Himension Capital Singapore PTE. LTD. Cuts Position in Rio Tinto PLC $RIO

Himension Capital Singapore PTE. LTD. decreased its stake in Rio Tinto PLC (NYSE:RIO) by 30.7% in the 1st quarter, Holdings Channel reports. The firm owned 60,128 shares of the mining company’s stock after selling 26,699 shares during the quarter. Himension Capital Singapore PTE. LTD.’s holdings in Rio Tinto were worth $5,609,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in RIO. Arrowstreet Capital Limited Partnership increased its holdings in Rio Tinto by 170.8% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 3,886,335 shares of the mining company’s stock valued at $311,023,000 after buying an additional 2,451,140 shares in the last quarter. Milford Funds Ltd. acquired a new stake in shares of Rio Tinto during the 4th quarter valued at approximately $93,143,000. Deutsche Bank AG boosted its stake in shares of Rio Tinto by 102.6% during the 4th quarter. Deutsche Bank AG now owns 2,216,935 shares of the mining company’s stock worth $177,421,000 after acquiring an additional 1,122,667 shares in the last quarter. Natixis Advisors LLC boosted its stake in shares of Rio Tinto by 144.7% during the 4th quarter. Natixis Advisors LLC now owns 1,587,387 shares of the mining company’s stock worth $127,039,000 after acquiring an additional 938,687 shares in the last quarter. Finally, Bank of America Corp DE grew its holdings in shares of Rio Tinto by 31.9% in the 3rd quarter. Bank of America Corp DE now owns 3,157,545 shares of the mining company’s stock worth $208,430,000 after acquiring an additional 763,786 shares during the period. Institutional investors and hedge funds own 19.33% of the company’s stock.

Rio Tinto Trading Up 1.7%

Shares of NYSE RIO opened at $90.54 on Wednesday. The firm’s 50-day moving average is $99.44 and its two-hundred day moving average is $95.64. Rio Tinto PLC has a 12-month low of $58.40 and a 12-month high of $112.58. 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

Several research firms recently weighed in on RIO. Citigroup reaffirmed a “neutral” rating on shares of Rio Tinto in a research note on Thursday, July 9th. Royal Bank Of Canada downgraded Rio Tinto from a “sector perform” rating to an “underperform” rating in a research report on Wednesday, June 3rd. Morgan Stanley lowered Rio Tinto from an “equal weight” rating to an “underweight” rating in a report on Wednesday, July 8th. Bank of America cut Rio Tinto from a “buy” rating to a “neutral” rating in a research report on Friday, May 22nd. Finally, Argus set a $120.00 price target 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, seven have given a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, Rio Tinto has a consensus rating of “Hold” and a consensus 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.