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

TrueMark Investments LLC grew its holdings in Rio Tinto PLC (NYSE:RIO) by 14.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 46,041 shares of the mining company’s stock after buying an additional 5,665 shares during the period. TrueMark Investments LLC’s holdings in Rio Tinto were worth $4,295,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in RIO. RFG Advisory LLC raised its stake 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 acquiring an additional 2,698 shares during the period. Keudell Morrison Wealth Management bought a new position in Rio Tinto during the first quarter worth $257,000. CENTRAL TRUST Co boosted its position in Rio Tinto by 53.6% during the first quarter. CENTRAL TRUST Co now owns 6,994 shares of the mining company’s stock worth $655,000 after purchasing an additional 2,442 shares during the period. Riverbridge Partners LLC acquired a new position in shares of Rio Tinto in the first quarter valued at $213,000. Finally, HHM Wealth Advisors LLC increased its holdings in shares of Rio Tinto by 42.1% in the first quarter. HHM Wealth Advisors LLC now owns 1,349 shares of the mining company’s stock valued at $126,000 after purchasing an additional 400 shares during the last quarter. 19.33% of the stock is currently owned by institutional investors.

Trending Headlines about Rio Tinto

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 Stock Down 1.7%

Shares of RIO opened at $93.98 on Thursday. Rio Tinto PLC has a 12 month low of $56.20 and a 12 month high of $112.58. The firm’s 50 day moving average is $102.84 and its 200-day moving average is $93.73. 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 Ratings Changes

A number of research firms have recently issued reports on RIO. Zacks Research cut shares of Rio Tinto from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 7th. Bank of America lowered shares of Rio Tinto from a “buy” rating to a “neutral” rating in a research note on Friday, May 22nd. DZ Bank upgraded shares of Rio Tinto from a “hold” rating to a “strong-buy” rating in a research note on Friday, May 29th. Royal Bank Of Canada cut shares of Rio Tinto from a “sector perform” rating to an “underperform” rating in a report on Wednesday, June 3rd. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating on shares of Rio Tinto in a report on Friday, May 15th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $101.75.

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.