Insigneo Advisory Services LLC Trims Position in Rio Tinto PLC (NYSE:RIO)

Insigneo Advisory Services LLC trimmed its position in shares of Rio Tinto PLC (NYSE:RIO - Free Report) by 66.1% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,709 shares of the mining company's stock after selling 7,235 shares during the quarter. Insigneo Advisory Services LLC's holdings in Rio Tinto were worth $223,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. XTX Topco Ltd purchased a new stake in Rio Tinto in the 4th quarter valued at $1,241,000. Rossby Financial LCC purchased a new stake in Rio Tinto in the 4th quarter valued at $360,000. Farther Finance Advisors LLC raised its position in Rio Tinto by 24.2% in the 1st quarter. Farther Finance Advisors LLC now owns 4,023 shares of the mining company's stock valued at $242,000 after buying an additional 785 shares during the last quarter. Schroder Investment Management Group raised its position in Rio Tinto by 3.2% in the 4th quarter. Schroder Investment Management Group now owns 32,258 shares of the mining company's stock valued at $1,890,000 after buying an additional 1,009 shares during the last quarter. Finally, Norges Bank purchased a new stake in Rio Tinto in the 4th quarter valued at $432,000. 19.33% of the stock is owned by institutional investors and hedge funds.

Rio Tinto Stock Performance

Shares of RIO stock traded up $1.20 on Monday, hitting $57.09. 3,182,984 shares of the stock were exchanged, compared to its average volume of 2,966,208. The company has a current ratio of 1.63, a quick ratio of 1.13 and a debt-to-equity ratio of 0.23. The firm has a market capitalization of $71.59 billion, a PE ratio of 8.85 and a beta of 0.68. Rio Tinto PLC has a one year low of $51.67 and a one year high of $72.08. The firm's 50 day moving average is $59.66 and its two-hundred day moving average is $60.31.

Analyst Upgrades and Downgrades

A number of research firms recently commented on RIO. Barclays reissued an "overweight" rating on shares of Rio Tinto in a research report on Wednesday, April 16th. DZ Bank raised Rio Tinto from a "hold" rating to a "strong-buy" rating in a research report on Thursday, March 27th. Morgan Stanley lowered Rio Tinto from an "overweight" rating to an "equal weight" rating in a research report on Wednesday, April 9th. Clarkson Capital raised Rio Tinto to a "strong-buy" rating in a research report on Friday, February 28th. Finally, Jefferies Financial Group reaffirmed a "hold" rating on shares of Rio Tinto in a research report on Tuesday, June 3rd. Four research analysts have rated the stock with a hold rating, five have issued a buy rating and three have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target 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.