Rio Tinto PLC (NYSE:RIO) Shares Purchased by Bell Bank

Bell Bank increased its holdings in shares of Rio Tinto PLC (NYSE:RIO - Free Report) by 8.3% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 154,036 shares of the mining company's stock after purchasing an additional 11,805 shares during the period. Bell Bank's holdings in Rio Tinto were worth $9,254,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Empowered Funds LLC boosted its position in Rio Tinto by 39.9% during the 4th quarter. Empowered Funds LLC now owns 4,992 shares of the mining company's stock valued at $294,000 after acquiring an additional 1,425 shares in the last quarter. Savant Capital LLC lifted its stake in shares of Rio Tinto by 37.2% during the 4th quarter. Savant Capital LLC now owns 8,689 shares of the mining company's stock worth $511,000 after purchasing an additional 2,354 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its position in Rio Tinto by 118.4% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 99,853 shares of the mining company's stock valued at $5,868,000 after purchasing an additional 54,130 shares in the last quarter. Vontobel Holding Ltd. grew its stake in Rio Tinto by 3.4% in the fourth quarter. Vontobel Holding Ltd. now owns 9,212 shares of the mining company's stock valued at $542,000 after purchasing an additional 302 shares during the last quarter. Finally, Rhumbline Advisers raised its holdings in Rio Tinto by 1.1% in the fourth quarter. Rhumbline Advisers now owns 24,793 shares of the mining company's stock worth $1,458,000 after purchasing an additional 266 shares in the last quarter. 19.33% of the stock is currently owned by institutional investors.

Rio Tinto Price Performance

Shares of RIO stock traded down $1.06 during trading hours on Friday, reaching $55.88. The company had a trading volume of 4,665,585 shares, compared to its average volume of 2,956,165. Rio Tinto PLC has a 12-month low of $51.67 and a 12-month high of $72.08. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.13 and a current ratio of 1.63. The company has a market capitalization of $70.08 billion, a price-to-earnings ratio of 8.66 and a beta of 0.68. The stock has a fifty day moving average of $59.68 and a 200-day moving average of $60.44.

Analyst Ratings Changes

A number of research firms have commented on RIO. Wall Street Zen cut Rio Tinto from a "strong-buy" rating to a "buy" rating in a research note on Monday, April 28th. DZ Bank upgraded shares of Rio Tinto from a "hold" rating to a "strong-buy" rating in a report on Thursday, March 27th. Clarkson Capital upgraded shares of Rio Tinto to a "strong-buy" rating in a research note on Friday, February 28th. Morgan Stanley downgraded shares of Rio Tinto from an "overweight" rating to an "equal weight" rating in a research report on Wednesday, April 9th. Finally, Jefferies Financial Group reaffirmed a "hold" rating on shares of Rio Tinto in a report on Tuesday, June 3rd. Four equities research analysts have rated the stock with a hold rating, five have issued a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $73.00.

Rio Tinto 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.