Kathmere Capital Management LLC Takes $396,000 Position in Rio Tinto PLC $RIO

Kathmere Capital Management LLC bought a new position in shares of Rio Tinto PLC (NYSE:RIO) during the third quarter, according to the company in its most recent disclosure with the SEC. The firm bought 5,995 shares of the mining company’s stock, valued at approximately $396,000.

Several other hedge funds also recently made changes to their positions in the company. Salomon & Ludwin LLC raised its position in shares of Rio Tinto by 62.2% during the 3rd quarter. Salomon & Ludwin LLC now owns 472 shares of the mining company’s stock valued at $31,000 after acquiring an additional 181 shares in the last quarter. Pinpoint Asset Management Singapore Pte. Ltd. bought a new stake in Rio Tinto during the second quarter valued at $38,000. MTM Investment Management LLC bought a new stake in Rio Tinto during the second quarter valued at $43,000. Hilltop National Bank acquired a new stake in shares of Rio Tinto during the second quarter worth $44,000. Finally, Wealth Preservation Advisors LLC bought a new position in shares of Rio Tinto in the 2nd quarter worth about $53,000. Institutional investors and hedge funds own 19.33% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on RIO. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Rio Tinto in a research report on Monday, December 29th. Royal Bank Of Canada reissued a “sector perform” rating on shares of Rio Tinto in a report on Monday, December 1st. Citigroup restated a “hold” rating on shares of Rio Tinto in a research report on Monday, November 17th. Zacks Research raised shares of Rio Tinto from a “hold” rating to a “strong-buy” rating in a report on Monday, December 29th. Finally, Argus lifted their price objective on shares of Rio Tinto from $70.00 to $85.00 and gave the company a “buy” rating in a research report on Thursday, December 11th. Three investment analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $85.00.

Rio Tinto Trading Down 0.4%

NYSE:RIO opened at $84.89 on Thursday. 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 1 year low of $51.67 and a 1 year high of $85.46. The business has a fifty day moving average of $74.75 and a 200-day moving average of $67.14.

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.