Nano Cap New Millennium Growth Fund L P Invests $400,000 in Rio Tinto PLC $RIO

Nano Cap New Millennium Growth Fund L P bought a new position in Rio Tinto PLC (NYSE:RIO) in the 4th quarter, Holdings Channel reports. The firm bought 5,000 shares of the mining company’s stock, valued at approximately $400,000.

Several other institutional investors have also recently made changes to their positions in the company. Wealth Quarterback LLC lifted its holdings in shares of Rio Tinto by 1.8% in the 4th quarter. Wealth Quarterback LLC now owns 6,532 shares of the mining company’s stock worth $523,000 after acquiring an additional 118 shares during the last quarter. Bailard Inc. lifted its holdings in shares of Rio Tinto by 1.1% in the 4th quarter. Bailard Inc. now owns 12,306 shares of the mining company’s stock worth $985,000 after acquiring an additional 128 shares during the last quarter. IVC Wealth Advisors LLC lifted its holdings in shares of Rio Tinto by 1.2% in the 4th quarter. IVC Wealth Advisors LLC now owns 10,963 shares of the mining company’s stock worth $877,000 after acquiring an additional 129 shares during the last quarter. Mather Group LLC. lifted its holdings in shares of Rio Tinto by 4.5% in the 4th quarter. Mather Group LLC. now owns 3,060 shares of the mining company’s stock worth $245,000 after acquiring an additional 132 shares during the last quarter. Finally, American Capital Advisory LLC lifted its holdings in shares of Rio Tinto by 1.0% in the 4th quarter. American Capital Advisory LLC now owns 13,492 shares of the mining company’s stock worth $1,080,000 after acquiring an additional 132 shares during the last quarter. Institutional investors own 19.33% of the company’s stock.

Analyst Ratings Changes

RIO has been the subject of a number of recent analyst reports. Morgan Stanley cut Rio Tinto from an “overweight” rating to an “equal weight” rating in a report on Wednesday, January 28th. DZ Bank cut Rio Tinto from a “strong-buy” rating to a “hold” rating in a report on Friday, February 20th. Deutsche Bank Aktiengesellschaft restated a “hold” rating on shares of Rio Tinto in a report on Friday, May 15th. JPMorgan Chase & Co. cut Rio Tinto from an “overweight” rating to a “neutral” rating in a report on Monday, March 9th. Finally, Barclays cut Rio Tinto from an “overweight” rating to an “equal weight” rating in a report on Tuesday, February 24th. Four investment analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $101.75.

Rio Tinto Price Performance

Shares of RIO stock opened at $104.88 on Friday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.98 and a current ratio of 1.44. The company’s 50-day simple moving average is $96.89 and its two-hundred day simple moving average is $88.20. Rio Tinto PLC has a one year low of $55.64 and a one year high of $112.58.

Rio Tinto Company Profile

Rio Tinto is a global mining and metals company that explores for, mines, processes and markets a wide range of commodities. Its principal products include iron ore, aluminum, copper, diamonds and various other minerals and industrial materials. The company’s activities span the full value chain from exploration and project development to mining, processing, smelting and refining, supplying raw materials to industries such as steelmaking, automotive, packaging, electronics and construction.

The origins of Rio Tinto date back to mining operations in the Rio Tinto region of Spain in the 19th century, and the group has since grown into a multinational enterprise.