Allspring Global Investments Holdings LLC Has $9.62 Million Stock Holdings in Rio Tinto PLC $RIO

Allspring Global Investments Holdings LLC decreased its holdings in Rio Tinto PLC (NYSE:RIO) by 7.1% during the 1st quarter, HoldingsChannel reports. The firm owned 101,512 shares of the mining company’s stock after selling 7,765 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Rio Tinto were worth $9,624,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Cubist Systematic Strategies LLC bought a new stake in shares of Rio Tinto during the 1st quarter worth $84,000. AQR Capital Management LLC grew its position in Rio Tinto by 78.4% in the first quarter. AQR Capital Management LLC now owns 12,087 shares of the mining company’s stock valued at $726,000 after acquiring an additional 5,310 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Rio Tinto by 20.7% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 11,485 shares of the mining company’s stock worth $690,000 after acquiring an additional 1,968 shares in the last quarter. Empowered Funds LLC raised its stake in Rio Tinto by 5.8% during the first quarter. Empowered Funds LLC now owns 5,280 shares of the mining company’s stock worth $317,000 after acquiring an additional 288 shares in the last quarter. Finally, Focus Partners Wealth lifted its holdings in shares of Rio Tinto by 16.7% in the first quarter. Focus Partners Wealth now owns 15,985 shares of the mining company’s stock worth $962,000 after acquiring an additional 2,285 shares during the last quarter. Institutional investors and hedge funds own 19.33% of the company’s stock.

Analyst Ratings Changes

RIO has been the topic of a number of research analyst reports. Weiss Ratings restated a “buy (b-)” rating on shares of Rio Tinto in a research note on Wednesday, May 20th. Citigroup reiterated a “neutral” rating on shares of Rio Tinto in a research report on Thursday, July 9th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating on shares of Rio Tinto in a research note on Friday, May 15th. Zacks Research lowered shares of Rio Tinto from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 7th. Finally, Royal Bank Of Canada cut shares of Rio Tinto from a “sector perform” rating to an “underperform” rating in a research note on Wednesday, June 3rd. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, seven have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $101.75.

Rio Tinto News Summary

Here are the key news stories impacting Rio Tinto this week:

• Positive Sentiment: Rio Tinto reached a commercial agreement with Cymat Technologies to transfer customers from Rio Tinto Alcan’s aluminum metal matrix composites business, a move that monetizes a non-core business and formalizes a previously announced deal. Cymat reaches official commercial agreement with Rio Tinto to take over aluminium composites business
• Positive Sentiment: Rio Tinto signed a bio-pellet supply deal with SCL for its Queensland refineries, with deliveries targeted to begin in 2028, supporting longer-term decarbonization efforts and potentially lowering refinery emissions. Rio Tinto signs bio pellet supply deal with SCL for refineries in Queensland
• Positive Sentiment: Rio Tinto also signed a five-year bio-pellet agreement with SuperChar to cut emissions at its Gladstone alumina refineries, reinforcing its push to reduce operating emissions and improve environmental positioning. Rio Tinto signs five-year bio pellet deal with SuperChar to cut alumina refinery emissions
• Neutral Sentiment: Rio Tinto announced another supply agreement for bio pellets for its Gladstone alumina refineries, adding to the company’s emissions-cutting initiatives but not creating an immediate earnings catalyst. Rio Tinto signs bio pellet supply agreement for Gladstone alumina refineries
• Neutral Sentiment: Chinese media reported deliveries of large mining equipment to Rio Tinto, which highlights ongoing operations and capex-related activity, but appears more operational than stock-moving. CSSC delivers record-breaking self-discharger to mining giant Rio Tinto
• Negative Sentiment: A new sell rating on Rio Tinto could weigh on sentiment, as analyst downgrades may reinforce concerns about valuation or near-term upside. New Sell Rating for Rio Tinto (RIO), the Basic Materials Giant

Rio Tinto Trading Up 2.0%

Shares of NYSE RIO opened at $92.39 on Thursday. The company has a 50 day simple moving average of $99.05 and a 200 day simple moving average of $95.73. The company has a current ratio of 1.44, a quick ratio of 0.98 and a debt-to-equity ratio of 0.33. Rio Tinto PLC has a 1 year low of $58.40 and a 1 year high of $112.58.

About Rio Tinto

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.