Eagle Strategies LLC Sells 1,134 Shares of Rio Tinto PLC (NYSE:RIO)

Eagle Strategies LLC decreased its stake in shares of Rio Tinto PLC (NYSE:RIO) by 18.1% in the 1st quarter, Holdings Channel reports. The fund owned 5,135 shares of the mining company’s stock after selling 1,134 shares during the quarter. Eagle Strategies LLC’s holdings in Rio Tinto were worth $309,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. XTX Topco Ltd bought a new stake in shares of Rio Tinto during the fourth quarter worth $1,241,000. Rossby Financial LCC bought a new position in Rio Tinto in the fourth quarter valued at $360,000. Farther Finance Advisors LLC grew its position in Rio Tinto by 24.2% in the first quarter. Farther Finance Advisors LLC now owns 4,023 shares of the mining company’s stock valued at $242,000 after purchasing an additional 785 shares in the last quarter. Schroder Investment Management Group grew its position in Rio Tinto by 3.2% in the fourth quarter. Schroder Investment Management Group now owns 32,258 shares of the mining company’s stock valued at $1,890,000 after purchasing an additional 1,009 shares in the last quarter. Finally, Norges Bank bought a new position in Rio Tinto in the fourth quarter valued at $432,000. Institutional investors own 19.33% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on RIO shares. Clarkson Capital raised shares of Rio Tinto to a “strong-buy” rating in a research report on Friday, February 28th. Jefferies Financial Group reaffirmed a “hold” rating on shares of Rio Tinto in a research report on Tuesday, June 3rd. Wall Street Zen downgraded shares of Rio Tinto from a “strong-buy” rating to a “buy” rating in a research report on Monday, April 28th. Morgan Stanley downgraded shares of Rio Tinto from an “overweight” rating to an “equal weight” rating in a research report on Wednesday, April 9th. Finally, Barclays reaffirmed an “overweight” rating on shares of Rio Tinto in a research report on Wednesday, April 16th. Four analysts have rated the stock with a hold rating, five have given a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat, Rio Tinto currently has a consensus rating of “Moderate Buy” and a consensus target price of $73.00.

Rio Tinto Stock Performance

Shares of RIO opened at $57.09 on Tuesday. The firm has a 50-day moving average of $59.66 and a 200-day moving average of $60.31. Rio Tinto PLC has a one year low of $51.67 and a one year high of $72.08. The company has a market cap of $71.59 billion, a PE ratio of 8.85 and a beta of 0.68. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.63 and a quick ratio of 1.13.

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.