Wealth Quarterback LLC Acquires Shares of 4,514 Rio Tinto PLC $RIO

Wealth Quarterback LLC acquired a new stake in Rio Tinto PLC (NYSE:RIO) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 4,514 shares of the mining company’s stock, valued at approximately $263,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Pandora Wealth Inc. purchased a new stake in Rio Tinto in the first quarter valued at $30,000. Hilltop National Bank purchased a new position in shares of Rio Tinto during the 2nd quarter valued at about $44,000. Resources Management Corp CT ADV acquired a new position in shares of Rio Tinto in the 1st quarter valued at about $48,000. Cary Street Partners Investment Advisory LLC boosted its stake in shares of Rio Tinto by 65.1% in the first quarter. Cary Street Partners Investment Advisory LLC now owns 852 shares of the mining company’s stock worth $51,000 after buying an additional 336 shares during the last quarter. Finally, Grove Bank & Trust boosted its stake in shares of Rio Tinto by 24.5% in the second quarter. Grove Bank & Trust now owns 1,139 shares of the mining company’s stock worth $66,000 after buying an additional 224 shares during the last quarter. Institutional investors and hedge funds own 19.33% of the company’s stock.

Rio Tinto Trading Up 0.1%

Shares of Rio Tinto stock opened at $70.37 on Wednesday. The business has a 50 day simple moving average of $66.76 and a two-hundred day simple moving average of $62.60. Rio Tinto PLC has a 12 month low of $51.67 and a 12 month high of $73.76. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.53 and a quick ratio of 1.03.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on RIO. Weiss Ratings reissued a “hold (c)” rating on shares of Rio Tinto in a report on Wednesday, October 8th. Morgan Stanley restated an “overweight” rating on shares of Rio Tinto in a research report on Wednesday, October 8th. Zacks Research upgraded Rio Tinto from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 6th. Finally, Deutsche Bank Aktiengesellschaft downgraded Rio Tinto from a “buy” rating to a “hold” rating in a research note on Wednesday, July 30th. Three research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, Rio Tinto currently has an average rating of “Moderate Buy” and a consensus target price of $73.00.

Rio Tinto 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.