Saturna Capital Corp Decreases Stock Holdings in Rio Tinto PLC (NYSE:RIO)

Saturna Capital Corp lessened its holdings in shares of Rio Tinto PLC (NYSE:RIO - Free Report) by 7.2% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 76,915 shares of the mining company's stock after selling 6,000 shares during the quarter. Saturna Capital Corp's holdings in Rio Tinto were worth $4,621,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Capital Analysts LLC raised its stake in Rio Tinto by 6.0% in the fourth quarter. Capital Analysts LLC now owns 2,886 shares of the mining company's stock valued at $170,000 after purchasing an additional 163 shares in the last quarter. Nemes Rush Group LLC grew its position in Rio Tinto by 10.0% during the fourth quarter. Nemes Rush Group LLC now owns 1,855 shares of the mining company's stock valued at $109,000 after acquiring an additional 169 shares during the last quarter. Aspen Wealth Strategies LLC grew its holdings in shares of Rio Tinto by 3.7% in the first quarter. Aspen Wealth Strategies LLC now owns 4,810 shares of the mining company's stock worth $289,000 after purchasing an additional 172 shares during the last quarter. Walker Asset Management LLC grew its holdings in shares of Rio Tinto by 4.8% in the first quarter. Walker Asset Management LLC now owns 4,326 shares of the mining company's stock worth $260,000 after purchasing an additional 200 shares during the last quarter. Finally, Quintet Private Bank Europe S.A. grew its holdings in shares of Rio Tinto by 10.0% in the first quarter. Quintet Private Bank Europe S.A. now owns 2,200 shares of the mining company's stock worth $132,000 after purchasing an additional 200 shares during the last quarter. Institutional investors own 19.33% of the company's stock.

Rio Tinto Price Performance

Shares of RIO traded up $1.46 during trading hours on Monday, hitting $62.00. The company had a trading volume of 3,248,826 shares, compared to its average volume of 3,114,964. The firm has a fifty day moving average price of $59.50 and a 200-day moving average price of $60.10. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.63 and a quick ratio of 1.13. Rio Tinto PLC has a 52-week low of $51.67 and a 52-week high of $72.08.

Wall Street Analyst Weigh In

Several analysts recently weighed in on RIO shares. Barclays reiterated an "overweight" rating on shares of Rio Tinto in a report on Wednesday, July 2nd. Morgan Stanley reissued an "overweight" rating on shares of Rio Tinto in a research report on Monday, July 14th. Jefferies Financial Group reissued a "hold" rating on shares of Rio Tinto in a research report on Tuesday, June 3rd. DZ Bank raised Rio Tinto from a "hold" rating to a "strong-buy" rating in a research report on Thursday, March 27th. Finally, Wall Street Zen lowered Rio Tinto from a "strong-buy" rating to a "buy" rating in a research report on Monday, April 28th. Four 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, the stock has a consensus rating of "Moderate Buy" and an average price target of $73.00.

About Rio Tinto

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.