Sei Investments Co. Grows Position in Rio Tinto PLC $RIO

Sei Investments Co. boosted its position in Rio Tinto PLC (NYSE:RIO) by 1.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 564,191 shares of the mining company’s stock after acquiring an additional 6,407 shares during the quarter. Sei Investments Co.’s holdings in Rio Tinto were worth $52,635,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Lido Advisors LLC grew its holdings in Rio Tinto by 4.7% during the 1st quarter. Lido Advisors LLC now owns 48,268 shares of the mining company’s stock worth $4,625,000 after acquiring an additional 2,158 shares in the last quarter. Cetera Investment Advisers raised its holdings in shares of Rio Tinto by 4.7% in the 1st quarter. Cetera Investment Advisers now owns 181,852 shares of the mining company’s stock valued at $16,965,000 after purchasing an additional 8,219 shares in the last quarter. NewEdge Wealth LLC lifted its position in shares of Rio Tinto by 1.0% during the 1st quarter. NewEdge Wealth LLC now owns 48,249 shares of the mining company’s stock worth $4,501,000 after purchasing an additional 501 shares during the last quarter. Saturna Capital Corp lifted its position in shares of Rio Tinto by 0.8% during the 1st quarter. Saturna Capital Corp now owns 107,264 shares of the mining company’s stock worth $10,007,000 after purchasing an additional 835 shares during the last quarter. Finally, Barometer Capital Management Inc. acquired a new position in shares of Rio Tinto during the first quarter worth $2,015,000. Hedge funds and other institutional investors own 19.33% of the company’s stock.

Rio Tinto Trading Down 0.3%

Shares of NYSE:RIO opened at $91.25 on Friday. Rio Tinto PLC has a fifty-two week low of $58.40 and a fifty-two week high of $112.58. The firm’s 50-day simple moving average is $98.44 and its 200-day simple moving average is $95.77. The company has a quick ratio of 0.98, a current ratio of 1.44 and a debt-to-equity ratio of 0.33.

Analyst Upgrades and Downgrades

RIO has been the topic of several recent analyst reports. Zacks Research lowered Rio Tinto from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 7th. Royal Bank Of Canada cut Rio Tinto from a “sector perform” rating to an “underperform” rating in a research report on Wednesday, June 3rd. Argus set a $120.00 price objective on Rio Tinto in a report on Monday, April 27th. Bank of America cut Rio Tinto from a “buy” rating to a “neutral” rating in a research note on Friday, May 22nd. Finally, Citigroup reaffirmed a “neutral” rating on shares of Rio Tinto in a report on Thursday, July 9th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, seven have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, Rio Tinto has a consensus rating of “Hold” and an average price target of $101.75.

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.