Rio Tinto PLC $RIO Shares Acquired by Crescent Grove Advisors LLC

Key Points

• Crescent Grove Advisors LLC boosted its Rio Tinto stake by 316.7% in the first quarter, buying 18,139 additional shares and bringing its total to 23,866 shares worth about $2.26 million.
• Rio Tinto’s recent operating updates were strong, including record iron ore shipments and an 18% sequential increase in Q2 Pilbara shipments, with first-half output at its highest level since 2018.
• The company also cut 2026 copper cost guidance thanks to productivity gains, but analyst sentiment is mixed after several downgrades, leaving the stock with a consensus Hold rating.

Crescent Grove Advisors LLC grew its position in shares of Rio Tinto PLC (NYSE:RIO - Free Report) by 316.7% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,866 shares of the mining company's stock after purchasing an additional 18,139 shares during the quarter. Crescent Grove Advisors LLC's holdings in Rio Tinto were worth $2,263,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the company. AdvisorNet Financial Inc increased its holdings in Rio Tinto by 160.2% in the first quarter. AdvisorNet Financial Inc now owns 294 shares of the mining company's stock valued at $27,000 after buying an additional 181 shares in the last quarter. PFS Partners LLC purchased a new stake in shares of Rio Tinto during the 4th quarter worth about $28,000. Nvest Wealth Strategies Inc. purchased a new stake in shares of Rio Tinto during the 4th quarter worth about $28,000. V Square Quantitative Management LLC purchased a new stake in shares of Rio Tinto during the 1st quarter worth about $35,000. Finally, Costello Asset Management INC acquired a new stake in shares of Rio Tinto during the 1st quarter valued at about $37,000. 19.33% of the stock is currently owned by institutional investors and hedge funds.

Key Headlines Impacting Rio Tinto

Here are the key news stories impacting Rio Tinto this week:

• Positive Sentiment: Rio Tinto reported record iron ore shipments, with Pilbara operations delivering an 18% sequential increase in Q2 shipments and first-half output reaching its highest level since 2018. That kind of production strength is usually supportive for earnings and sentiment. Rio Tinto LSE: RIO Delivers Record Iron Ore Shipments And Cuts 2026 Copper Costs
• Positive Sentiment: The company also lowered 2026 copper cost guidance after productivity improvements, which may boost margins if those efficiencies hold. Rio said strong performance at Oyu Tolgoi helped offset a temporary Kennecott shutdown. Rio Tinto LSE: RIO Delivers Record Iron Ore Shipments And Cuts 2026 Copper Costs
• Neutral Sentiment: Rio Tinto is being mentioned as a potential buyer of a stake in First Quantum’s Argentina Taca Taca project, but this is only a preliminary M&A possibility and not yet a confirmed transaction. First Quantum considers sale of stake in Argentina’s Taca Taca project
• Neutral Sentiment: Analyst commentary remains mixed, with some coverage calling Rio Tinto’s second quarter solid but suggesting limited upside from here, which may temper enthusiasm despite the operational beat. Rio Tinto: Solid Q2, But Limited Upside Supports A Neutral View
• Negative Sentiment: Bradda Head Lithium raised capital to fund drilling tied to its Rio Tinto joint venture, which is a reminder that Rio-linked project activity continues but does not directly add near-term value to Rio Tinto shares. Bradda Head raises £2.12 million to fund Rio Tinto joint venture drilling

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the company. Morgan Stanley lowered Rio Tinto from an "equal weight" rating to an "underweight" rating in a research note on Wednesday, July 8th. Weiss Ratings reiterated a "buy (b-)" rating on shares of Rio Tinto in a research report on Wednesday, May 20th. Bank of America lowered Rio Tinto from a "buy" rating to a "neutral" rating in a report on Friday, May 22nd. Argus set a $120.00 price objective on Rio Tinto in a research report on Monday, April 27th. Finally, Royal Bank Of Canada downgraded Rio Tinto from a "sector perform" rating to an "underperform" rating in a research note on Wednesday, June 3rd. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, seven have issued a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $101.75.

Rio Tinto Stock Performance

Shares of NYSE RIO opened at $90.17 on Friday. The company's 50-day simple moving average is $100.20 and its 200-day simple moving average is $95.40. 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 52-week low of $58.40 and a 52-week high of $112.58.

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.

Want to see what other hedge funds are holding RIO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Rio Tinto PLC (NYSE:RIO - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.