Cullen Frost Bankers Inc. Grows Holdings in Rio Tinto PLC (NYSE:RIO)

Cullen Frost Bankers Inc. boosted its stake in Rio Tinto PLC (NYSE:RIO - Free Report) by 13.8% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 105,647 shares of the mining company's stock after acquiring an additional 12,803 shares during the period. Cullen Frost Bankers Inc.'s holdings in Rio Tinto were worth $6,347,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Mechanics Financial Corp bought a new stake in shares of Rio Tinto in the fourth quarter valued at approximately $29,000. Alpine Bank Wealth Management purchased a new position in Rio Tinto during the first quarter valued at approximately $30,000. Wayfinding Financial LLC purchased a new position in Rio Tinto in the 1st quarter worth approximately $30,000. Bfsg LLC grew its stake in Rio Tinto by 5,754.5% in the 1st quarter. Bfsg LLC now owns 644 shares of the mining company's stock worth $39,000 after buying an additional 633 shares in the last quarter. Finally, Ameriflex Group Inc. purchased a new position in Rio Tinto in the 4th quarter worth approximately $47,000. Institutional investors own 19.33% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on RIO shares. Morgan Stanley reissued an "overweight" rating on shares of Rio Tinto in a research note on Monday. Wall Street Zen lowered shares of Rio Tinto from a "strong-buy" rating to a "buy" rating in a report on Monday, April 28th. Jefferies Financial Group restated a "hold" rating on shares of Rio Tinto in a report on Tuesday, June 3rd. Berenberg Bank restated a "hold" rating on shares of Rio Tinto in a report on Thursday, July 3rd. Finally, Barclays reiterated an "overweight" rating on shares of Rio Tinto in a report on Wednesday, July 2nd. Four investment analysts have rated the stock with a hold rating, five have assigned a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $73.00.

Rio Tinto Trading Up 0.5%

NYSE RIO traded up $0.31 during trading on Thursday, hitting $60.03. The company had a trading volume of 2,570,093 shares, compared to its average volume of 3,113,238. 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 PLC has a one year low of $51.67 and a one year high of $72.08. The company has a market cap of $75.27 billion, a price-to-earnings ratio of 9.31 and a beta of 0.66. The company's fifty day moving average is $59.47 and its 200-day moving average is $60.06.

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.