Quantbot Technologies LP Cuts Holdings in Rio Tinto PLC $RIO

Quantbot Technologies LP lowered its position in shares of Rio Tinto PLC (NYSE:RIO) by 15.6% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 55,902 shares of the mining company’s stock after selling 10,358 shares during the quarter. Quantbot Technologies LP’s holdings in Rio Tinto were worth $3,261,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Kingstone Capital Partners Texas LLC bought a new stake in Rio Tinto during the second quarter worth $292,770,000. Bank of Montreal Can increased its position in shares of Rio Tinto by 71.7% during the 2nd quarter. Bank of Montreal Can now owns 1,855,607 shares of the mining company’s stock valued at $108,238,000 after purchasing an additional 774,851 shares during the last quarter. Fisher Asset Management LLC raised its stake in shares of Rio Tinto by 4.2% during the 2nd quarter. Fisher Asset Management LLC now owns 18,562,934 shares of the mining company’s stock worth $1,082,776,000 after purchasing an additional 752,505 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Rio Tinto by 33.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,938,247 shares of the mining company’s stock worth $116,510,000 after purchasing an additional 490,357 shares during the period. Finally, Goldman Sachs Group Inc. boosted its holdings in shares of Rio Tinto by 4.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 8,368,620 shares of the mining company’s stock worth $502,787,000 after buying an additional 326,661 shares during the last quarter. 19.33% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the stock. Zacks Research downgraded shares of Rio Tinto from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 19th. Morgan Stanley restated an “overweight” rating on shares of Rio Tinto in a research note on Wednesday, October 8th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Rio Tinto in a report on Monday. Citigroup reiterated a “hold” rating on shares of Rio Tinto in a research note on Monday, November 17th. Finally, Royal Bank Of Canada reissued a “sector perform” rating on shares of Rio Tinto in a research report on Monday. Two research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $73.00.

Rio Tinto Stock Down 0.7%

Shares of RIO stock opened at $73.76 on Friday. The firm’s 50 day moving average is $69.54 and its 200 day moving average is $63.83. Rio Tinto PLC has a 12 month low of $51.67 and a 12 month high of $74.53. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.03 and a current ratio of 1.53.

Rio Tinto Company 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.