Earnest Partners LLC trimmed its holdings in shares of Rio Tinto plc ADR (NYSE:RIO) by 1.2% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,201,477 shares of the mining company’s stock after selling 27,474 shares during the period. Rio Tinto makes up about 1.2% of Earnest Partners LLC’s holdings, making the stock its 13th biggest position. Earnest Partners LLC’s holdings in Rio Tinto were worth $137,240,000 at the end of the most recent quarter.
A number of other large investors have also bought and sold shares of the stock. Personal Wealth Partners acquired a new position in Rio Tinto in the 2nd quarter worth about $25,000. Liberty Wealth Management LLC increased its position in Rio Tinto by 238.6% in the 2nd quarter. Liberty Wealth Management LLC now owns 491 shares of the mining company’s stock worth $31,000 after purchasing an additional 346 shares during the last quarter. Arrow Financial Corp acquired a new position in Rio Tinto in the 2nd quarter worth about $34,000. FinTrust Capital Advisors LLC increased its position in Rio Tinto by 234.1% in the 2nd quarter. FinTrust Capital Advisors LLC now owns 568 shares of the mining company’s stock worth $35,000 after purchasing an additional 398 shares during the last quarter. Finally, Manchester Financial Inc. acquired a new position in Rio Tinto in the 2nd quarter worth about $41,000. 8.21% of the stock is currently owned by hedge funds and other institutional investors.
RIO has been the topic of several research reports. Exane BNP Paribas raised Rio Tinto from an “underperform” rating to a “neutral” rating in a research report on Thursday, September 5th. Barclays lowered Rio Tinto from an “equal weight” rating to an “underweight” rating in a research report on Thursday, June 6th. Renaissance Capital lowered Rio Tinto from a “buy” rating to a “hold” rating in a research report on Tuesday, July 16th. BMO Capital Markets raised Rio Tinto from a “market perform” rating to an “outperform” rating in a research report on Tuesday, September 3rd. Finally, Goldman Sachs Group raised Rio Tinto from a “neutral” rating to a “buy” rating in a research report on Monday, May 27th. Seven research analysts have rated the stock with a sell rating, ten have issued a hold rating and four have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $59.77.
Shares of NYSE RIO opened at $55.10 on Friday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.22 and a current ratio of 1.55. The firm has a market cap of $70.12 billion, a price-to-earnings ratio of 10.87 and a beta of 0.88. The business’s 50-day simple moving average is $51.53 and its 200-day simple moving average is $57.48. Rio Tinto plc ADR has a 52 week low of $44.62 and a 52 week high of $64.02.
Rio Tinto Profile
Rio Tinto Group engages in finding, mining, and processing mineral resources worldwide. The company offers aluminium, silver, molybdenum, copper, diamonds, gold, borates, titanium dioxide, salt, iron ore, and uranium. It is also involved in the alumina production; primary aluminium smelting; bauxite mining; alumina refining; and ilmenite mining, as well as provision of gypsum.
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