Marathon Capital Management Purchases New Stake in Rio Tinto PLC $RIO

Marathon Capital Management acquired a new position in shares of Rio Tinto PLC (NYSE:RIO) in the 2nd quarter, Holdings Channel.com reports. The firm acquired 6,615 shares of the mining company’s stock, valued at approximately $386,000.

A number of other large investors also recently added to or reduced their stakes in the business. Live Oak Investment Partners grew its position in shares of Rio Tinto by 0.8% during the 2nd quarter. Live Oak Investment Partners now owns 19,812 shares of the mining company’s stock worth $1,156,000 after buying an additional 162 shares during the period. AE Wealth Management LLC lifted its stake in shares of Rio Tinto by 2.4% in the 2nd quarter. AE Wealth Management LLC now owns 9,613 shares of the mining company’s stock valued at $561,000 after purchasing an additional 223 shares during the period. Grove Bank & Trust boosted its position 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 worth $66,000 after purchasing an additional 224 shares during the last quarter. Kingsview Wealth Management LLC grew its stake in shares of Rio Tinto by 4.3% during the second quarter. Kingsview Wealth Management LLC now owns 5,538 shares of the mining company’s stock worth $323,000 after purchasing an additional 229 shares during the period. Finally, Atria Wealth Solutions Inc. increased its holdings in Rio Tinto by 6.8% in the first quarter. Atria Wealth Solutions Inc. now owns 3,784 shares of the mining company’s stock valued at $229,000 after purchasing an additional 241 shares during the last quarter. 19.33% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Morgan Stanley restated an “overweight” rating on shares of Rio Tinto in a report on Wednesday, October 8th. Citigroup reissued a “hold” rating on shares of Rio Tinto in a research note on Monday, November 17th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Rio Tinto in a research note on Monday. Royal Bank Of Canada reissued a “sector perform” rating on shares of Rio Tinto in a research report on Monday, December 1st. Finally, Zacks Research cut shares of Rio Tinto from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 19th. Two investment analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $73.00.

Rio Tinto Price Performance

Shares of NYSE:RIO opened at $76.18 on Thursday. The company’s 50-day moving average price is $70.21 and its two-hundred day moving average price is $64.19. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.53 and a quick ratio of 1.03. Rio Tinto PLC has a one year low of $51.67 and a one year high of $76.33.

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.