Titan Wealth CI Ltd Invests $676,000 in Rio Tinto PLC $RIO

Titan Wealth CI Ltd bought a new stake in shares of Rio Tinto PLC (NYSE:RIO) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 8,450 shares of the mining company’s stock, valued at approximately $676,000.

Several other institutional investors have also bought and sold shares of RIO. PFS Partners LLC purchased a new stake in shares of Rio Tinto in the fourth quarter valued at about $28,000. Nvest Wealth Strategies Inc. bought a new position in shares of Rio Tinto during the fourth quarter valued at about $28,000. Trust Co. of Toledo NA OH purchased a new position in Rio Tinto during the fourth quarter worth about $34,000. Evelyn Partners Investment Management LLP purchased a new position in Rio Tinto during the fourth quarter worth about $34,000. Finally, Glen Eagle Advisors LLC grew its position in Rio Tinto by 32.2% in the 4th quarter. Glen Eagle Advisors LLC now owns 452 shares of the mining company’s stock worth $36,000 after purchasing an additional 110 shares in the last quarter. Institutional investors own 19.33% of the company’s stock.

Rio Tinto Stock Performance

NYSE RIO opened at $105.73 on Wednesday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.98 and a current ratio of 1.44. Rio Tinto PLC has a 52-week low of $55.64 and a 52-week high of $112.58. The company has a 50-day simple moving average of $102.63 and a 200 day simple moving average of $92.64.

Analysts Set New Price Targets

RIO has been the subject of several analyst reports. Sanford C. Bernstein increased their price objective on shares of Rio Tinto from $82.00 to $83.50 and gave the company an “outperform” rating in a research note on Monday, April 27th. Bank of America downgraded Rio Tinto from a “buy” rating to a “neutral” rating in a research note on Friday, May 22nd. Argus set a $120.00 price target on Rio Tinto in a research report on Monday, April 27th. Barclays lowered Rio Tinto from an “overweight” rating to an “equal weight” rating in a report on Tuesday, February 24th. Finally, Citigroup reissued a “neutral” rating on shares of Rio Tinto in a research report on Tuesday, May 26th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $101.75.

About Rio Tinto

Rio Tinto is a global mining and metals company that explores for, mines, processes and markets a wide range of commodities. Its principal products include iron ore, aluminum, copper, diamonds and various other minerals and industrial materials. The company’s activities span the full value chain from exploration and project development to mining, processing, smelting and refining, supplying raw materials to industries such as steelmaking, automotive, packaging, electronics and construction.

The origins of Rio Tinto date back to mining operations in the Rio Tinto region of Spain in the 19th century, and the group has since grown into a multinational enterprise.