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

Bell Bank lifted its position 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 filing with the SEC. The institutional investor owned 154,036 shares of the mining company's stock after buying an additional 11,805 shares during the quarter. Bell Bank's holdings in Rio Tinto were worth $9,254,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of RIO. Rakuten Securities Inc. increased its holdings in Rio Tinto by 74.8% in the 4th quarter. Rakuten Securities Inc. now owns 493 shares of the mining company's stock valued at $29,000 after acquiring an additional 211 shares during the last quarter. Mechanics Financial Corp bought a new stake in Rio Tinto in the 4th quarter valued at $29,000. Bfsg LLC increased its holdings in Rio Tinto by 5,754.5% in the 1st quarter. Bfsg LLC now owns 644 shares of the mining company's stock valued at $39,000 after acquiring an additional 633 shares during the last quarter. Ameriflex Group Inc. bought a new stake in shares of Rio Tinto in the 4th quarter worth about $47,000. Finally, SJS Investment Consulting Inc. increased its holdings in shares of Rio Tinto by 577.9% in the 1st quarter. SJS Investment Consulting Inc. now owns 922 shares of the mining company's stock worth $55,000 after buying an additional 786 shares during the last quarter. Hedge funds and other institutional investors own 19.33% of the company's stock.

Rio Tinto Stock Performance

Rio Tinto stock traded up $0.11 during mid-day trading on Wednesday, reaching $57.12. 719,565 shares of the company traded hands, compared to its average volume of 2,940,062. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.63 and a quick ratio of 1.13. Rio Tinto PLC has a fifty-two week low of $51.67 and a fifty-two week high of $72.08. The company has a market capitalization of $71.63 billion, a price-to-earnings ratio of 8.85 and a beta of 0.68. The firm's fifty day moving average is $59.61 and its two-hundred day moving average is $60.51.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on RIO. Wall Street Zen downgraded shares of Rio Tinto from a "strong-buy" rating to a "buy" rating in a report on Monday, April 28th. Morgan Stanley cut shares of Rio Tinto from an "overweight" rating to an "equal weight" rating in a research report on Wednesday, April 9th. DZ Bank raised shares of Rio Tinto from a "hold" rating to a "strong-buy" rating in a research report on Thursday, March 27th. JPMorgan Chase & Co. started coverage on shares of Rio Tinto in a research report on Tuesday, March 18th. They issued an "overweight" rating for the company. Finally, Jefferies Financial Group reaffirmed a "hold" rating on shares of Rio Tinto in a research report on Tuesday, June 3rd. Four research analysts have rated the stock with a hold rating, five have given a buy rating and three have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $73.00.

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.