45,000 Shares in Rio Tinto PLC $RIO Purchased by Amanah Holdings Trust

Amanah Holdings Trust bought a new position in Rio Tinto PLC (NYSE:RIO) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 45,000 shares of the mining company’s stock, valued at approximately $3,601,000. Rio Tinto accounts for approximately 0.5% of Amanah Holdings Trust’s investment portfolio, making the stock its 20th biggest holding.

Other hedge funds have also added to or reduced their stakes in the company. PFS Partners LLC bought a new stake in Rio Tinto during the 4th quarter worth approximately $28,000. Nvest Wealth Strategies Inc. bought a new position in Rio Tinto in the 4th quarter valued at $28,000. Trust Co. of Toledo NA OH bought a new position in Rio Tinto in the 4th quarter valued at $34,000. Evelyn Partners Investment Management LLP purchased a new position in shares of Rio Tinto during the 4th quarter valued at $34,000. Finally, Glen Eagle Advisors LLC grew its position in shares of Rio Tinto by 32.2% during the 4th quarter. Glen Eagle Advisors LLC now owns 452 shares of the mining company’s stock valued at $36,000 after purchasing an additional 110 shares in the last quarter. Hedge funds and other institutional investors own 19.33% of the company’s stock.

Rio Tinto Stock Down 2.4%

NYSE RIO opened at $100.22 on Friday. Rio Tinto PLC has a 52-week low of $55.64 and a 52-week high of $112.58. The company has a fifty day moving average of $102.92 and a 200-day moving average of $93.05. The company has a quick ratio of 0.98, a current ratio of 1.44 and a debt-to-equity ratio of 0.33.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on RIO shares. Citigroup reiterated a “neutral” rating on shares of Rio Tinto in a research report on Tuesday, May 26th. Bank of America cut Rio Tinto from a “buy” rating to a “neutral” rating in a research report on Friday, May 22nd. Argus set a $120.00 target price on Rio Tinto in a research note on Monday, April 27th. JPMorgan Chase & Co. cut Rio Tinto from an “overweight” rating to a “neutral” rating in a report on Monday, March 9th. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Rio Tinto in a research report on Wednesday, May 20th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $101.75.

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.