Rio Tinto PLC $RIO Shares Sold by Quadrant Capital Group LLC

Quadrant Capital Group LLC reduced its position in shares of Rio Tinto PLC (NYSE:RIO) by 31.7% in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 21,208 shares of the mining company’s stock after selling 9,863 shares during the quarter. Quadrant Capital Group LLC’s holdings in Rio Tinto were worth $1,237,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Pandora Wealth Inc. bought a new position in Rio Tinto during the first quarter valued at about $30,000. Pinpoint Asset Management Singapore Pte. Ltd. acquired a new stake in Rio Tinto in the 2nd quarter valued at about $38,000. MTM Investment Management LLC bought a new position in shares of Rio Tinto during the 2nd quarter valued at about $43,000. Hilltop National Bank acquired a new position in shares of Rio Tinto in the 2nd quarter worth approximately $44,000. Finally, Resources Management Corp CT ADV bought a new stake in shares of Rio Tinto in the 1st quarter worth approximately $48,000. Institutional investors own 19.33% of the company’s stock.

Rio Tinto Price Performance

NYSE RIO opened at $72.14 on Friday. Rio Tinto PLC has a twelve month low of $51.67 and a twelve month high of $73.76. The company has a current ratio of 1.53, a quick ratio of 1.03 and a debt-to-equity ratio of 0.37. The firm’s 50 day moving average price is $68.83 and its two-hundred day moving average price is $63.54.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Morgan Stanley restated an “overweight” rating on shares of Rio Tinto in a report on Wednesday, October 8th. Citigroup reiterated a “hold” rating on shares of Rio Tinto in a research report on Monday, November 17th. Zacks Research cut Rio Tinto from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 19th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Rio Tinto in a research report on Wednesday, October 8th. Two equities research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Rio Tinto has an average 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.