SSA Swiss Advisors AG Purchases Shares of 51,562 Rio Tinto PLC (NYSE:RIO)

Key Points

• SSA Swiss Advisors AG bought 51,562 shares of Rio Tinto PLC, valued at approximately $3.2 million, making it the 24th largest position in their investment portfolio.
• Rio Tinto's stock price opened at $62.32 and has a market cap of $78.15 billion, with analysts having a consensus rating of "Moderate Buy" and an average price target of $73.00.
• Recent investment activity includes several hedge funds acquiring new stakes in Rio Tinto, underscoring increasing institutional interest in the company.

SSA Swiss Advisors AG bought a new position in shares of Rio Tinto PLC (NYSE:RIO - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 51,562 shares of the mining company's stock, valued at approximately $3,201,000. Rio Tinto comprises approximately 1.6% of SSA Swiss Advisors AG's portfolio, making the stock its 24th biggest holding.

A number of other hedge funds and other institutional investors have also modified their holdings of RIO. Auto Owners Insurance Co grew its stake in Rio Tinto by 77,150.0% in the first quarter. Auto Owners Insurance Co now owns 7,416,000 shares of the mining company's stock worth $445,553,000 after purchasing an additional 7,406,400 shares in the last quarter. Franklin Resources Inc. boosted its stake in Rio Tinto by 1.4% in the fourth quarter. Franklin Resources Inc. now owns 5,115,476 shares of the mining company's stock valued at $300,841,000 after acquiring an additional 70,131 shares during the period. FMR LLC boosted its stake in Rio Tinto by 24.6% in the fourth quarter. FMR LLC now owns 1,721,690 shares of the mining company's stock valued at $101,253,000 after acquiring an additional 339,924 shares during the period. Northern Trust Corp boosted its stake in Rio Tinto by 18.9% in the fourth quarter. Northern Trust Corp now owns 1,603,037 shares of the mining company's stock valued at $94,275,000 after acquiring an additional 255,151 shares during the period. Finally, Deutsche Bank AG boosted its stake in Rio Tinto by 143,872.8% in the fourth quarter. Deutsche Bank AG now owns 1,264,081 shares of the mining company's stock valued at $74,341,000 after acquiring an additional 1,263,203 shares during the period. 19.33% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

RIO has been the subject of a number of research reports. Wall Street Zen downgraded Rio Tinto from a "strong-buy" rating to a "buy" rating in a research note on Monday, April 28th. Berenberg Bank reiterated a "hold" rating on shares of Rio Tinto in a research report on Thursday, July 3rd. Barclays reiterated an "overweight" rating on shares of Rio Tinto in a research report on Wednesday, July 2nd. Morgan Stanley reiterated an "overweight" rating on shares of Rio Tinto in a research report on Monday, July 14th. Finally, Jefferies Financial Group reiterated a "hold" rating on shares of Rio Tinto in a research report on Tuesday, June 3rd. Five equities research analysts have rated the stock with a hold rating, four have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $73.00.

Rio Tinto Price Performance

NYSE:RIO traded up $0.26 during midday trading on Thursday, hitting $59.75. 4,823,636 shares of the stock were exchanged, compared to its average volume of 3,783,644. Rio Tinto PLC has a one year low of $51.67 and a one year high of $72.08. The company has a market capitalization of $74.92 billion, a price-to-earnings ratio of 9.26 and a beta of 0.66. The business has a 50-day moving average price of $59.56 and a two-hundred day moving average price of $60.31. The company has a current ratio of 1.63, a quick ratio of 1.13 and a debt-to-equity ratio of 0.23.

Rio Tinto Company Profile

Rio Tinto Group engages in exploring, mining, and processing mineral resources worldwide. The company operates through Iron Ore, Aluminium, Copper, and Minerals Segments. The Iron Ore segment engages in the iron ore mining, and salt and gypsum production in Western Australia. The Aluminum segment is involved in bauxite mining; alumina refining; and aluminium smelting.