Alphadyne Asset Management LP Boosts Stock Holdings in Rio Tinto PLC $RIO

Alphadyne Asset Management LP raised its stake in Rio Tinto PLC (NYSE:RIO) by 33.3% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 40,000 shares of the mining company’s stock after acquiring an additional 10,000 shares during the period. Rio Tinto makes up 0.1% of Alphadyne Asset Management LP’s portfolio, making the stock its 22nd largest holding. Alphadyne Asset Management LP’s holdings in Rio Tinto were worth $3,201,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of the stock. Guggenheim Capital LLC raised its holdings in shares of Rio Tinto by 3.5% during the 4th quarter. Guggenheim Capital LLC now owns 34,940 shares of the mining company’s stock worth $2,796,000 after acquiring an additional 1,177 shares in the last quarter. AQR Arbitrage LLC increased its position in Rio Tinto by 105.4% in the fourth quarter. AQR Arbitrage LLC now owns 536,093 shares of the mining company’s stock worth $42,904,000 after purchasing an additional 275,093 shares during the last quarter. DV Equities LLC bought a new stake in Rio Tinto in the fourth quarter worth $268,000. AQR Capital Management LLC increased its position in Rio Tinto by 69.8% in the fourth quarter. AQR Capital Management LLC now owns 53,952 shares of the mining company’s stock worth $4,318,000 after purchasing an additional 22,185 shares during the last quarter. Finally, GAM Holding AG bought a new stake in Rio Tinto in the fourth quarter worth $240,000. Hedge funds and other institutional investors own 19.33% of the company’s stock.

Rio Tinto Trading Down 2.8%

RIO stock opened at $102.74 on Thursday. 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 twelve month low of $55.64 and a twelve month high of $112.58. The firm’s fifty day simple moving average is $102.80 and its two-hundred day simple moving average is $92.85.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on RIO. Sanford C. Bernstein boosted their price target 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. Barclays cut shares of Rio Tinto from an “overweight” rating to an “equal weight” rating in a research report on Tuesday, February 24th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating on shares of Rio Tinto in a research note on Friday, May 15th. Weiss Ratings restated a “buy (b-)” rating on shares of Rio Tinto in a research report on Wednesday, May 20th. Finally, JPMorgan Chase & Co. lowered Rio Tinto from an “overweight” rating to a “neutral” rating in a research note on Monday, March 9th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Rio Tinto currently has an average rating of “Hold” and an average price target 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.