Transmarket Holdings LP Has $1.99 Million Holdings in Rio Tinto PLC $RIO

Transmarket Holdings LP cut its holdings in shares of Rio Tinto PLC (NYSE:RIOFree Report) by 51.3% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 21,332 shares of the mining company’s stock after selling 22,471 shares during the period. Rio Tinto comprises approximately 1.1% of Transmarket Holdings LP’s holdings, making the stock its 18th largest holding. Transmarket Holdings LP’s holdings in Rio Tinto were worth $1,990,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. AdvisorNet Financial Inc grew its holdings in shares of Rio Tinto by 160.2% during the first quarter. AdvisorNet Financial Inc now owns 294 shares of the mining company’s stock worth $27,000 after purchasing an additional 181 shares during the last quarter. PFS Partners LLC bought a new position in shares of Rio Tinto in the fourth quarter valued at about $28,000. Nvest Wealth Strategies Inc. acquired a new position in Rio Tinto during the 4th quarter worth about $28,000. V Square Quantitative Management LLC acquired a new position in Rio Tinto during the 1st quarter worth about $35,000. Finally, Costello Asset Management INC bought a new stake in Rio Tinto during the 1st quarter worth about $37,000. 19.33% of the stock is owned by institutional investors and hedge funds.

Rio Tinto Price Performance

Shares of RIO stock opened at $90.54 on Wednesday. The stock has a 50-day moving average price of $99.44 and a 200 day moving average price of $95.64. The company has a current ratio of 1.44, a quick ratio of 0.98 and a debt-to-equity ratio of 0.33. Rio Tinto PLC has a 12 month low of $58.40 and a 12 month high of $112.58.

Analyst Upgrades and Downgrades

Several research firms have weighed in on RIO. Weiss Ratings restated a “buy (b-)” rating on shares of Rio Tinto in a research report on Wednesday, May 20th. DZ Bank upgraded shares of Rio Tinto from a “hold” rating to a “strong-buy” rating in a research report on Friday, May 29th. Royal Bank Of Canada cut shares of Rio Tinto from a “sector perform” rating to an “underperform” rating in a research note on Wednesday, June 3rd. Sanford C. Bernstein raised their price target on shares of Rio Tinto from $82.00 to $83.50 and gave the company an “outperform” rating in a report on Monday, April 27th. Finally, Bank of America cut shares of Rio Tinto from a “buy” rating to a “neutral” rating in a research report on Friday, May 22nd. 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 given a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $101.75.

Read Our Latest Research Report on Rio Tinto

Rio Tinto Company Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Rio Tinto (NYSE:RIO)

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