Hunter Associates Investment Management LLC Lowers Position in Rio Tinto PLC $RIO

Hunter Associates Investment Management LLC lessened its stake in Rio Tinto PLC (NYSE:RIO) by 51.2% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,100 shares of the mining company’s stock after selling 6,400 shares during the quarter. Hunter Associates Investment Management LLC’s holdings in Rio Tinto were worth $569,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of RIO. QRG Capital Management Inc. grew its holdings in Rio Tinto by 17.3% during the first quarter. QRG Capital Management Inc. now owns 94,934 shares of the mining company’s stock worth $8,856,000 after buying an additional 13,994 shares in the last quarter. Oxbow Advisors LLC lifted its stake in Rio Tinto by 5.4% during the 1st quarter. Oxbow Advisors LLC now owns 71,732 shares of the mining company’s stock valued at $6,692,000 after acquiring an additional 3,706 shares in the last quarter. HB Wealth Management LLC boosted its holdings in Rio Tinto by 15.2% during the 1st quarter. HB Wealth Management LLC now owns 7,005 shares of the mining company’s stock worth $654,000 after acquiring an additional 923 shares during the last quarter. Moran Wealth Management LLC boosted its holdings in Rio Tinto by 8.2% during the 1st quarter. Moran Wealth Management LLC now owns 117,834 shares of the mining company’s stock worth $10,993,000 after acquiring an additional 8,943 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd grew its stake in shares of Rio Tinto by 275.6% in the 1st quarter. Y Intercept Hong Kong Ltd now owns 39,832 shares of the mining company’s stock worth $3,716,000 after acquiring an additional 29,226 shares in the last quarter. Hedge funds and other institutional investors own 19.33% of the company’s stock.

Wall Street Analysts Forecast Growth

RIO has been the subject of several analyst reports. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating on shares of Rio Tinto in a report on Friday, May 15th. Zacks Research downgraded shares of Rio Tinto from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 7th. Royal Bank Of Canada lowered shares of Rio Tinto from a “sector perform” rating to an “underperform” rating in a research note on Wednesday, June 3rd. DZ Bank raised shares of Rio Tinto from a “hold” rating to a “strong-buy” rating in a research report on Friday, May 29th. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Rio Tinto in a research note on Wednesday, May 20th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Rio Tinto has an average rating of “Hold” and a consensus target price of $101.75.

Rio Tinto Stock Up 0.0%

NYSE RIO opened at $94.44 on Monday. Rio Tinto PLC has a one year low of $57.65 and a one year high of $112.58. The company has a current ratio of 1.44, a quick ratio of 0.98 and a debt-to-equity ratio of 0.33. The business’s fifty day moving average is $102.14 and its 200-day moving average is $94.69.

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.