Modera Wealth Management LLC Sells 2,653 Shares of Rio Tinto PLC $RIO

Modera Wealth Management LLC reduced its stake in Rio Tinto PLC (NYSE:RIO) by 4.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 61,732 shares of the mining company’s stock after selling 2,653 shares during the period. Modera Wealth Management LLC’s holdings in Rio Tinto were worth $3,601,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Pandora Wealth Inc. purchased a new position in Rio Tinto in the 1st quarter worth approximately $30,000. Hilltop National Bank purchased a new position in Rio Tinto in the second quarter worth about $44,000. Resources Management Corp CT ADV bought a new stake in Rio Tinto during the first quarter valued at approximately $48,000. Cary Street Partners Investment Advisory LLC increased its holdings in Rio Tinto by 65.1% during the first quarter. Cary Street Partners Investment Advisory LLC now owns 852 shares of the mining company’s stock valued at $51,000 after buying an additional 336 shares during the last quarter. Finally, Grove Bank & Trust raised its holdings in Rio Tinto by 24.5% in the 2nd quarter. Grove Bank & Trust now owns 1,139 shares of the mining company’s stock worth $66,000 after purchasing an additional 224 shares during the period. 19.33% of the stock is owned by hedge funds and other institutional investors.

Rio Tinto Stock Performance

RIO stock opened at $69.36 on Friday. Rio Tinto PLC has a 12 month low of $51.67 and a 12 month high of $73.76. The firm’s 50-day moving average is $66.44 and its 200 day moving average is $62.43. The company has a quick ratio of 1.03, a current ratio of 1.53 and a debt-to-equity ratio of 0.37.

Analyst Ratings Changes

A number of equities research analysts have commented on RIO shares. Weiss Ratings restated a “hold (c)” rating on shares of Rio Tinto in a research note on Wednesday, October 8th. Zacks Research raised Rio Tinto from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 6th. Morgan Stanley reissued an “overweight” rating on shares of Rio Tinto in a research note on Wednesday, October 8th. Finally, Deutsche Bank Aktiengesellschaft cut Rio Tinto from a “buy” rating to a “hold” rating in a research note on Wednesday, July 30th. Three investment analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price 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.