ABC Arbitrage SA reduced its position in Rio Tinto PLC (NYSE:RIO – Free Report) by 14.3% during the 4th quarter, Holdings Channel.com reports. The firm owned 338,891 shares of the mining company’s stock after selling 56,530 shares during the period. Rio Tinto accounts for about 2.5% of ABC Arbitrage SA’s portfolio, making the stock its 11th biggest position. ABC Arbitrage SA’s holdings in Rio Tinto were worth $27,121,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors have also made changes to their positions in RIO. PFS Partners LLC purchased a new stake in shares of Rio Tinto during the 4th quarter valued at $28,000. Nvest Wealth Strategies Inc. purchased a new stake in Rio Tinto in the fourth quarter valued at about $28,000. Trust Co. of Toledo NA OH acquired a new stake in Rio Tinto in the fourth quarter worth about $34,000. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in Rio Tinto in the fourth quarter worth about $37,000. Finally, Baillie Gifford & Co. grew its stake in shares of Rio Tinto by 51.0% during the fourth quarter. Baillie Gifford & Co. now owns 524 shares of the mining company’s stock worth $42,000 after acquiring an additional 177 shares during the last quarter. 19.33% of the stock is owned by institutional investors and hedge funds.
Rio Tinto Price Performance
Shares of NYSE:RIO opened at $107.82 on Tuesday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.98 and a current ratio of 1.44. Rio Tinto PLC has a 52-week low of $55.64 and a 52-week high of $108.43. The business has a 50-day moving average price of $95.07 and a 200-day moving average price of $86.26.
Rio Tinto Announces Dividend
Trending Headlines about Rio Tinto
Here are the key news stories impacting Rio Tinto this week:
- Positive Sentiment: Rio Tinto signed a 30-year power purchase agreement with Yindjibarndi Energy for the Jinbi Solar Project in Australia, locking in long-term renewable electricity supply for its Pilbara operations and reinforcing its decarbonization strategy. Article Title
- Positive Sentiment: Yindjibarndi Energy said the Jinbi Solar Project has reached financial close and will move into construction, which adds credibility to the project and highlights Rio Tinto’s role in enabling new low-carbon power infrastructure. Article Title
- Positive Sentiment: Rio Tinto is reportedly in talks to increase its stake in the Los Azules copper project in Argentina, potentially strengthening its exposure to copper, a metal critical for electrification and AI/data-center demand. Article Title
- Neutral Sentiment: Rio Tinto extended its partnership with the Clontarf Foundation to support Indigenous education, a reputationally positive move but unlikely to materially affect near-term earnings. Article Title
- Negative Sentiment: Rio Tinto was accused of drying a sacred Aboriginal waterhole, a headline that could add ESG and community-relations overhang even if the financial impact is unclear. Article Title
Wall Street Analysts Forecast Growth
RIO has been the subject of several research analyst reports. Erste Group Bank raised shares of Rio Tinto from a “hold” rating to a “buy” rating in a research report on Friday, January 23rd. Zacks Research downgraded shares of Rio Tinto from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 7th. Morgan Stanley lowered shares of Rio Tinto from an “overweight” rating to an “equal weight” rating in a research note on Wednesday, January 28th. Citigroup reaffirmed a “neutral” rating on shares of Rio Tinto in a report on Monday, April 13th. Finally, Royal Bank Of Canada reissued a “sector perform” rating on shares of Rio Tinto in a report on Thursday, January 22nd. Four analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company. According to MarketBeat.com, Rio Tinto presently has a consensus rating of “Hold” and an average price target of $101.75.
Get Our Latest Stock Report on RIO
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.
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