Rhumbline Advisers Has $969,000 Stake in Rio Tinto PLC (NYSE:RIO)

Rhumbline Advisers lowered its position in Rio Tinto PLC (NYSE:RIO - Free Report) by 35.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 16,123 shares of the mining company's stock after selling 8,670 shares during the period. Rhumbline Advisers' holdings in Rio Tinto were worth $969,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Empowered Funds LLC raised its holdings in shares of Rio Tinto by 39.9% in the fourth quarter. Empowered Funds LLC now owns 4,992 shares of the mining company's stock valued at $294,000 after purchasing an additional 1,425 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its stake in shares of Rio Tinto by 118.4% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 99,853 shares of the mining company's stock valued at $5,868,000 after buying an additional 54,130 shares in the last quarter. Vontobel Holding Ltd. raised its stake in shares of Rio Tinto by 3.4% during the 4th quarter. Vontobel Holding Ltd. now owns 9,212 shares of the mining company's stock valued at $542,000 after purchasing an additional 302 shares during the period. Principal Securities Inc. lifted its stake in Rio Tinto by 19.8% in the 4th quarter. Principal Securities Inc. now owns 3,011 shares of the mining company's stock worth $177,000 after purchasing an additional 497 shares in the last quarter. Finally, Allworth Financial LP boosted its stake in Rio Tinto by 47.6% during the fourth quarter. Allworth Financial LP now owns 1,792 shares of the mining company's stock valued at $110,000 after buying an additional 578 shares during the period. Institutional investors own 19.33% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on RIO shares. Clarkson Capital raised shares of Rio Tinto to a "strong-buy" rating in a report on Friday, February 28th. JPMorgan Chase & Co. began coverage on Rio Tinto in a report on Tuesday, March 18th. They set an "overweight" rating on the stock. Jefferies Financial Group restated a "hold" rating on shares of Rio Tinto in a research report on Tuesday, June 3rd. Morgan Stanley cut shares of Rio Tinto from an "overweight" rating to an "equal weight" rating in a report on Wednesday, April 9th. Finally, Barclays reaffirmed an "overweight" rating on shares of Rio Tinto in a report on Wednesday, April 16th. Four research analysts have rated the stock with a hold rating, five have issued a buy rating and three have given a strong buy rating to the company's stock. According to data from MarketBeat, Rio Tinto has a consensus rating of "Moderate Buy" and a consensus target price of $73.00.

Rio Tinto Price Performance

NYSE:RIO opened at $56.92 on Friday. The firm has a market cap of $71.38 billion, a price-to-earnings ratio of 8.83 and a beta of 0.68. Rio Tinto PLC has a 1-year low of $51.67 and a 1-year high of $72.08. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.63 and a quick ratio of 1.13. The company has a 50 day moving average price of $59.68 and a 200-day moving average price of $60.44.

Rio Tinto Company 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.

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