Cibc World Market Inc. Has $6.95 Million Stake in Rio Tinto PLC $RIO

Cibc World Market Inc. decreased its position in Rio Tinto PLC (NYSE:RIO) by 15.1% during the 4th quarter, HoldingsChannel.com reports. The firm owned 86,879 shares of the mining company’s stock after selling 15,408 shares during the period. Cibc World Market Inc.’s holdings in Rio Tinto were worth $6,953,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Wealth Quarterback LLC increased 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 valued at $523,000 after acquiring an additional 118 shares during the last quarter. Americana Partners LLC increased its position in shares of Rio Tinto by 0.8% in the fourth quarter. Americana Partners LLC now owns 16,108 shares of the mining company’s stock valued at $1,289,000 after acquiring an additional 120 shares during the last quarter. Cary Street Partners Investment Advisory LLC increased its position in shares of Rio Tinto by 19.1% in the fourth quarter. Cary Street Partners Investment Advisory LLC now owns 772 shares of the mining company’s stock valued at $62,000 after acquiring an additional 124 shares during the last quarter. Bailard Inc. increased 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 valued at $985,000 after acquiring an additional 128 shares during the last quarter. Finally, IVC Wealth Advisors LLC increased 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 valued at $877,000 after acquiring an additional 129 shares during the last quarter. Institutional investors and hedge funds own 19.33% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on RIO shares. Zacks Research downgraded Rio Tinto from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 7th. Bank of America cut Rio Tinto from a “buy” rating to a “neutral” rating in a report on Friday, May 22nd. Barclays cut Rio Tinto from an “overweight” rating to an “equal weight” rating in a report on Tuesday, February 24th. JPMorgan Chase & Co. cut Rio Tinto from an “overweight” rating to a “neutral” rating in a report on Monday, March 9th. Finally, Argus set a $120.00 price target on Rio Tinto in a report on Monday, April 27th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $101.75.

Rio Tinto Trading Down 0.1%

Shares of NYSE:RIO opened at $100.59 on Monday. Rio Tinto PLC has a 12-month low of $55.64 and a 12-month high of $112.58. The business has a 50 day moving average of $100.94 and a 200-day moving average of $91.02. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.98 and a current ratio of 1.44.

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.