Transmarket Holdings LP Sells 22,471 Shares of Rio Tinto PLC $RIO

Transmarket Holdings LP trimmed its position in Rio Tinto PLC (NYSE:RIO) by 51.3% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 21,332 shares of the mining company’s stock after selling 22,471 shares during the quarter. Rio Tinto accounts for 1.1% of Transmarket Holdings LP’s portfolio, making the stock its 18th largest position. Transmarket Holdings LP’s holdings in Rio Tinto were worth $1,990,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of RIO. AdvisorNet Financial Inc boosted its stake in Rio Tinto by 160.2% during the first quarter. AdvisorNet Financial Inc now owns 294 shares of the mining company’s stock worth $27,000 after buying an additional 181 shares in the last quarter. PFS Partners LLC acquired a new position in shares of Rio Tinto in the 4th quarter valued at $28,000. Nvest Wealth Strategies Inc. bought a new position in shares of Rio Tinto during the 4th quarter worth about $28,000. Trust Co. of Toledo NA OH bought a new position in shares of Rio Tinto during the 4th quarter worth about $34,000. Finally, Evelyn Partners Investment Management LLP acquired a new stake in shares of Rio Tinto during the 4th quarter valued at about $34,000. 19.33% of the stock is owned by institutional investors.

Rio Tinto Trading Up 1.7%

RIO opened at $90.54 on Wednesday. The firm’s 50-day simple moving average is $99.44 and its 200-day simple moving average is $95.64. The company has a quick ratio of 0.98, a current ratio of 1.44 and a debt-to-equity ratio of 0.33. Rio Tinto PLC has a twelve month low of $58.40 and a twelve month high of $112.58.

Analyst Ratings Changes

RIO has been the topic of a number of analyst reports. Argus set a $120.00 target price on shares of Rio Tinto in a research note on Monday, April 27th. Bank of America downgraded Rio Tinto from a “buy” rating to a “neutral” rating in a report on Friday, May 22nd. Zacks Research lowered Rio Tinto from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 7th. Royal Bank Of Canada cut Rio Tinto from a “sector perform” rating to an “underperform” rating in a report on Wednesday, June 3rd. Finally, Sanford C. Bernstein raised their target price on Rio Tinto from $82.00 to $83.50 and gave the stock an “outperform” rating in a research report on Monday, April 27th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, seven have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $101.75.

Rio Tinto Company Profile

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.