Rio Tinto PLC $RIO Shares Sold by Northwestern Mutual Wealth Management Co.

Northwestern Mutual Wealth Management Co. cut its stake in Rio Tinto PLC (NYSE:RIO) by 56.0% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 20,978 shares of the mining company’s stock after selling 26,744 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in Rio Tinto were worth $1,679,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. Wealth Quarterback LLC boosted its position in shares of Rio Tinto by 1.8% in the fourth quarter. Wealth Quarterback LLC now owns 6,532 shares of the mining company’s stock worth $523,000 after acquiring an additional 118 shares during the last quarter. Bailard Inc. boosted its position in shares of Rio Tinto by 1.1% in the fourth quarter. Bailard Inc. now owns 12,306 shares of the mining company’s stock worth $985,000 after acquiring an additional 128 shares during the last quarter. IVC Wealth Advisors LLC boosted its position in shares of Rio Tinto by 1.2% in the fourth quarter. IVC Wealth Advisors LLC now owns 10,963 shares of the mining company’s stock worth $877,000 after acquiring an additional 129 shares during the last quarter. Mather Group LLC. boosted its position in shares of Rio Tinto by 4.5% in the fourth quarter. Mather Group LLC. now owns 3,060 shares of the mining company’s stock worth $245,000 after acquiring an additional 132 shares during the last quarter. Finally, American Capital Advisory LLC boosted its position in shares of Rio Tinto by 1.0% in the fourth quarter. American Capital Advisory LLC now owns 13,492 shares of the mining company’s stock worth $1,080,000 after acquiring an additional 132 shares during the last quarter. 19.33% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently issued reports on RIO shares. Sanford C. Bernstein raised their target price on shares of Rio Tinto from $82.00 to $83.50 and gave the stock an “outperform” rating in a research report on Monday, April 27th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Rio Tinto in a research report on Wednesday, May 20th. Citigroup reaffirmed a “neutral” rating on shares of Rio Tinto in a research report on Tuesday. Bank of America cut shares of Rio Tinto from a “buy” rating to a “neutral” rating in a research report on Friday, May 22nd. Finally, JPMorgan Chase & Co. cut shares of Rio Tinto from an “overweight” rating to a “neutral” rating in a research report on Monday, March 9th. Four investment analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company. Based on data from MarketBeat, Rio Tinto presently has an average rating of “Hold” and a consensus price target of $101.75.

Rio Tinto Stock Down 0.4%

Shares of RIO stock opened at $106.54 on Thursday. The company has a quick ratio of 0.98, a current ratio of 1.44 and a debt-to-equity ratio of 0.33. Rio Tinto PLC has a fifty-two week low of $55.64 and a fifty-two week high of $112.58. The firm’s 50 day moving average price is $98.11 and its two-hundred day moving average price is $89.23.

Rio Tinto Company Profile

Rio Tinto is a global mining and metals company that explores for, mines, processes and markets a wide range of commodities. Its principal products include iron ore, aluminum, copper, diamonds and various other minerals and industrial materials. The company’s activities span the full value chain from exploration and project development to mining, processing, smelting and refining, supplying raw materials to industries such as steelmaking, automotive, packaging, electronics and construction.

The origins of Rio Tinto date back to mining operations in the Rio Tinto region of Spain in the 19th century, and the group has since grown into a multinational enterprise.