Rio Tinto PLC $RIO Shares Acquired by Rockefeller Capital Management L.P.

Rockefeller Capital Management L.P. increased its stake in shares of Rio Tinto PLC (NYSE:RIO) by 33.2% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 130,864 shares of the mining company’s stock after purchasing an additional 32,604 shares during the period. Rockefeller Capital Management L.P.’s holdings in Rio Tinto were worth $10,473,000 as of its most recent filing with the Securities & Exchange Commission.

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

Rio Tinto Trading Down 1.7%

NYSE RIO opened at $93.98 on Thursday. The business’s fifty day simple moving average is $102.84 and its 200-day simple moving average is $93.73. 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 52 week low of $56.20 and a 52 week high of $112.58.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. Citigroup reiterated a “neutral” rating on shares of Rio Tinto in a research report on Tuesday, May 26th. 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. Sanford C. Bernstein increased their target price on shares of Rio Tinto from $82.00 to $83.50 and gave the company an “outperform” rating in a research report on Monday, April 27th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating on shares of Rio Tinto in a research note on Friday, May 15th. Finally, Bank of America lowered shares of Rio Tinto from a “buy” rating to a “neutral” rating in a research report on Friday, May 22nd. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $101.75.

Trending Headlines about Rio Tinto

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

• Positive Sentiment: Rio Tinto said its lithium business could become its fastest-growing division as it works to triple output by 2028, reinforcing its exposure to EV and battery-storage demand. Rio Tinto sees lithium as fastest-growing division, executive says
• Positive Sentiment: Rio Tinto, BHP, and Caterpillar launched battery-electric haul truck trials in the Pilbara, a sign the company is pushing to lower costs and emissions across its iron ore operations. BHP, Rio Tinto, and Caterpillar launch battery-electric haul truck trial in the Pilbara
• Neutral Sentiment: Several articles compared Rio Tinto with peer BHP and the broader basic materials sector, but these were mostly valuation and performance check-ins rather than new company-specific catalysts. Is Rio Tinto (RIO) Stock Outpacing Its Basic Materials Peers This Year?
• Neutral Sentiment: Additional coverage on electric truck testing in the Pilbara reinforces the same operational theme, but does not appear to add materially new information. BHP and Rio Tinto test Caterpillar’s electric haul trucks in Pilbara

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.