Evelyn Partners Asset Management Ltd Boosts Stock Position in Rio Tinto PLC $RIO

Evelyn Partners Asset Management Ltd boosted its position in Rio Tinto PLC (NYSE:RIO) by 7,163.3% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 15,616 shares of the mining company’s stock after purchasing an additional 15,401 shares during the quarter. Evelyn Partners Asset Management Ltd’s holdings in Rio Tinto were worth $911,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Pandora Wealth Inc. purchased a new position in shares of Rio Tinto in the 1st quarter worth approximately $30,000. MTM Investment Management LLC acquired a new stake in Rio Tinto in the second quarter valued at approximately $43,000. Hilltop National Bank purchased a new position in Rio Tinto in the second quarter worth $44,000. Resources Management Corp CT ADV acquired a new position in shares of Rio Tinto during the first quarter worth $48,000. Finally, Cary Street Partners Investment Advisory LLC increased its position in shares of 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 worth $51,000 after purchasing an additional 336 shares in the last quarter. 19.33% of the stock is owned by hedge funds and other institutional investors.

Rio Tinto Price Performance

Shares of NYSE:RIO opened at $69.96 on Friday. Rio Tinto PLC has a 52-week low of $51.67 and a 52-week high of $73.76. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.03 and a current ratio of 1.53. The business has a 50-day moving average price of $67.95 and a 200-day moving average price of $63.13.

Analyst Ratings Changes

RIO has been the subject of a number of recent analyst reports. Morgan Stanley reissued an “overweight” rating on shares of Rio Tinto in a research report on Wednesday, October 8th. Citigroup reissued a “hold” rating on shares of Rio Tinto in a report on Monday. Weiss Ratings restated a “hold (c)” rating on shares of Rio Tinto in a research note on Wednesday, October 8th. Deutsche Bank Aktiengesellschaft downgraded shares of Rio Tinto from a “buy” rating to a “hold” rating in a report on Wednesday, July 30th. Finally, Zacks Research cut shares of Rio Tinto from a “strong-buy” rating to a “hold” rating in a research note on Wednesday. Two investment analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average 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.