O Shaughnessy Asset Management LLC Raises Position in Rio Tinto PLC $RIO

O Shaughnessy Asset Management LLC raised its stake in shares of Rio Tinto PLC (NYSE:RIO) by 45.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 164,527 shares of the mining company’s stock after purchasing an additional 51,327 shares during the period. O Shaughnessy Asset Management LLC’s holdings in Rio Tinto were worth $13,167,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. CenterBook Partners LP raised its holdings in shares of Rio Tinto by 148.9% in the fourth quarter. CenterBook Partners LP now owns 9,636 shares of the mining company’s stock worth $771,000 after buying an additional 5,765 shares during the period. Manchester Capital Management LLC raised its holdings in shares of Rio Tinto by 219.2% in the fourth quarter. Manchester Capital Management LLC now owns 1,213 shares of the mining company’s stock worth $97,000 after buying an additional 833 shares during the period. Hilton Head Capital Partners LLC purchased a new stake in shares of Rio Tinto in the fourth quarter worth approximately $42,000. Syon Capital LLC purchased a new stake in shares of Rio Tinto in the fourth quarter worth approximately $362,000. Finally, Capital International Investors purchased a new stake in shares of Rio Tinto in the fourth quarter worth approximately $39,730,000. 19.33% of the stock is currently owned by hedge funds and other institutional investors.

Rio Tinto Trading Up 0.5%

Shares of NYSE:RIO opened at $101.44 on Wednesday. Rio Tinto PLC has a 52-week low of $55.64 and a 52-week high of $112.58. The business’s 50 day moving average is $101.54 and its 200 day moving average is $91.46. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.44 and a quick ratio of 0.98.

Analysts Set New Price Targets

A number of brokerages recently weighed in on RIO. DZ Bank upgraded shares of Rio Tinto from a “hold” rating to a “strong-buy” rating in a report on Friday, May 29th. Citigroup reissued a “neutral” rating on shares of Rio Tinto in a research report on Tuesday, May 26th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Rio Tinto in a research note on Wednesday, May 20th. Bank of America cut Rio Tinto from a “buy” rating to a “neutral” rating in a research note on Friday, May 22nd. Finally, Argus set a $120.00 price objective on Rio Tinto in a research note on Monday, April 27th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Rio Tinto has an average rating of “Hold” and an average target price of $101.75.

Key Rio Tinto News

Here are the key news stories impacting Rio Tinto this week:

• Positive Sentiment: Rio Tinto’s Simandou project is showing early progress, which could be an important long-term growth driver if the massive iron ore development continues to advance. Rio Tinto: Simandou’s First Pulse
• Positive Sentiment: The company boosted annual community investment in Canada by 30% to C$13 million, reinforcing its social license to operate and supporting relationships around key assets. Rio Tinto Canada Fund boosts community investment to C$13 million
• Positive Sentiment: Copper prices have been broadly supported by supply-demand tightness and tariff speculation, which is helping sentiment toward diversified miners like Rio Tinto. Copper Price Rally Fades As Trump Tariff Bets Lose Steam; Mining Stocks Waver
• Neutral Sentiment: A court decision cleared Rio Tinto’s compulsory acquisition of Energy Resources of Australia, removing legal uncertainty, but the direct financial impact appears limited. Court clears Rio Tinto’s compulsory acquisition of Energy Resources of Australia
• Neutral Sentiment: Goldman Sachs maintained a hold rating on Rio Tinto, which signals a cautious near-term view despite the recent positive catalysts. Goldman Sachs Keeps Their Hold Rating on Rio Tinto (RIO)
• Negative Sentiment: One article noted Rio Tinto shares had slipped from recent highs, reflecting some profit-taking and a less enthusiastic short-term setup. Rio Tinto shares slump 7.5% from an all-time high: Buy, sell or hold?

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.