Atlantic Union Bankshares Corp Purchases Shares of 4,390 Rio Tinto PLC $RIO

Atlantic Union Bankshares Corp acquired a new stake in Rio Tinto PLC (NYSE:RIO) during the second quarter, Holdings Channel.com reports. The institutional investor acquired 4,390 shares of the mining company’s stock, valued at approximately $256,000.

Other institutional investors also recently modified their holdings of the company. Concurrent Investment Advisors LLC raised its position in Rio Tinto by 12.0% during the 1st quarter. Concurrent Investment Advisors LLC now owns 4,297 shares of the mining company’s stock valued at $258,000 after purchasing an additional 459 shares during the last quarter. Stratos Wealth Partners LTD. raised its holdings in shares of Rio Tinto by 3.1% during the first quarter. Stratos Wealth Partners LTD. now owns 12,903 shares of the mining company’s stock valued at $775,000 after acquiring an additional 388 shares in the last quarter. Cerity Partners LLC raised its holdings in shares of Rio Tinto by 35.4% during the first quarter. Cerity Partners LLC now owns 75,984 shares of the mining company’s stock valued at $4,567,000 after acquiring an additional 19,875 shares in the last quarter. Kathmere Capital Management LLC lifted its stake in Rio Tinto by 46.7% in the first quarter. Kathmere Capital Management LLC now owns 5,199 shares of the mining company’s stock worth $312,000 after acquiring an additional 1,655 shares during the period. Finally, Stephens Inc. AR boosted its holdings in Rio Tinto by 43.5% in the first quarter. Stephens Inc. AR now owns 79,873 shares of the mining company’s stock valued at $4,799,000 after acquiring an additional 24,200 shares in the last quarter. 19.33% of the stock is currently owned by hedge funds and other institutional investors.

Rio Tinto Stock Performance

Shares of RIO opened at $69.36 on Monday. Rio Tinto PLC has a twelve month low of $51.67 and a twelve month high of $73.76. The firm has a 50 day moving average of $66.44 and a 200 day moving average of $62.47. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.53 and a quick ratio of 1.03.

Analyst Ratings Changes

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

Rio Tinto 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.