Rio Tinto PLC $RIO Shares Purchased by Atria Investments Inc

Atria Investments Inc raised its holdings in Rio Tinto PLC (NYSE:RIO) by 131.8% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 45,688 shares of the mining company’s stock after purchasing an additional 25,979 shares during the period. Atria Investments Inc’s holdings in Rio Tinto were worth $3,016,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the stock. Salomon & Ludwin LLC lifted its position in shares of Rio Tinto by 62.2% during the third quarter. Salomon & Ludwin LLC now owns 472 shares of the mining company’s stock worth $31,000 after purchasing an additional 181 shares during the last quarter. Root Financial Partners LLC acquired a new position in shares of Rio Tinto during the third quarter valued at $36,000. Pinpoint Asset Management Singapore Pte. Ltd. bought a new position in Rio Tinto in the 2nd quarter worth about $38,000. MTM Investment Management LLC acquired a new stake in shares of Rio Tinto in the second quarter valued at approximately $43,000. Finally, Wealth Preservation Advisors LLC bought a new stake in shares of Rio Tinto during the second quarter valued at approximately $53,000. 19.33% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

RIO has been the topic of several analyst reports. Zacks Research upgraded Rio Tinto from a “hold” rating to a “strong-buy” rating in a research report on Monday, December 29th. Weiss Ratings reissued a “hold (c+)” rating on shares of Rio Tinto in a research note on Monday, December 29th. Citigroup upgraded shares of Rio Tinto to a “hold” rating in a research note on Tuesday, February 10th. Morgan Stanley downgraded shares of Rio Tinto from an “overweight” rating to an “equal weight” rating in a report on Wednesday, January 28th. Finally, Argus raised 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. Three investment analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $85.00.

Rio Tinto Price Performance

Shares of Rio Tinto stock opened at $98.03 on Monday. Rio Tinto PLC has a 52 week low of $51.67 and a 52 week high of $100.33. 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 company’s 50-day moving average price is $85.41 and its two-hundred day moving average price is $73.02.

About Rio Tinto

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.