Sacks & Associates LLC Makes New Investment in Rio Tinto PLC $RIO

Sacks & Associates LLC acquired a new position in Rio Tinto PLC (NYSE:RIO) in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 11,448 shares of the mining company’s stock, valued at approximately $1,078,000.

Other hedge funds have also modified their holdings of the company. Arrowstreet Capital Limited Partnership raised its holdings in Rio Tinto by 170.8% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 3,886,335 shares of the mining company’s stock worth $311,023,000 after purchasing an additional 2,451,140 shares during the period. Bank of America Corp DE grew its holdings in Rio Tinto by 6.6% in the first quarter. Bank of America Corp DE now owns 3,623,294 shares of the mining company’s stock valued at $338,017,000 after purchasing an additional 225,016 shares during the period. Milford Funds Ltd. purchased a new stake in shares of Rio Tinto in the fourth quarter valued at approximately $93,143,000. Altshuler Shaham Ltd purchased a new stake in shares of Rio Tinto in the first quarter valued at approximately $106,724,000. Finally, Renaissance Technologies LLC raised its stake in shares of Rio Tinto by 417.6% during the 1st quarter. Renaissance Technologies LLC now owns 965,800 shares of the mining company’s stock worth $90,099,000 after buying an additional 779,200 shares during the period. 19.33% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

RIO has been the topic of a number of recent analyst reports. Morningstar upgraded Rio Tinto to a “hold” rating in a research report on Tuesday, July 14th. UBS Group reissued a “neutral” rating on shares of Rio Tinto in a report on Thursday, July 30th. Erste Group Bank cut shares of Rio Tinto from a “buy” rating to a “hold” rating in a research report on Thursday, August 27th. Zacks Research upgraded shares of Rio Tinto from a “strong sell” rating to a “hold” rating in a research report on Wednesday, September 2nd. Finally, DZ Bank reissued a “buy” rating on shares of Rio Tinto in a research note on Tuesday, September 15th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, thirteen have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $101.62.

Rio Tinto News Roundup

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

• Positive Sentiment: Improving copper outlook supports miners. Deutsche Bank raised its price targets for several UK-listed mining companies, citing stronger copper fundamentals and the possibility of a supply squeeze in coming quarters. The outlook is potentially supportive for Rio Tinto because copper is a key growth commodity for the company. Deutsche Bank raises targets on UK miners as copper squeeze looms
• Positive Sentiment: Technology partnerships add potential long-term upside. Rio Tinto’s battery-technology partner, Graphene Manufacturing Group, reported a 48% improvement in energy density, doubled cycle life and 94% energy efficiency for fast-charging graphene cells. The development could strengthen Rio Tinto’s exposure to battery-material technologies, although it is not yet a major earnings driver. GMG Announces 48% Increase in Energy Density
• Neutral Sentiment: Continued exploration activity provides a limited positive signal. Domestic Metals is drilling Rio Tinto’s Smart Creek hole from a new angle, indicating ongoing exploration and potential resource-development interest. No assay results or economic impact were reported, so the immediate effect on RIO is likely limited. Domestic metals drilling Rio Tinto’s Smart Creek hole at a new angle
• Neutral Sentiment: Rio Tinto is expanding its mining-technology network. Fieldstone Bio was selected for a Rio Tinto-backed accelerator focused on critical-mineral biosensors. The initiative may improve future exploration and processing capabilities but is unlikely to materially affect near-term results. Fieldstone Bio Selected for Rio Tinto and Founders Factory Mining Tech Accelerator
• Negative Sentiment: Macro and sector pressure remains a headwind. Higher bond yields, concerns about rate increases, surging oil prices and elevated energy costs have weighed on global mining shares and the broader FTSE 100. These factors can pressure Rio Tinto’s valuation and raise operating costs, offsetting some of the benefit from stronger copper fundamentals. FTSE 100 today: Stocks flat as oil surge, rising yields weigh

Rio Tinto Stock Up 1.5%

Shares of NYSE:RIO opened at $94.72 on Friday. The company has a quick ratio of 0.93, a current ratio of 1.42 and a debt-to-equity ratio of 0.29. The business’s 50 day moving average price is $99.05 and its 200-day moving average price is $98.40. Rio Tinto PLC has a 1 year low of $65.35 and a 1 year high of $112.58.

Rio Tinto Announces Dividend

The company also recently disclosed a dividend, which was paid on Thursday, September 24th. Investors of record on Friday, August 14th were paid a $2.11 dividend. This represents a yield of 441.0%. The ex-dividend date of this dividend was Friday, August 14th.

Rio Tinto Company Profile

Rio Tinto plc is a global mining and metals company that explores for, develops, and operates mineral resources. Its principal products include iron ore, aluminum, copper, lithium, borates, titanium dioxide feedstocks, and salt. The company supplies raw materials to industries such as construction, manufacturing, transportation, packaging, and renewable energy.

Rio Tinto’s iron ore business is concentrated in Western Australia’s Pilbara region, while its aluminum operations span bauxite mining, alumina refining, and aluminum smelting in several countries.