Rockefeller Capital Management L.P. Lowers Stock Holdings in Rio Tinto PLC $RIO

Rockefeller Capital Management L.P. reduced its position in Rio Tinto PLC (NYSE:RIO) by 65.9% in the second quarter, Holdings Channel.com reports. The firm owned 63,093 shares of the mining company’s stock after selling 122,145 shares during the quarter. Rockefeller Capital Management L.P.’s holdings in Rio Tinto were worth $3,680,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of the company. Pandora Wealth Inc. purchased a new position in shares of Rio Tinto during the 1st quarter valued at about $30,000. Hilltop National Bank purchased a new position in shares of Rio Tinto during the second quarter worth approximately $44,000. Resources Management Corp CT ADV bought a new stake in shares of Rio Tinto in the 1st quarter worth approximately $48,000. Cary Street Partners Investment Advisory LLC boosted its stake in shares of Rio Tinto by 65.1% in the 1st quarter. Cary Street Partners Investment Advisory LLC now owns 852 shares of the mining company’s stock valued at $51,000 after purchasing an additional 336 shares in the last quarter. Finally, Grove Bank & Trust boosted its stake in shares of Rio Tinto by 24.5% in the 2nd quarter. Grove Bank & Trust now owns 1,139 shares of the mining company’s stock valued at $66,000 after purchasing an additional 224 shares in the last quarter. 19.33% of the stock is currently owned by institutional investors.

Rio Tinto Stock Up 1.7%

NYSE RIO opened at $69.96 on Friday. Rio Tinto PLC has a 1 year low of $51.67 and a 1 year high of $73.76. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.53 and a quick ratio of 1.03. The business’s 50-day moving average is $67.95 and its 200 day moving average is $63.16.

Analysts Set New Price Targets

A number of equities analysts recently commented on RIO shares. Zacks Research cut shares of Rio Tinto from a “strong-buy” rating to a “hold” rating in a research report on Wednesday. Morgan Stanley reiterated an “overweight” rating on shares of Rio Tinto in a report on Wednesday, October 8th. Weiss Ratings reissued a “hold (c)” rating on shares of Rio Tinto in a research note on Wednesday, October 8th. Deutsche Bank Aktiengesellschaft lowered Rio Tinto from a “buy” rating to a “hold” rating in a research report on Wednesday, July 30th. Finally, Citigroup reaffirmed a “hold” rating on shares of Rio Tinto in a research note on Monday, November 17th. Two investment analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, Rio Tinto has an average rating of “Moderate Buy” and a consensus price target 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.