Saturna Capital Corp Has $4.62 Million Holdings in Rio Tinto PLC (NYSE:RIO)

Saturna Capital Corp reduced its stake in shares of Rio Tinto PLC (NYSE:RIO - Free Report) by 7.2% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor 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 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Mechanics Financial Corp bought a new stake in shares of Rio Tinto during the 4th quarter worth $29,000. Alpine Bank Wealth Management bought a new stake in shares of Rio Tinto during the 1st quarter worth $30,000. Wayfinding Financial LLC bought a new stake in shares of Rio Tinto during the 1st quarter worth $30,000. Bfsg LLC lifted its position in shares of Rio Tinto by 5,754.5% during the 1st quarter. Bfsg LLC now owns 644 shares of the mining company's stock worth $39,000 after buying an additional 633 shares during the last quarter. Finally, Ameriflex Group Inc. bought a new stake in shares of Rio Tinto during the 4th quarter worth $47,000. 19.33% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

RIO has been the subject of several recent analyst reports. Jefferies Financial Group restated a "hold" rating on shares of Rio Tinto in a research report on Tuesday, June 3rd. DZ Bank upgraded Rio Tinto from a "hold" rating to a "strong-buy" rating in a research report on Thursday, March 27th. Barclays reiterated an "overweight" rating on shares of Rio Tinto in a research report on Wednesday, July 2nd. Berenberg Bank reiterated a "hold" rating on shares of Rio Tinto in a research report on Thursday, July 3rd. Finally, Wall Street Zen downgraded 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 given a buy rating and three have issued a strong buy rating to the company's stock. According to MarketBeat, Rio Tinto has an average rating of "Moderate Buy" and a consensus price target of $73.00.

Rio Tinto Trading Up 0.9%

Shares of RIO traded up $0.55 during mid-day trading on Friday, reaching $60.58. 2,858,708 shares of the company were exchanged, compared to its average volume of 3,111,195. Rio Tinto PLC has a 52 week low of $51.67 and a 52 week high of $72.08. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.13 and a current ratio of 1.63. The stock has a market capitalization of $75.97 billion, a PE ratio of 9.39 and a beta of 0.66. The business has a 50 day simple moving average of $59.49 and a two-hundred day simple moving average of $60.07.

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.