Rockefeller Capital Management L.P. Grows Stock Position in Rio Tinto PLC $RIO

Rockefeller Capital Management L.P. boosted its holdings in Rio Tinto PLC (NYSE:RIO) by 33.2% during the fourth quarter, HoldingsChannel reports. The fund owned 130,864 shares of the mining company’s stock after buying an additional 32,604 shares during the period. Rockefeller Capital Management L.P.’s holdings in Rio Tinto were worth $10,473,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the business. Glen Eagle Advisors LLC raised its position in Rio Tinto by 32.2% in the fourth quarter. Glen Eagle Advisors LLC now owns 452 shares of the mining company’s stock valued at $36,000 after purchasing an additional 110 shares during the period. Wealth Quarterback LLC grew its holdings in shares of Rio Tinto by 1.8% during the 4th quarter. Wealth Quarterback LLC now owns 6,532 shares of the mining company’s stock worth $523,000 after purchasing an additional 118 shares during the period. Americana Partners LLC grew its holdings in shares of Rio Tinto by 0.8% during the 4th quarter. Americana Partners LLC now owns 16,108 shares of the mining company’s stock worth $1,289,000 after purchasing an additional 120 shares during the period. Cary Street Partners Investment Advisory LLC increased its position in shares of Rio Tinto by 19.1% during the 4th quarter. Cary Street Partners Investment Advisory LLC now owns 772 shares of the mining company’s stock worth $62,000 after purchasing an additional 124 shares during the last quarter. Finally, Bailard Inc. increased its position in shares of Rio Tinto by 1.1% during the 4th quarter. Bailard Inc. now owns 12,306 shares of the mining company’s stock worth $985,000 after purchasing an additional 128 shares during the last quarter. 19.33% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

RIO has been the topic of a number of recent analyst reports. DZ Bank raised shares of Rio Tinto from a “hold” rating to a “strong-buy” rating in a research report on Friday, May 29th. JPMorgan Chase & Co. cut shares of Rio Tinto from an “overweight” rating to a “neutral” rating in a research report on Monday, March 9th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating on shares of Rio Tinto in a research report on Friday, May 15th. Royal Bank Of Canada downgraded shares of Rio Tinto from a “sector perform” rating to an “underperform” rating in a research note on Wednesday, June 3rd. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Rio Tinto in a report on Wednesday, May 20th. One investment 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 assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $101.75.

Rio Tinto Stock Down 1.7%

Shares of NYSE RIO opened at $93.98 on Thursday. The company has a quick ratio of 0.98, a current ratio of 1.44 and a debt-to-equity ratio of 0.33. Rio Tinto PLC has a twelve month low of $56.20 and a twelve month high of $112.58. The stock has a fifty day simple moving average of $102.84 and a 200-day simple moving average of $93.73.

Rio Tinto News Summary

Here are the key news stories impacting Rio Tinto this week:

• Positive Sentiment: Rio Tinto said its lithium business could become its fastest-growing division as it works to triple output by 2028, reinforcing its exposure to EV and battery-storage demand. Rio Tinto sees lithium as fastest-growing division, executive says
• Positive Sentiment: Rio Tinto, BHP, and Caterpillar launched battery-electric haul truck trials in the Pilbara, a sign the company is pushing to lower costs and emissions across its iron ore operations. BHP, Rio Tinto, and Caterpillar launch battery-electric haul truck trial in the Pilbara
• Neutral Sentiment: Several articles compared Rio Tinto with peer BHP and the broader basic materials sector, but these were mostly valuation and performance check-ins rather than new company-specific catalysts. Is Rio Tinto (RIO) Stock Outpacing Its Basic Materials Peers This Year?
• Neutral Sentiment: Additional coverage on electric truck testing in the Pilbara reinforces the same operational theme, but does not appear to add materially new information. BHP and Rio Tinto test Caterpillar’s electric haul trucks in Pilbara

Rio Tinto Profile

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.