Rio Tinto PLC $RIO Shares Acquired by Assetmark Inc.

Assetmark Inc. lifted its stake in shares of Rio Tinto PLC (NYSE:RIO) by 8.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 70,330 shares of the mining company’s stock after purchasing an additional 5,259 shares during the quarter. Assetmark Inc.’s holdings in Rio Tinto were worth $4,102,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in RIO. Wayfinding Financial LLC acquired a new stake in shares of Rio Tinto during the 1st quarter worth approximately $30,000. Pandora Wealth Inc. bought a new stake in Rio Tinto in the 1st quarter valued at about $30,000. Hilltop National Bank bought a new stake in Rio Tinto in the 2nd quarter valued at about $44,000. Resources Management Corp CT ADV bought a new stake in Rio Tinto in the 1st quarter valued at about $48,000. Finally, Cary Street Partners Investment Advisory LLC lifted its position in Rio Tinto by 65.1% in the 1st quarter. Cary Street Partners Investment Advisory LLC now owns 852 shares of the mining company’s stock valued at $51,000 after purchasing an additional 336 shares during the last quarter. 19.33% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms recently commented on RIO. Weiss Ratings restated a “hold (c)” rating on shares of Rio Tinto in a research report on Wednesday, October 8th. Zacks Research upgraded Rio Tinto from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 6th. Deutsche Bank Aktiengesellschaft cut Rio Tinto from a “buy” rating to a “hold” rating in a research report on Wednesday, July 30th. Finally, Morgan Stanley restated an “overweight” rating on shares of Rio Tinto in a research report on Wednesday, October 8th. Three equities research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, Rio Tinto currently has an average rating of “Moderate Buy” and a consensus target price of $73.00.

Rio Tinto Stock Down 1.8%

Shares of RIO stock opened at $70.43 on Tuesday. Rio Tinto PLC has a 1 year low of $51.67 and a 1 year high of $73.76. The business’s fifty day moving average is $65.92 and its 200-day moving average is $62.19. The company has a current ratio of 1.53, a quick ratio of 1.03 and a debt-to-equity ratio of 0.37.

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.