Riverview Capital Advisers LLC Has $1.26 Million Stake in Rio Tinto PLC $RIO

Riverview Capital Advisers LLC lowered its holdings in Rio Tinto PLC (NYSE:RIO) by 36.9% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 21,623 shares of the mining company’s stock after selling 12,654 shares during the period. Riverview Capital Advisers LLC’s holdings in Rio Tinto were worth $1,261,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in RIO. Kingstone Capital Partners Texas LLC acquired a new stake in shares of Rio Tinto in the second quarter valued at approximately $292,770,000. Bank of Montreal Can increased its stake in Rio Tinto by 71.7% during the 2nd quarter. Bank of Montreal Can now owns 1,855,607 shares of the mining company’s stock worth $108,238,000 after acquiring an additional 774,851 shares during the period. Fisher Asset Management LLC increased its stake in Rio Tinto by 4.2% during the 2nd quarter. Fisher Asset Management LLC now owns 18,562,934 shares of the mining company’s stock worth $1,082,776,000 after acquiring an additional 752,505 shares during the period. Dimensional Fund Advisors LP raised its holdings in Rio Tinto by 33.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,938,247 shares of the mining company’s stock valued at $116,510,000 after acquiring an additional 490,357 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its position in shares of Rio Tinto by 4.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 8,368,620 shares of the mining company’s stock valued at $502,787,000 after acquiring an additional 326,661 shares during the period. 19.33% of the stock is owned by institutional investors.

Rio Tinto Stock Down 0.0%

Shares of RIO stock opened at $71.94 on Tuesday. The business’s 50 day simple moving average is $68.99 and its 200 day simple moving average is $63.62. The company has a current ratio of 1.53, a quick ratio of 1.03 and a debt-to-equity ratio of 0.37. Rio Tinto PLC has a one year low of $51.67 and a one year high of $73.76.

Analyst Ratings Changes

RIO has been the topic of a number of recent analyst reports. Royal Bank Of Canada restated a “sector perform” rating on shares of Rio Tinto in a research report on Monday. Citigroup reissued a “hold” rating on shares of Rio Tinto in a report on Monday, November 17th. Zacks Research cut shares of Rio Tinto from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 19th. Morgan Stanley reaffirmed an “overweight” rating on shares of Rio Tinto in a report on Wednesday, October 8th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Rio Tinto in a research note on Wednesday, October 8th. Two investment analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and seven have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $73.00.

About Rio Tinto

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.