SG Trading Solutions LLC Acquires Shares of 5,476 Rio Tinto PLC $RIO

SG Trading Solutions LLC bought a new position in Rio Tinto PLC (NYSE:RIO – Free Report) in the fourth quarter, HoldingsChannel reports. The fund bought 5,476 shares of the mining company’s stock, valued at approximately $438,000.

A number of other institutional investors also recently modified their holdings of the stock. Arrowstreet Capital Limited Partnership grew its holdings in shares of Rio Tinto by 170.8% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 3,886,335 shares of the mining company’s stock valued at $311,023,000 after acquiring an additional 2,451,140 shares in the last quarter. Milford Funds Ltd. purchased a new stake in shares of Rio Tinto during the fourth quarter worth $93,143,000. Deutsche Bank AG raised its holdings in shares of Rio Tinto by 102.6% during the fourth quarter. Deutsche Bank AG now owns 2,216,935 shares of the mining company’s stock worth $177,421,000 after acquiring an additional 1,122,667 shares in the last quarter. Natixis Advisors LLC boosted its position in Rio Tinto by 144.7% during the fourth quarter. Natixis Advisors LLC now owns 1,587,387 shares of the mining company’s stock valued at $127,039,000 after purchasing an additional 938,687 shares during the last quarter. Finally, Bank of America Corp DE boosted its position in Rio Tinto by 31.9% during the third quarter. Bank of America Corp DE now owns 3,157,545 shares of the mining company’s stock valued at $208,430,000 after purchasing an additional 763,786 shares during the last quarter. Institutional investors and hedge funds own 19.33% of the company’s stock.

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Rio Tinto Stock Performance

Shares of Rio Tinto stock opened at $100.22 on Friday. The company has a quick ratio of 0.98, a current ratio of 1.44 and a debt-to-equity ratio of 0.33. The stock has a 50 day moving average price of $102.95 and a two-hundred day moving average price of $93.10. Rio Tinto PLC has a 12-month low of $55.64 and a 12-month high of $112.58.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Royal Bank Of Canada lowered Rio Tinto from a “sector perform” rating to an “underperform” rating in a research report on Wednesday, June 3rd. Citigroup reiterated a “neutral” rating on shares of Rio Tinto in a report on Tuesday, May 26th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating on shares of Rio Tinto in a research note on Friday, May 15th. Sanford C. Bernstein increased their price objective on Rio Tinto from $82.00 to $83.50 and gave the stock an “outperform” rating in a report on Monday, April 27th. Finally, DZ Bank upgraded shares of Rio Tinto from a “hold” rating to a “strong-buy” rating in a research note on Friday, May 29th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Rio Tinto presently has an average rating of “Hold” and an average target price of $101.75.

View Our Latest Analysis on Rio Tinto

About Rio Tinto

(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.

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