AMG National Trust Bank Buys Shares of 4,272 Rio Tinto PLC $RIO

AMG National Trust Bank bought a new stake in shares of Rio Tinto PLC (NYSE:RIO) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 4,272 shares of the mining company’s stock, valued at approximately $249,000.

Several other hedge funds also recently made changes to their positions in RIO. GAMMA Investing LLC grew its stake in shares of Rio Tinto by 36.8% in the 1st quarter. GAMMA Investing LLC now owns 2,546 shares of the mining company’s stock worth $153,000 after purchasing an additional 685 shares during the last quarter. Allspring Global Investments Holdings LLC grew its stake in shares of Rio Tinto by 18.4% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 118,221 shares of the mining company’s stock worth $7,120,000 after purchasing an additional 18,368 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. grew its stake in shares of Rio Tinto by 1.0% in the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 55,131 shares of the mining company’s stock worth $3,312,000 after purchasing an additional 550 shares during the last quarter. Vontobel Holding Ltd. grew its stake in shares of Rio Tinto by 48.7% in the 1st quarter. Vontobel Holding Ltd. now owns 13,700 shares of the mining company’s stock worth $823,000 after purchasing an additional 4,488 shares during the last quarter. Finally, Mutual Advisors LLC grew its stake in shares of Rio Tinto by 21.4% in the 1st quarter. Mutual Advisors LLC now owns 7,670 shares of the mining company’s stock worth $464,000 after purchasing an additional 1,354 shares during the last quarter. Institutional investors and hedge funds own 19.33% of the company’s stock.

Rio Tinto Stock Down 0.4%

Rio Tinto stock opened at $71.88 on Friday. The firm’s 50 day simple moving average is $65.76 and its 200-day simple moving average is $62.07. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.53 and a quick ratio of 1.03. Rio Tinto PLC has a fifty-two week low of $51.67 and a fifty-two week high of $73.76.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on RIO. Zacks Research raised shares of Rio Tinto from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 6th. Morgan Stanley reaffirmed an “overweight” rating on shares of Rio Tinto in a research note on Wednesday, October 8th. Weiss Ratings reissued a “hold (c)” rating on shares of Rio Tinto in a research report on Wednesday, October 8th. Finally, Deutsche Bank Aktiengesellschaft downgraded shares of Rio Tinto from a “buy” rating to a “hold” rating in a research report on Wednesday, July 30th. Three equities research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, Rio Tinto currently has an average rating of “Moderate Buy” and a consensus target price of $73.00.

Rio Tinto Profile

Rio Tinto Group engages in exploring, mining, and processing mineral resources worldwide. The company operates through Iron Ore, Aluminium, Copper, and Minerals Segments. The Iron Ore segment engages in the iron ore mining, and salt and gypsum production in Western Australia. The Aluminum segment is involved in bauxite mining; alumina refining; and aluminium smelting.