Y Intercept Hong Kong Ltd Purchases New Stake in Rio Tinto PLC $RIO

Y Intercept Hong Kong Ltd purchased a new stake in shares of Rio Tinto PLC (NYSE:RIO) in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 26,961 shares of the mining company’s stock, valued at approximately $1,573,000.

Other large investors have also recently made changes to their positions in the company. GAMMA Investing LLC increased its position in shares of Rio Tinto by 36.8% during the first quarter. GAMMA Investing LLC now owns 2,546 shares of the mining company’s stock worth $153,000 after acquiring an additional 685 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its stake in Rio Tinto by 18.4% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 118,221 shares of the mining company’s stock valued at $7,120,000 after purchasing an additional 18,368 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. increased its holdings in Rio Tinto by 1.0% during the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 55,131 shares of the mining company’s stock worth $3,312,000 after purchasing an additional 550 shares in the last quarter. Vontobel Holding Ltd. raised its stake in shares of Rio Tinto by 48.7% in the first quarter. Vontobel Holding Ltd. now owns 13,700 shares of the mining company’s stock worth $823,000 after purchasing an additional 4,488 shares during the last quarter. Finally, Mutual Advisors LLC lifted its holdings in shares of Rio Tinto by 21.4% in the first quarter. Mutual Advisors LLC now owns 7,670 shares of the mining company’s stock valued at $464,000 after purchasing an additional 1,354 shares in the last quarter. 19.33% of the stock is owned by institutional investors.

Rio Tinto Stock Down 0.4%

Shares of NYSE:RIO opened at $71.88 on Friday. The company’s 50-day moving average is $65.76 and its 200 day moving average is $62.07. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.53 and a quick ratio of 1.03. Rio Tinto PLC has a fifty-two week low of $51.67 and a fifty-two week high of $73.76.

Analyst Ratings Changes

Several brokerages recently issued reports on RIO. Zacks Research upgraded Rio Tinto from a “hold” rating to a “strong-buy” rating in a report on Monday, October 6th. Weiss Ratings reiterated a “hold (c)” rating on shares of Rio Tinto in a research note on Wednesday, October 8th. Deutsche Bank Aktiengesellschaft downgraded shares of Rio Tinto from a “buy” rating to a “hold” rating in a report on Wednesday, July 30th. Finally, Morgan Stanley reaffirmed an “overweight” rating on shares of Rio Tinto in a research report on Wednesday, October 8th. Three investment analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $73.00.

About Rio Tinto

Rio Tinto Group engages in exploring, mining, and processing mineral resources worldwide. The company operates through Iron Ore, Aluminium, Copper, and Minerals Segments. The Iron Ore segment engages in the iron ore mining, and salt and gypsum production in Western Australia. The Aluminum segment is involved in bauxite mining; alumina refining; and aluminium smelting.