Rio Tinto PLC $RIO Shares Sold by Cullen Capital Management LLC

Cullen Capital Management LLC cut its holdings in shares of Rio Tinto PLC (NYSE:RIO) by 4.7% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 882,679 shares of the mining company’s stock after selling 43,821 shares during the quarter. Cullen Capital Management LLC’s holdings in Rio Tinto were worth $51,487,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in RIO. Amundi raised its holdings in Rio Tinto by 224.0% in the 1st quarter. Amundi now owns 230,891 shares of the mining company’s stock worth $13,491,000 after purchasing an additional 159,636 shares during the period. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Rio Tinto in the first quarter valued at approximately $357,000. Assetmark Inc. raised its stake in shares of Rio Tinto by 8.1% during the 2nd quarter. Assetmark Inc. now owns 70,330 shares of the mining company’s stock worth $4,102,000 after buying an additional 5,259 shares during the period. Soltis Investment Advisors LLC raised its stake in shares of Rio Tinto by 6.3% during the 2nd quarter. Soltis Investment Advisors LLC now owns 140,546 shares of the mining company’s stock worth $8,198,000 after buying an additional 8,314 shares during the period. Finally, Acadian Asset Management LLC lifted its position in shares of Rio Tinto by 37.9% during the 1st quarter. Acadian Asset Management LLC now owns 57,595 shares of the mining company’s stock valued at $3,458,000 after buying an additional 15,839 shares in the last quarter. 19.33% of the stock is owned by hedge funds and other institutional investors.

Rio Tinto Price Performance

RIO opened at $75.57 on Monday. Rio Tinto PLC has a twelve month low of $51.67 and a twelve month high of $76.99. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.03 and a current ratio of 1.53. The firm’s 50-day moving average price is $70.61 and its 200 day moving average price is $64.43.

Analyst Ratings Changes

RIO has been the topic of a number of research analyst reports. Citigroup reissued a “hold” rating on shares of Rio Tinto in a research note on Monday, November 17th. Weiss Ratings reissued a “hold (c+)” rating on shares of Rio Tinto in a research note on Monday, December 8th. Zacks Research lowered shares of Rio Tinto from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 19th. Argus boosted their price objective on Rio Tinto from $70.00 to $85.00 and gave the stock a “buy” rating in a research note on Thursday. Finally, Royal Bank Of Canada reissued a “sector perform” rating on shares of Rio Tinto in a report on Monday, December 1st. Two analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and seven have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $79.00.

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.