Astra Wealth Partners LLC Purchases New Holdings in Rio Tinto PLC $RIO

Astra Wealth Partners LLC purchased a new stake in Rio Tinto PLC (NYSE:RIO) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 12,691 shares of the mining company’s stock, valued at approximately $740,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Wayfinding Financial LLC purchased a new position in Rio Tinto in the first quarter valued at about $30,000. Pandora Wealth Inc. purchased a new position in Rio Tinto in the first quarter valued at about $30,000. Hilltop National Bank acquired a new stake in Rio Tinto during the second quarter valued at approximately $44,000. Resources Management Corp CT ADV acquired a new stake in Rio Tinto during the first quarter valued at approximately $48,000. Finally, Cary Street Partners Investment Advisory LLC raised its stake in Rio Tinto by 65.1% during the first quarter. Cary Street Partners Investment Advisory LLC now owns 852 shares of the mining company’s stock valued at $51,000 after buying an additional 336 shares in the last quarter. Hedge funds and other institutional investors own 19.33% of the company’s stock.

Rio Tinto Stock Down 0.4%

Shares of Rio Tinto stock opened at $71.88 on Monday. The company has a current ratio of 1.53, a quick ratio of 1.03 and a debt-to-equity ratio of 0.37. The business’s 50 day simple moving average is $65.76 and its 200-day simple moving average is $62.11. Rio Tinto PLC has a twelve month low of $51.67 and a twelve month high of $73.76.

Wall Street Analyst Weigh In

Several brokerages have issued reports on RIO. Weiss Ratings restated a “hold (c)” rating on shares of Rio Tinto in a research note on Wednesday, October 8th. Deutsche Bank Aktiengesellschaft cut Rio Tinto from a “buy” rating to a “hold” rating in a research note on Wednesday, July 30th. Morgan Stanley restated an “overweight” rating on shares of Rio Tinto in a research note on Wednesday, October 8th. Finally, Zacks Research upgraded Rio Tinto from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 6th. Three analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $73.00.

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.