Cullen Frost Bankers Inc. Acquires 12,803 Shares of Rio Tinto PLC (NYSE:RIO)

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

Several other large investors have also recently made changes to their positions in RIO. Wayfinding Financial LLC acquired a new position in Rio Tinto during the 1st quarter worth about $30,000. Mechanics Financial Corp purchased a new position in Rio Tinto during the 4th quarter worth approximately $29,000. Alpine Bank Wealth Management purchased a new position in Rio Tinto during the 1st quarter worth approximately $30,000. Bfsg LLC grew its stake in Rio Tinto by 5,754.5% during the 1st quarter. Bfsg LLC now owns 644 shares of the mining company's stock worth $39,000 after buying an additional 633 shares during the last quarter. Finally, Ameriflex Group Inc. purchased a new position in shares of Rio Tinto in the 4th quarter valued at approximately $47,000. 19.33% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Rio Tinto Trading Up 0.9%

NYSE:RIO traded up $0.55 during trading hours on Friday, hitting $60.58. 2,858,708 shares of the stock were exchanged, compared to its average volume of 3,114,403. The company has a market capitalization of $75.97 billion, a P/E ratio of 9.39 and a beta of 0.66. Rio Tinto PLC has a twelve month low of $51.67 and a twelve month high of $72.08. The company has a quick ratio of 1.13, a current ratio of 1.63 and a debt-to-equity ratio of 0.23. The company's 50 day moving average is $59.50 and its two-hundred day moving average is $60.09.

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.