TrueMark Investments LLC Buys 5,665 Shares of Rio Tinto PLC $RIO

TrueMark Investments LLC boosted its stake in Rio Tinto PLC (NYSE:RIO) by 14.0% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 46,041 shares of the mining company’s stock after purchasing an additional 5,665 shares during the quarter. TrueMark Investments LLC’s holdings in Rio Tinto were worth $4,295,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of RIO. RFG Advisory LLC increased its holdings in Rio Tinto by 12.9% in the 1st quarter. RFG Advisory LLC now owns 23,559 shares of the mining company’s stock valued at $2,198,000 after buying an additional 2,698 shares during the period. Keudell Morrison Wealth Management acquired a new position in shares of Rio Tinto in the 1st quarter valued at approximately $257,000. CENTRAL TRUST Co lifted its holdings in shares of Rio Tinto by 53.6% during the 1st quarter. CENTRAL TRUST Co now owns 6,994 shares of the mining company’s stock worth $655,000 after acquiring an additional 2,442 shares during the period. Riverbridge Partners LLC bought a new stake in shares of Rio Tinto during the 1st quarter worth approximately $213,000. Finally, HHM Wealth Advisors LLC lifted its holdings in shares of Rio Tinto by 42.1% during the 1st quarter. HHM Wealth Advisors LLC now owns 1,349 shares of the mining company’s stock worth $126,000 after acquiring an additional 400 shares during the period. Institutional investors own 19.33% of the company’s stock.

Rio Tinto Trading Down 1.7%

Shares of NYSE:RIO opened at $93.98 on Thursday. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.44 and a quick ratio of 0.98. The firm has a 50 day simple moving average of $102.84 and a 200 day simple moving average of $93.73. Rio Tinto PLC has a one year low of $56.20 and a one year high of $112.58.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on RIO shares. Sanford C. Bernstein lifted 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. Zacks Research cut Rio Tinto from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 7th. Bank of America downgraded Rio Tinto from a “buy” rating to a “neutral” rating in a report on Friday, May 22nd. Citigroup reiterated a “neutral” rating on shares of Rio Tinto in a research note on Tuesday, May 26th. Finally, Royal Bank Of Canada cut Rio Tinto from a “sector perform” rating to an “underperform” rating in a report on Wednesday, June 3rd. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $101.75.

Rio Tinto News Roundup

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 Company 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.