Opal Capital LLC Buys 5,665 Shares of Rio Tinto PLC $RIO

Opal Capital LLC boosted its stake in Rio Tinto PLC (NYSE:RIO) by 14.0% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 46,041 shares of the mining company’s stock after buying an additional 5,665 shares during the period. Opal Capital LLC’s holdings in Rio Tinto were worth $4,295,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of RIO. Arrowstreet Capital Limited Partnership raised its stake in Rio Tinto by 170.8% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 3,886,335 shares of the mining company’s stock worth $311,023,000 after acquiring an additional 2,451,140 shares in the last quarter. Milford Funds Ltd. acquired a new stake in shares of Rio Tinto in the 4th quarter valued at $93,143,000. Deutsche Bank AG grew its holdings in shares of Rio Tinto by 102.6% in the 4th quarter. Deutsche Bank AG now owns 2,216,935 shares of the mining company’s stock worth $177,421,000 after purchasing an additional 1,122,667 shares during the last quarter. Natixis Advisors LLC grew its holdings in shares of Rio Tinto by 144.7% in the 4th quarter. Natixis Advisors LLC now owns 1,587,387 shares of the mining company’s stock worth $127,039,000 after purchasing an additional 938,687 shares during the last quarter. Finally, Renaissance Technologies LLC grew its holdings in shares of Rio Tinto by 417.6% in the 1st quarter. Renaissance Technologies LLC now owns 965,800 shares of the mining company’s stock worth $90,099,000 after purchasing an additional 779,200 shares during the last quarter. 19.33% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

RIO has been the subject of several analyst reports. Citigroup reissued a “neutral” rating on shares of Rio Tinto in a report on Thursday, July 9th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Rio Tinto in a research note on Wednesday, May 20th. DZ Bank raised shares of Rio Tinto from a “hold” rating to a “strong-buy” rating in a report on Friday, May 29th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating on shares of Rio Tinto in a report on Friday, May 15th. Finally, Royal Bank Of Canada downgraded Rio Tinto from a “sector perform” rating to an “underperform” rating in a report on Wednesday, June 3rd. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, seven have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Rio Tinto presently has an average rating of “Hold” and an average price target of $101.75.

Rio Tinto Trading Down 0.4%

Shares of RIO stock opened at $91.61 on Wednesday. Rio Tinto PLC has a 52 week low of $58.40 and a 52 week high of $112.58. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.98 and a current ratio of 1.44. The stock’s fifty day moving average is $98.03 and its 200-day moving average is $95.95.

Rio Tinto (NYSE:RIO) last released its quarterly earnings results on Tuesday, July 28th. The mining company reported $2.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.09 by ($2.06). The company had revenue of $15.51 billion during the quarter, compared to analyst estimates of $31.62 billion. As a group, sell-side analysts forecast that Rio Tinto PLC will post 8.48 EPS for the current year.

Rio Tinto News Summary

Here are the key news stories impacting Rio Tinto this week:

• Positive Sentiment: Rio Tinto reported a significant improvement in first-half performance, with underlying EBITDA up 28% and free cash flow up 75%, helped by favorable commodity prices and operating improvements. Rio Tinto: Step-change in performance delivering higher shareholder returns
• Positive Sentiment: Copper-equivalent production increased 3%, while Copper, Aluminium and Lithium accounted for more than half of the portfolio, reinforcing Rio Tinto’s exposure to energy-transition commodities and improving diversification. Rio Tinto: Step-change in performance delivering higher shareholder returns
• Positive Sentiment: Analysts expected first-half earnings and the interim dividend to rise, and several investor commentaries continued to identify Rio Tinto as a buy or income-oriented holding. This may provide underlying support for the shares. Rio Tinto’s First-Half Earnings, Dividend Expected to Rise
• Neutral Sentiment: Rio Tinto and Western Australia signed non-binding agreements to sell their joint-venture interests in the Dampier Seawater Desalination Plant to Yindjibarndi WaterCo. The proposed $1.1 billion transaction could generate cash and strengthen Indigenous partnerships, although completion remains subject to further conditions. Desalination Plant Proposed Sale
• Neutral Sentiment: A proposed Canadian settlement notice relates to litigation involving Rio Tinto and former Turquoise Hill executives. The financial impact is not specified, leaving the near-term stock effect uncertain. TRQ Securities Class Action Proposed Settlement

Rio Tinto 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.