Hunter Associates Investment Management LLC Reduces Stock Holdings in Rio Tinto PLC $RIO

Hunter Associates Investment Management LLC trimmed its position in shares of Rio Tinto PLC (NYSE:RIO) by 51.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 6,100 shares of the mining company’s stock after selling 6,400 shares during the period. Hunter Associates Investment Management LLC’s holdings in Rio Tinto were worth $569,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also bought and sold shares of the company. AdvisorNet Financial Inc grew its stake in shares of Rio Tinto by 160.2% during the 1st quarter. AdvisorNet Financial Inc now owns 294 shares of the mining company’s stock worth $27,000 after acquiring an additional 181 shares during the period. PFS Partners LLC purchased a new stake in Rio Tinto in the 4th quarter worth about $28,000. Nvest Wealth Strategies Inc. bought a new stake in Rio Tinto in the 4th quarter valued at about $28,000. Trust Co. of Toledo NA OH bought a new stake in Rio Tinto in the 4th quarter valued at about $34,000. Finally, Evelyn Partners Investment Management LLP purchased a new stake in Rio Tinto during the fourth quarter valued at about $34,000. 19.33% of the stock is owned by hedge funds and other institutional investors.

Rio Tinto Stock Up 0.0%

Shares of RIO opened at $94.44 on Monday. Rio Tinto PLC has a twelve month low of $57.65 and a twelve month high of $112.58. The company has a current ratio of 1.44, a quick ratio of 0.98 and a debt-to-equity ratio of 0.33. The business’s 50-day moving average price is $102.14 and its 200-day moving average price is $94.69.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on RIO. Royal Bank Of Canada lowered shares of Rio Tinto from a “sector perform” rating to an “underperform” rating in a research report on Wednesday, June 3rd. Weiss Ratings restated a “buy (b-)” rating on shares of Rio Tinto in a research note on Wednesday, May 20th. JPMorgan Chase & Co. downgraded shares of Rio Tinto from an “overweight” rating to a “neutral” rating in a report on Monday, March 9th. Zacks Research cut shares of Rio Tinto from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 7th. Finally, Bank of America downgraded Rio Tinto from a “buy” rating to a “neutral” rating in a research report on Friday, May 22nd. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price 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.