Minneapolis Portfolio Management Group LLC Purchases 54,508 Shares of Rio Tinto plc ADR (NYSE:RIO)

Minneapolis Portfolio Management Group LLC lifted its position in Rio Tinto plc ADR (NYSE:RIO) by 7.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 740,865 shares of the mining company’s stock after acquiring an additional 54,508 shares during the period. Rio Tinto makes up approximately 5.5% of Minneapolis Portfolio Management Group LLC’s holdings, making the stock its 2nd biggest holding. Minneapolis Portfolio Management Group LLC owned 0.06% of Rio Tinto worth $46,186,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. IFG Advisory LLC bought a new stake in Rio Tinto during the 1st quarter worth approximately $219,000. Greenleaf Trust increased its stake in Rio Tinto by 57.3% during the 2nd quarter. Greenleaf Trust now owns 38,941 shares of the mining company’s stock worth $2,428,000 after purchasing an additional 14,183 shares in the last quarter. Belpointe Asset Management LLC bought a new stake in Rio Tinto during the 1st quarter worth approximately $109,000. Yorktown Management & Research Co Inc increased its stake in Rio Tinto by 30.0% during the 1st quarter. Yorktown Management & Research Co Inc now owns 13,000 shares of the mining company’s stock worth $765,000 after purchasing an additional 3,000 shares in the last quarter. Finally, GYL Financial Synergies LLC bought a new stake in Rio Tinto during the 1st quarter worth approximately $256,000. Institutional investors and hedge funds own 8.64% of the company’s stock.

Shares of Rio Tinto stock traded down $0.14 during midday trading on Friday, reaching $48.83. The company had a trading volume of 1,109,142 shares, compared to its average volume of 2,376,788. The stock has a fifty day moving average price of $57.60 and a 200 day moving average price of $58.41. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.55 and a quick ratio of 1.22. The firm has a market cap of $62.26 billion, a PE ratio of 9.63 and a beta of 0.83. Rio Tinto plc ADR has a fifty-two week low of $44.62 and a fifty-two week high of $64.02.



Several brokerages have recently weighed in on RIO. Credit Suisse Group cut shares of Rio Tinto from a “neutral” rating to an “underperform” rating in a research note on Wednesday, July 24th. Jefferies Financial Group cut shares of Rio Tinto from a “buy” rating to a “hold” rating in a research note on Tuesday, August 6th. Renaissance Capital cut shares of Rio Tinto from a “buy” rating to a “hold” rating in a research note on Tuesday, July 16th. Liberum Capital cut shares of Rio Tinto from a “buy” rating to a “hold” rating in a research note on Wednesday, July 24th. Finally, Goldman Sachs Group raised Rio Tinto from a “neutral” rating to a “buy” rating in a report on Monday, May 27th. Seven investment analysts have rated the stock with a sell rating, eleven have given a hold rating and three have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $59.77.

Rio Tinto Company Profile

Rio Tinto Group engages in finding, mining, and processing mineral resources worldwide. The company offers aluminium, silver, molybdenum, copper, diamonds, gold, borates, titanium dioxide, salt, iron ore, and uranium. It is also involved in the alumina production; primary aluminium smelting; bauxite mining; alumina refining; and ilmenite mining, as well as provision of gypsum.

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Institutional Ownership by Quarter for Rio Tinto (NYSE:RIO)

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