Ritholtz Wealth Management Has $3.54 Million Stake in Rio Tinto PLC (NYSE:RIO)

Ritholtz Wealth Management lowered its stake in shares of Rio Tinto PLC (NYSE:RIO - Free Report) by 21.6% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 58,918 shares of the mining company's stock after selling 16,214 shares during the period. Ritholtz Wealth Management's holdings in Rio Tinto were worth $3,540,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the company. Fisher Asset Management LLC raised its stake in shares of Rio Tinto by 0.4% in the 4th quarter. Fisher Asset Management LLC now owns 17,604,463 shares of the mining company's stock valued at $1,035,319,000 after purchasing an additional 76,368 shares during the period. Franklin Resources Inc. boosted its stake in shares of Rio Tinto by 1.4% during the 4th quarter. Franklin Resources Inc. now owns 5,115,476 shares of the mining company's stock worth $300,841,000 after buying an additional 70,131 shares during the last quarter. FMR LLC grew its holdings in shares of Rio Tinto by 24.6% in the 4th quarter. FMR LLC now owns 1,721,690 shares of the mining company's stock valued at $101,253,000 after acquiring an additional 339,924 shares in the last quarter. Northern Trust Corp increased its position in shares of Rio Tinto by 18.9% in the fourth quarter. Northern Trust Corp now owns 1,603,037 shares of the mining company's stock valued at $94,275,000 after acquiring an additional 255,151 shares during the last quarter. Finally, Deutsche Bank AG boosted its position in Rio Tinto by 143,872.8% during the fourth quarter. Deutsche Bank AG now owns 1,264,081 shares of the mining company's stock valued at $74,341,000 after purchasing an additional 1,263,203 shares during the last quarter. Institutional investors and hedge funds own 19.33% of the company's stock.

Rio Tinto Stock Performance

Shares of NYSE:RIO traded down $0.09 during trading on Thursday, reaching $56.92. 2,143,788 shares of the stock were exchanged, compared to its average volume of 2,949,328. Rio Tinto PLC has a 12 month low of $51.67 and a 12 month high of $72.08. The stock has a 50-day moving average price of $59.64 and a 200-day moving average price of $60.48. 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 cap of $71.38 billion, a PE ratio of 8.83 and a beta of 0.68.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on RIO. Barclays reaffirmed an "overweight" rating on shares of Rio Tinto in a research report on Wednesday, April 16th. JPMorgan Chase & Co. assumed coverage on shares of Rio Tinto in a research note on Tuesday, March 18th. They set an "overweight" rating on the stock. Clarkson Capital upgraded shares of Rio Tinto to a "strong-buy" rating in a research note on Friday, February 28th. Morgan Stanley cut Rio Tinto from an "overweight" rating to an "equal weight" rating in a report on Wednesday, April 9th. Finally, Jefferies Financial Group restated a "hold" rating on shares of Rio Tinto in a research note on Tuesday, June 3rd. Four equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Rio Tinto presently has a consensus rating of "Moderate Buy" and an average price target of $73.00.

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.