Rio Tinto PLC $RIO Shares Sold by Todd Asset Management LLC

Todd Asset Management LLC lowered its position in shares of Rio Tinto PLC (NYSE:RIO) by 0.8% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,084,815 shares of the mining company’s stock after selling 9,088 shares during the period. Rio Tinto makes up approximately 1.7% of Todd Asset Management LLC’s portfolio, making the stock its 3rd largest position. Todd Asset Management LLC’s holdings in Rio Tinto were worth $86,818,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Wealth Quarterback LLC increased its holdings in Rio Tinto by 1.8% in the 4th quarter. Wealth Quarterback LLC now owns 6,532 shares of the mining company’s stock valued at $523,000 after purchasing an additional 118 shares during the last quarter. Americana Partners LLC lifted its position in shares of Rio Tinto by 0.8% during the 4th 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 during the last quarter. Bailard Inc. lifted its position in shares of Rio Tinto by 1.1% during the 4th quarter. Bailard Inc. now owns 12,306 shares of the mining company’s stock worth $985,000 after purchasing an additional 128 shares during the last quarter. IVC Wealth Advisors LLC lifted its position in shares of Rio Tinto by 1.2% during the 4th 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 during the last quarter. Finally, Mather Group LLC. lifted its position in shares of Rio Tinto by 4.5% during the 4th quarter. Mather Group LLC. now owns 3,060 shares of the mining company’s stock worth $245,000 after purchasing an additional 132 shares during the last quarter. Institutional investors and hedge funds own 19.33% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. HSBC cut shares of Rio Tinto from a “buy” rating to a “hold” rating in a research report on Monday, January 26th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Rio Tinto in a research report on Wednesday. Zacks Research cut shares of Rio Tinto from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 7th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating on shares of Rio Tinto in a research report on Friday, May 15th. Finally, Argus set a $120.00 price objective on shares of Rio Tinto in a research report on Monday, April 27th. Four investment analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company. Based on data from MarketBeat.com, Rio Tinto has a consensus rating of “Hold” and a consensus price target of $101.75.

Rio Tinto Stock Up 0.0%

NYSE RIO opened at $104.24 on Monday. Rio Tinto PLC has a 52-week low of $55.64 and a 52-week high of $112.58. The firm has a 50-day moving average price of $97.13 and a 200 day moving average price of $88.44. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.44 and a quick ratio of 0.98.

About Rio Tinto

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.