Choreo LLC Has $1.39 Million Stake in Rio Tinto PLC $RIO

Choreo LLC reduced its stake in Rio Tinto PLC (NYSE:RIO) by 6.9% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 23,865 shares of the mining company’s stock after selling 1,757 shares during the period. Choreo LLC’s holdings in Rio Tinto were worth $1,392,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Pinpoint Asset Management Singapore Pte. Ltd. bought a new position in Rio Tinto in the 2nd quarter valued at approximately $38,000. J.W. Cole Advisors Inc. grew its stake in shares of Rio Tinto by 6.6% during the second quarter. J.W. Cole Advisors Inc. now owns 6,076 shares of the mining company’s stock worth $354,000 after buying an additional 378 shares during the last quarter. Advisors Asset Management Inc. increased its holdings in shares of Rio Tinto by 3.8% during the second quarter. Advisors Asset Management Inc. now owns 91,104 shares of the mining company’s stock worth $5,314,000 after buying an additional 3,362 shares in the last quarter. Laurel Wealth Advisors LLC bought a new position in shares of Rio Tinto in the 2nd quarter valued at $238,000. Finally, XTX Topco Ltd boosted its holdings in shares of Rio Tinto by 49.3% during the 2nd quarter. XTX Topco Ltd now owns 66,915 shares of the mining company’s stock valued at $3,903,000 after acquiring an additional 22,106 shares in the last quarter. 19.33% of the stock is owned by institutional investors.

Rio Tinto Trading Down 0.1%

Rio Tinto stock opened at $72.14 on Friday. The firm’s fifty day moving average is $68.83 and its 200 day moving average is $63.54. The company has a current ratio of 1.53, a quick ratio of 1.03 and a debt-to-equity ratio of 0.37. Rio Tinto PLC has a 12-month low of $51.67 and a 12-month high of $73.76.

Wall Street Analyst Weigh In

Several equities analysts have commented on the company. Zacks Research downgraded Rio Tinto from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 19th. Weiss Ratings reiterated a “hold (c)” rating on shares of Rio Tinto in a report on Wednesday, October 8th. Citigroup reissued a “hold” rating on shares of Rio Tinto in a report on Monday, November 17th. Finally, Morgan Stanley reaffirmed an “overweight” rating on shares of Rio Tinto in a research note on Wednesday, October 8th. Two equities research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Rio Tinto has a consensus rating of “Moderate Buy” and an average target price 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.