EagleClaw Capital Managment LLC Sells 1,350 Shares of Rio Tinto PLC $RIO

EagleClaw Capital Managment LLC cut its holdings in shares of Rio Tinto PLC (NYSE:RIO) by 2.5% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 52,130 shares of the mining company’s stock after selling 1,350 shares during the quarter. EagleClaw Capital Managment LLC’s holdings in Rio Tinto were worth $3,041,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Bailard Inc. increased its holdings in Rio Tinto by 3.2% during the second quarter. Bailard Inc. now owns 13,718 shares of the mining company’s stock worth $800,000 after buying an additional 424 shares during the last quarter. ABC Arbitrage SA grew its position in shares of Rio Tinto by 42.3% during the 2nd quarter. ABC Arbitrage SA now owns 398,115 shares of the mining company’s stock valued at $23,222,000 after acquiring an additional 118,428 shares during the period. PNC Financial Services Group Inc. increased its stake in shares of Rio Tinto by 1.7% during the 2nd quarter. PNC Financial Services Group Inc. now owns 52,467 shares of the mining company’s stock worth $3,060,000 after purchasing an additional 877 shares during the last quarter. Wealth Quarterback LLC bought a new stake in shares of Rio Tinto in the 2nd quarter worth approximately $263,000. Finally, SBI Securities Co. Ltd. lifted its stake in Rio Tinto by 3.8% in the second quarter. SBI Securities Co. Ltd. now owns 43,844 shares of the mining company’s stock valued at $2,557,000 after purchasing an additional 1,602 shares during the last quarter. 19.33% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have issued reports on RIO. Morgan Stanley reissued an “overweight” rating on shares of Rio Tinto in a research report on Wednesday, October 8th. Deutsche Bank Aktiengesellschaft downgraded Rio Tinto from a “buy” rating to a “hold” rating in a research note on Wednesday, July 30th. Zacks Research upgraded Rio Tinto from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 6th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Rio Tinto in a 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 MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $73.00.

Rio Tinto Price Performance

NYSE:RIO opened at $71.08 on Thursday. The business’s fifty day moving average is $66.93 and its 200 day moving average is $62.66. 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 52-week low of $51.67 and a 52-week high of $73.76.

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.