In the third quarter, Apollon Wealth Management LLC trimmed its position in Rio Tinto PLC by 69.4%, disposing of 9,705 shares and retaining 4,284 shares valued at approximately 283,000 as of its latest SEC filing. This move represents one of the largest single-manager reductions in Rio Tinto stock during the period and underscores a notable reallocation of capital outside the mining sector by the firm.

Several large funds rebalanced their Rio Tinto holdings in the second quarter. Kingstone Capital Partners Texas LLC initiated a position valued at roughly 292.8 million, while Marshall Wace LLP established a new stake of about 49.1 million. Bank of Montreal Canada increased its share count by 774,851 to a total of 1,855,607 shares, boosting its holding value to 108.2 million. Fisher Asset Management added 752,505 shares, bringing its total to 18,562,934 shares worth 1,082.8 million. Adage Capital Partners GP L.L.C. expanded its position by 444,602 shares, raising its total to 524,602 shares valued at 30.6 million. Together, institutional investors and hedge funds now account for 19.33% of Rio Tinto’s outstanding stock.

Analyst sentiment remains generally positive. Morgan Stanley reiterated an overweight rating, Citigroup maintained a hold, and Royal Bank of Canada upheld a sector perform assessment. Argus lifted its price objective from 70 to 85 and assigned a buy rating, while Weiss Ratings reaffirmed a hold (c+) stance. In total, three analysts rate Rio Tinto as a strong buy, four as buy and six as hold, resulting in a consensus rating of moderate buy with an average price target of 79.