Allspring Global Investments Holdings LLC Has $9.62 Million Position in Rio Tinto PLC $RIO

Allspring Global Investments Holdings LLC lessened its holdings in Rio Tinto PLC (NYSE:RIO) by 7.1% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 101,512 shares of the mining company’s stock after selling 7,765 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Rio Tinto were worth $9,624,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in RIO. Shrier Wealth Management LLC bought a new stake in Rio Tinto in the 4th quarter valued at $1,280,000. QSM Asset Management Ltd increased its position in Rio Tinto by 32.1% during the 4th quarter. QSM Asset Management Ltd now owns 230,700 shares of the mining company’s stock worth $18,463,000 after buying an additional 56,000 shares during the period. D.A. Davidson & CO. increased its position in Rio Tinto by 16.7% during the 4th quarter. D.A. Davidson & CO. now owns 124,182 shares of the mining company’s stock worth $9,938,000 after buying an additional 17,786 shares during the period. Oak Harvest Investment Services acquired a new stake in shares of Rio Tinto during the fourth quarter worth $15,210,000. Finally, Vanguard Capital Wealth Advisors acquired a new stake in shares of Rio Tinto during the fourth quarter worth $955,000. Institutional investors and hedge funds own 19.33% of the company’s stock.

More Rio Tinto News

Here are the key news stories impacting Rio Tinto this week:

• Positive Sentiment: Rio Tinto reached a commercial agreement with Cymat Technologies to transfer customers from Rio Tinto Alcan’s aluminum metal matrix composites business, a move that monetizes a non-core business and formalizes a previously announced deal. Cymat reaches official commercial agreement with Rio Tinto to take over aluminium composites business
• Positive Sentiment: Rio Tinto signed a bio-pellet supply deal with SCL for its Queensland refineries, with deliveries targeted to begin in 2028, supporting longer-term decarbonization efforts and potentially lowering refinery emissions. Rio Tinto signs bio pellet supply deal with SCL for refineries in Queensland
• Positive Sentiment: Rio Tinto also signed a five-year bio-pellet agreement with SuperChar to cut emissions at its Gladstone alumina refineries, reinforcing its push to reduce operating emissions and improve environmental positioning. Rio Tinto signs five-year bio pellet deal with SuperChar to cut alumina refinery emissions
• Neutral Sentiment: Rio Tinto announced another supply agreement for bio pellets for its Gladstone alumina refineries, adding to the company’s emissions-cutting initiatives but not creating an immediate earnings catalyst. Rio Tinto signs bio pellet supply agreement for Gladstone alumina refineries
• Neutral Sentiment: Chinese media reported deliveries of large mining equipment to Rio Tinto, which highlights ongoing operations and capex-related activity, but appears more operational than stock-moving. CSSC delivers record-breaking self-discharger to mining giant Rio Tinto
• Negative Sentiment: A new sell rating on Rio Tinto could weigh on sentiment, as analyst downgrades may reinforce concerns about valuation or near-term upside. New Sell Rating for Rio Tinto (RIO), the Basic Materials Giant

Rio Tinto Trading Up 2.0%

Shares of NYSE RIO opened at $92.39 on Thursday. The stock’s fifty day moving average is $99.05 and its 200 day moving average is $95.73. Rio Tinto PLC has a 52 week low of $58.40 and a 52 week high of $112.58. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.98 and a current ratio of 1.44.

Analyst Ratings Changes

RIO has been the topic of several research reports. Royal Bank Of Canada downgraded shares of Rio Tinto from a “sector perform” rating to an “underperform” rating in a research note on Wednesday, June 3rd. Bank of America downgraded shares of Rio Tinto from a “buy” rating to a “neutral” rating in a report on Friday, May 22nd. Weiss Ratings restated a “buy (b-)” rating on shares of Rio Tinto in a research report on Wednesday, May 20th. Citigroup reaffirmed a “neutral” rating on shares of Rio Tinto in a report on Thursday, July 9th. Finally, Morgan Stanley downgraded shares of Rio Tinto from an “equal weight” rating to an “underweight” rating in a research report on Wednesday, July 8th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, seven have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $101.75.

Rio Tinto 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.