Y Intercept Hong Kong Ltd Purchases 29,226 Shares of Rio Tinto PLC $RIO

Y Intercept Hong Kong Ltd grew its holdings in Rio Tinto PLC (NYSE:RIO) by 275.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 39,832 shares of the mining company’s stock after acquiring an additional 29,226 shares during the period. Y Intercept Hong Kong Ltd’s holdings in Rio Tinto were worth $3,716,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of RIO. AdvisorNet Financial Inc increased its holdings in Rio Tinto by 160.2% in the 1st quarter. AdvisorNet Financial Inc now owns 294 shares of the mining company’s stock valued at $27,000 after acquiring an additional 181 shares during the last quarter. PFS Partners LLC purchased a new stake in shares of Rio Tinto in the fourth quarter worth about $28,000. Nvest Wealth Strategies Inc. bought a new position in Rio Tinto during the fourth quarter valued at approximately $28,000. Trust Co. of Toledo NA OH purchased a new position in Rio Tinto during the 4th quarter valued at approximately $34,000. Finally, Evelyn Partners Investment Management LLP purchased a new position in Rio Tinto during the 4th quarter valued at approximately $34,000. Hedge funds and other institutional investors own 19.33% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently issued reports on RIO shares. Argus set a $120.00 price objective on Rio Tinto in a report on Monday, April 27th. Zacks Research cut shares of Rio Tinto from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 7th. DZ Bank upgraded shares of Rio Tinto from a “hold” rating to a “strong-buy” rating in a report on Friday, May 29th. Royal Bank Of Canada lowered Rio Tinto from a “sector perform” rating to an “underperform” rating in a research report on Wednesday, June 3rd. Finally, Deutsche Bank Aktiengesellschaft reiterated a “hold” rating on shares of Rio Tinto in a report on Friday, May 15th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Rio Tinto has an average rating of “Hold” and a consensus price target of $101.75.

Rio Tinto Price Performance

Rio Tinto stock traded down $2.30 during mid-day trading on Tuesday, hitting $91.28. The company’s stock had a trading volume of 830,867 shares, compared to its average volume of 3,237,522. 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 has a 50 day moving average of $102.14 and a 200-day moving average of $94.69. Rio Tinto PLC has a one year low of $58.15 and a one year high of $112.58.

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.