MQS Management LLC Decreases Holdings in Rio Tinto PLC $RIO

MQS Management LLC lowered its position in Rio Tinto PLC (NYSE:RIO) by 81.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,738 shares of the mining company’s stock after selling 15,917 shares during the quarter. MQS Management LLC’s holdings in Rio Tinto were worth $247,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Cubist Systematic Strategies LLC bought a new stake in shares of Rio Tinto in the 1st quarter worth approximately $84,000. AQR Capital Management LLC raised its position in Rio Tinto by 78.4% in the 1st quarter. AQR Capital Management LLC now owns 12,087 shares of the mining company’s stock worth $726,000 after purchasing an additional 5,310 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Rio Tinto by 20.7% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 11,485 shares of the mining company’s stock worth $690,000 after purchasing an additional 1,968 shares during the last quarter. Empowered Funds LLC lifted its stake in Rio Tinto by 5.8% in the first quarter. Empowered Funds LLC now owns 5,280 shares of the mining company’s stock worth $317,000 after purchasing an additional 288 shares during the last quarter. Finally, Focus Partners Wealth boosted its position in Rio Tinto by 16.7% during the first quarter. Focus Partners Wealth now owns 15,985 shares of the mining company’s stock valued at $962,000 after buying an additional 2,285 shares during the period. 19.33% of the stock is currently owned by institutional investors.

Rio Tinto Price Performance

Shares of RIO stock opened at $98.03 on Friday. The company has a current ratio of 1.53, a quick ratio of 1.03 and a debt-to-equity ratio of 0.37. Rio Tinto PLC has a fifty-two week low of $51.67 and a fifty-two week high of $100.33. The business’s 50 day moving average price is $85.41 and its 200-day moving average price is $72.86.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on RIO shares. Erste Group Bank upgraded Rio Tinto from a “hold” rating to a “buy” rating in a report on Friday, January 23rd. Zacks Research upgraded Rio Tinto from a “hold” rating to a “strong-buy” rating in a research report on Monday, December 29th. Morgan Stanley cut Rio Tinto from an “overweight” rating to an “equal weight” rating in a research note on Wednesday, January 28th. Argus increased their price objective on Rio Tinto from $70.00 to $85.00 and gave the company a “buy” rating in a research note on Thursday, December 11th. Finally, HSBC cut shares of Rio Tinto from a “buy” rating to a “hold” rating in a report on Monday, January 26th. Three investment analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat.com, Rio Tinto has an average rating of “Moderate Buy” and an average target price of $85.00.

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.