Corient Private Wealth LLC Sells 9,967 Shares of Rio Tinto PLC $RIO

Corient Private Wealth LLC reduced its stake in Rio Tinto PLC (NYSE:RIO) by 23.3% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 32,749 shares of the mining company’s stock after selling 9,967 shares during the period. Corient Private Wealth LLC’s holdings in Rio Tinto were worth $1,910,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of RIO. Texas Permanent School Fund Corp grew its position in Rio Tinto by 3.5% during the 2nd quarter. Texas Permanent School Fund Corp now owns 25,963 shares of the mining company’s stock valued at $1,514,000 after purchasing an additional 887 shares during the last quarter. Osaic Holdings Inc. lifted its stake in shares of Rio Tinto by 54.0% in the second quarter. Osaic Holdings Inc. now owns 253,358 shares of the mining company’s stock worth $14,791,000 after buying an additional 88,829 shares in the last quarter. Thrivent Financial for Lutherans grew its holdings in shares of Rio Tinto by 125.4% during the second quarter. Thrivent Financial for Lutherans now owns 34,580 shares of the mining company’s stock valued at $2,024,000 after buying an additional 19,241 shares during the last quarter. TT Capital Management LLC increased its position in shares of Rio Tinto by 2,138.6% during the second quarter. TT Capital Management LLC now owns 76,517 shares of the mining company’s stock valued at $4,516,000 after acquiring an additional 73,099 shares in the last quarter. Finally, Advisory Services Network LLC increased its position in shares of Rio Tinto by 245.4% during the second quarter. Advisory Services Network LLC now owns 35,251 shares of the mining company’s stock valued at $2,107,000 after acquiring an additional 25,046 shares in the last quarter. Hedge funds and other institutional investors own 19.33% of the company’s stock.

Analyst Ratings Changes

Several analysts have commented on RIO shares. Morgan Stanley reiterated an “overweight” rating on shares of Rio Tinto in a research note on Tuesday, December 16th. Zacks Research downgraded Rio Tinto from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 19th. Citigroup reiterated a “hold” rating on shares of Rio Tinto in a report on Monday, November 17th. Argus upped their target price on shares of Rio Tinto from $70.00 to $85.00 and gave the company a “buy” rating in a research note on Thursday, December 11th. Finally, Royal Bank Of Canada reaffirmed a “sector perform” rating on shares of Rio Tinto in a report on Monday, December 1st. Two analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and seven have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $79.00.

Rio Tinto Trading Up 1.0%

NYSE RIO opened at $80.90 on Wednesday. The company has a 50-day moving average price of $72.14 and a 200-day moving average price of $65.35. Rio Tinto PLC has a 52 week low of $51.67 and a 52 week high of $81.17. 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 Company Profile

Rio Tinto is a global mining and metals company that explores for, mines, processes and markets a wide range of commodities. Its principal products include iron ore, aluminum, copper, diamonds and various other minerals and industrial materials. The company’s activities span the full value chain from exploration and project development to mining, processing, smelting and refining, supplying raw materials to industries such as steelmaking, automotive, packaging, electronics and construction.

The origins of Rio Tinto date back to mining operations in the Rio Tinto region of Spain in the 19th century, and the group has since grown into a multinational enterprise.