Freestone Capital Holdings LLC Has $400,000 Stake in Rio Tinto PLC $RIO

Freestone Capital Holdings LLC boosted its position in shares of Rio Tinto PLC (NYSE:RIO) by 22.7% during the second quarter, HoldingsChannel reports. The institutional investor owned 6,851 shares of the mining company’s stock after purchasing an additional 1,269 shares during the period. Freestone Capital Holdings LLC’s holdings in Rio Tinto were worth $400,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Goldman Sachs Group Inc. boosted its stake in shares of Rio Tinto by 4.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 8,368,620 shares of the mining company’s stock valued at $502,787,000 after purchasing an additional 326,661 shares in the last quarter. Auto Owners Insurance Co boosted its stake in shares of Rio Tinto by 77,150.0% in the 1st quarter. Auto Owners Insurance Co now owns 7,416,000 shares of the mining company’s stock valued at $445,553,000 after purchasing an additional 7,406,400 shares in the last quarter. Kingstone Capital Partners Texas LLC acquired a new stake in shares of Rio Tinto in the 2nd quarter valued at approximately $292,770,000. Dimensional Fund Advisors LP boosted its stake in shares of Rio Tinto by 33.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,938,247 shares of the mining company’s stock valued at $116,510,000 after purchasing an additional 490,357 shares in the last quarter. Finally, Bank of Montreal Can boosted its stake in shares of Rio Tinto by 71.7% in the 2nd quarter. Bank of Montreal Can now owns 1,855,607 shares of the mining company’s stock valued at $108,238,000 after purchasing an additional 774,851 shares in the last quarter. 19.33% of the stock is currently owned by institutional investors and hedge funds.

Rio Tinto Trading Down 3.4%

Shares of NYSE RIO opened at $68.01 on Wednesday. The company has a 50 day simple moving average of $66.04 and a 200 day simple moving average of $62.26. Rio Tinto PLC has a 1 year low of $51.67 and a 1 year high of $73.76. The company has a current ratio of 1.53, a quick ratio of 1.03 and a debt-to-equity ratio of 0.37.

Wall Street Analysts Forecast Growth

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

Rio Tinto Company Profile

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.