Callan Family Office LLC Decreases Holdings in Rio Tinto PLC $RIO

Callan Family Office LLC trimmed its holdings in shares of Rio Tinto PLC (NYSE:RIO) by 14.7% during the third quarter, HoldingsChannel reports. The firm owned 36,665 shares of the mining company’s stock after selling 6,295 shares during the quarter. Callan Family Office LLC’s holdings in Rio Tinto were worth $2,420,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently added to or reduced their stakes in the stock. Fisher Asset Management LLC raised its position in Rio Tinto by 4.2% in the second quarter. Fisher Asset Management LLC now owns 18,562,934 shares of the mining company’s stock worth $1,082,776,000 after acquiring an additional 752,505 shares during the period. Franklin Resources Inc. increased its stake in shares of Rio Tinto by 0.4% during the 2nd quarter. Franklin Resources Inc. now owns 5,496,126 shares of the mining company’s stock worth $320,589,000 after purchasing an additional 20,138 shares during the last quarter. Bank of America Corp DE raised its holdings in shares of Rio Tinto by 5.7% in the 2nd quarter. Bank of America Corp DE now owns 2,393,759 shares of the mining company’s stock worth $139,628,000 after purchasing an additional 130,132 shares during the period. Bank of Montreal Can lifted its stake in Rio Tinto by 71.7% in the second 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 during the last quarter. Finally, Grantham Mayo Van Otterloo & Co. LLC lifted its stake in Rio Tinto by 20.0% in the second quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 926,483 shares of the mining company’s stock valued at $54,042,000 after purchasing an additional 154,407 shares during the last quarter. Institutional investors own 19.33% of the company’s stock.

Rio Tinto Trading Up 0.1%

Shares of NYSE RIO opened at $96.43 on Thursday. 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 52 week low of $51.67 and a 52 week high of $98.60. The business has a 50-day simple moving average of $82.13 and a two-hundred day simple moving average of $71.31.

Wall Street Analysts Forecast Growth

RIO has been the subject of a number of recent research reports. Erste Group Bank raised Rio Tinto from a “hold” rating to a “buy” rating in a research report on Friday, January 23rd. Weiss Ratings reissued a “hold (c+)” rating on shares of Rio Tinto in a report on Monday, December 29th. Argus upped their price objective on shares of Rio Tinto from $70.00 to $85.00 and gave the company a “buy” rating in a report on Thursday, December 11th. Morgan Stanley lowered shares of Rio Tinto from an “overweight” rating to an “equal weight” rating in a research report on Wednesday, January 28th. Finally, Hsbc Global Res lowered shares of Rio Tinto from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 26th. Three investment analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and nine have given a Hold rating to the company. Based on data from MarketBeat.com, Rio Tinto presently has a consensus rating of “Moderate Buy” and a consensus target price of $85.00.

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.