Opal Capital LLC Invests $3.23 Million in Rio Tinto PLC $RIO

Opal Capital LLC bought a new position in Rio Tinto PLC (NYSE:RIO) during the fourth quarter, according to its most recent 13F filing with the SEC. The fund bought 40,376 shares of the mining company’s stock, valued at approximately $3,231,000.

A number of other large investors have also recently made changes to their positions in the business. Cubist Systematic Strategies LLC bought a new position in Rio Tinto during the 1st quarter valued at about $84,000. AQR Capital Management LLC grew its holdings in Rio Tinto by 78.4% during the 1st quarter. AQR Capital Management LLC now owns 12,087 shares of the mining company’s stock valued at $726,000 after purchasing an additional 5,310 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Rio Tinto by 20.7% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 11,485 shares of the mining company’s stock valued at $690,000 after purchasing an additional 1,968 shares during the last quarter. Empowered Funds LLC grew its holdings in Rio Tinto by 5.8% during the 1st quarter. Empowered Funds LLC now owns 5,280 shares of the mining company’s stock valued at $317,000 after purchasing an additional 288 shares during the last quarter. Finally, Focus Partners Wealth grew its holdings in Rio Tinto by 16.7% during the 1st quarter. Focus Partners Wealth now owns 15,985 shares of the mining company’s stock valued at $962,000 after purchasing an additional 2,285 shares during the last quarter. 19.33% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Zacks Research downgraded shares of Rio Tinto from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 7th. JPMorgan Chase & Co. downgraded shares of Rio Tinto from an “overweight” rating to a “neutral” rating in a report on Monday, March 9th. Argus set a $120.00 price target on shares of Rio Tinto in a report on Monday, April 27th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Rio Tinto in a report on Wednesday, May 20th. Finally, DZ Bank upgraded shares of Rio Tinto from a “hold” rating to a “strong-buy” rating in a report on Friday, May 29th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $101.75.

Rio Tinto Trading Down 0.1%

Shares of RIO opened at $105.73 on Wednesday. The company has a 50 day moving average price of $102.63 and a 200-day moving average price of $92.64. Rio Tinto PLC has a fifty-two week low of $55.64 and a fifty-two week high of $112.58. The company has a quick ratio of 0.98, a current ratio of 1.44 and a debt-to-equity ratio of 0.33.

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.