TT Capital Management LLC Sells 73,233 Shares of Rio Tinto PLC $RIO

TT Capital Management LLC cut its stake in shares of Rio Tinto PLC (NYSE:RIO) by 95.7% during the third quarter, HoldingsChannel.com reports. The fund owned 3,284 shares of the mining company’s stock after selling 73,233 shares during the quarter. TT Capital Management LLC’s holdings in Rio Tinto were worth $217,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Marshall Wace LLP bought a new position in Rio Tinto in the second quarter worth approximately $49,089,000. Bank of Montreal Can raised its position in Rio Tinto by 71.7% during the 2nd quarter. Bank of Montreal Can now owns 1,855,607 shares of the mining company’s stock valued at $108,238,000 after purchasing an additional 774,851 shares in the last quarter. Fisher Asset Management LLC lifted its holdings in shares of Rio Tinto by 4.2% in the 2nd quarter. Fisher Asset Management LLC now owns 18,562,934 shares of the mining company’s stock worth $1,082,776,000 after buying an additional 752,505 shares during the period. Adage Capital Partners GP L.L.C. grew its position in shares of Rio Tinto by 555.8% during the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 524,602 shares of the mining company’s stock worth $30,600,000 after buying an additional 444,602 shares in the last quarter. Finally, Tower Research Capital LLC TRC increased its stake in shares of Rio Tinto by 198.3% during the second quarter. Tower Research Capital LLC TRC now owns 282,112 shares of the mining company’s stock valued at $16,456,000 after buying an additional 187,544 shares during the period. Institutional investors own 19.33% of the company’s stock.

Rio Tinto Stock Up 0.1%

NYSE:RIO opened at $98.03 on Friday. The company’s 50-day simple moving average is $85.41 and its 200-day simple moving average is $72.93. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.03 and a current ratio of 1.53. Rio Tinto PLC has a fifty-two week low of $51.67 and a fifty-two week high of $100.33.

Analyst Ratings Changes

A number of research firms recently weighed in on RIO. Citigroup raised shares of Rio Tinto to a “hold” rating in a research note on Tuesday, February 10th. Weiss Ratings restated a “hold (c+)” rating on shares of Rio Tinto in a report on Monday, December 29th. HSBC cut shares of Rio Tinto from a “buy” rating to a “hold” rating in a research report on Monday, January 26th. Erste Group Bank raised shares of Rio Tinto from a “hold” rating to a “buy” rating in a report on Friday, January 23rd. Finally, Argus boosted their price objective on shares of Rio Tinto from $70.00 to $85.00 and gave the stock a “buy” rating in a research note on Thursday, December 11th. Three research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and eight have issued a Hold rating to the company’s stock. According to MarketBeat, Rio Tinto presently has a consensus 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.