Saturna Capital Corp Boosts Stock Holdings in Rio Tinto PLC $RIO

Saturna Capital Corp raised its position in shares of Rio Tinto PLC (NYSE:RIO) by 11.7% in the second quarter, Holdings Channel.com reports. The fund owned 85,920 shares of the mining company’s stock after acquiring an additional 9,005 shares during the quarter. Saturna Capital Corp’s holdings in Rio Tinto were worth $5,012,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. TD Waterhouse Canada Inc. raised its stake in Rio Tinto by 4.2% in the 2nd quarter. TD Waterhouse Canada Inc. now owns 33,741 shares of the mining company’s stock valued at $1,964,000 after purchasing an additional 1,349 shares during the last quarter. Pin Oak Investment Advisors Inc. grew its holdings in shares of Rio Tinto by 17.7% during the second quarter. Pin Oak Investment Advisors Inc. now owns 1,900 shares of the mining company’s stock worth $114,000 after buying an additional 286 shares in the last quarter. Inspire Advisors LLC grew its holdings in shares of Rio Tinto by 3.9% during the second quarter. Inspire Advisors LLC now owns 8,883 shares of the mining company’s stock worth $518,000 after buying an additional 337 shares in the last quarter. Frank Rimerman Advisors LLC raised its position in shares of Rio Tinto by 11.7% in the second quarter. Frank Rimerman Advisors LLC now owns 12,882 shares of the mining company’s stock valued at $751,000 after buying an additional 1,349 shares during the last quarter. Finally, Chiron Capital Management LLC raised its position in shares of Rio Tinto by 51.8% in the second quarter. Chiron Capital Management LLC now owns 8,511 shares of the mining company’s stock valued at $496,000 after buying an additional 2,906 shares during the last quarter. 19.33% of the stock is owned by institutional investors and hedge funds.

Rio Tinto Trading Down 1.1%

NYSE:RIO opened at $69.72 on Wednesday. Rio Tinto PLC has a 52 week low of $51.67 and a 52 week high of $73.76. The stock’s fifty day moving average is $67.53 and its two-hundred day moving average is $62.98. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.03 and a current ratio of 1.53.

Analyst Upgrades and Downgrades

RIO has been the topic of a number of recent research reports. Deutsche Bank Aktiengesellschaft lowered shares of Rio Tinto from a “buy” rating to a “hold” rating in a research report on Wednesday, July 30th. Morgan Stanley reissued an “overweight” rating on shares of Rio Tinto in a research note on Wednesday, October 8th. Citigroup restated a “neutral” rating on shares of Rio Tinto in a research report on Monday. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Rio Tinto in a report on Wednesday, October 8th. Finally, Zacks Research raised Rio Tinto from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 6th. Three investment analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Rio Tinto presently has a consensus rating of “Moderate Buy” and an average target price of $73.00.

About Rio Tinto

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.