

Rio Tinto Price Performance

RIO stock opened at $75.57 on Monday. Rio Tinto PLC has a 52 week low of $51.67 and a 52 week high of $76.99. The company has a current ratio of 1.53, a quick ratio of 1.03 and a debt-to-equity ratio of 0.37. The firm has a 50 day moving average of $70.61 and a 200 day moving average of $64.43.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on RIO. Royal Bank Of Canada reaffirmed a “sector perform” rating on shares of Rio Tinto in a research report on Monday, December 1st. Argus raised their price target on shares of Rio Tinto from $70.00 to $85.00 and gave the company a “buy” rating in a report on Thursday. Morgan Stanley reaffirmed an “overweight” rating on shares of Rio Tinto in a research report on Wednesday, October 8th. Zacks Research lowered shares of Rio Tinto from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 19th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Rio Tinto in a research note on Monday, December 8th. Two research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $79.00.

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.