Rio Tinto PLC $RIO is Catalyst Funds Management Pty Ltd’s 2nd Largest Position

Catalyst Funds Management Pty Ltd lifted its stake in shares of Rio Tinto PLC (NYSE:RIO) by 23.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 301,607 shares of the mining company’s stock after purchasing an additional 57,391 shares during the period. Rio Tinto comprises 5.6% of Catalyst Funds Management Pty Ltd’s investment portfolio, making the stock its 2nd biggest position. Catalyst Funds Management Pty Ltd’s holdings in Rio Tinto were worth $24,138,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. Wealth Quarterback LLC increased its stake in shares of Rio Tinto by 1.8% during the fourth quarter. Wealth Quarterback LLC now owns 6,532 shares of the mining company’s stock worth $523,000 after purchasing an additional 118 shares in the last quarter. Americana Partners LLC increased its stake in shares of Rio Tinto by 0.8% during the fourth quarter. Americana Partners LLC now owns 16,108 shares of the mining company’s stock worth $1,289,000 after purchasing an additional 120 shares in the last quarter. Bailard Inc. increased its stake in shares of Rio Tinto by 1.1% during the fourth quarter. Bailard Inc. now owns 12,306 shares of the mining company’s stock worth $985,000 after purchasing an additional 128 shares in the last quarter. IVC Wealth Advisors LLC increased its stake in shares of Rio Tinto by 1.2% during the fourth quarter. IVC Wealth Advisors LLC now owns 10,963 shares of the mining company’s stock worth $877,000 after purchasing an additional 129 shares in the last quarter. Finally, Mather Group LLC. increased its stake in shares of Rio Tinto by 4.5% during the fourth quarter. Mather Group LLC. now owns 3,060 shares of the mining company’s stock worth $245,000 after purchasing an additional 132 shares in the last quarter. Hedge funds and other institutional investors own 19.33% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently commented on RIO. Morgan Stanley cut shares of Rio Tinto from an “overweight” rating to an “equal weight” rating in a research note on Wednesday, January 28th. Citigroup restated a “neutral” rating on shares of Rio Tinto in a research report on Monday, April 13th. JPMorgan Chase & Co. lowered shares of Rio Tinto from an “overweight” rating to a “neutral” rating in a research report on Monday, March 9th. Barclays lowered shares of Rio Tinto from an “overweight” rating to an “equal weight” rating in a research report on Tuesday, February 24th. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating on shares of Rio Tinto in a research report on Friday, May 15th. Four equities research analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $101.75.

Rio Tinto Price Performance

RIO opened at $104.24 on Friday. Rio Tinto PLC has a twelve month low of $55.64 and a twelve month high of $112.58. The firm’s 50-day moving average price is $97.13 and its 200 day moving average price is $88.32. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.98 and a current ratio of 1.44.

Rio Tinto 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.