D.A. Davidson & CO. Purchases 6,159 Shares of Rio Tinto PLC (NYSE:RIO)

D.A. Davidson & CO. boosted its position in Rio Tinto PLC (NYSE:RIO - Free Report) by 6.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 100,809 shares of the mining company's stock after purchasing an additional 6,159 shares during the period. D.A. Davidson & CO.'s holdings in Rio Tinto were worth $6,057,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in RIO. Deutsche Bank AG lifted 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 worth $74,341,000 after purchasing an additional 1,263,203 shares during the last quarter. Dynamo Internacional Gestao DE Recursos LTDA. raised its stake in shares of Rio Tinto by 119.2% during the fourth quarter. Dynamo Internacional Gestao DE Recursos LTDA. now owns 129,804 shares of the mining company's stock valued at $2,423,000 after acquiring an additional 807,610 shares in the last quarter. Paloma Partners Management Co bought a new stake in shares of Rio Tinto during the fourth quarter valued at approximately $40,032,000. Raymond James Financial Inc. bought a new stake in shares of Rio Tinto during the fourth quarter valued at approximately $29,606,000. Finally, Ameriprise Financial Inc. raised its stake in shares of Rio Tinto by 169.4% during the fourth quarter. Ameriprise Financial Inc. now owns 619,494 shares of the mining company's stock valued at $36,428,000 after acquiring an additional 389,531 shares in the last quarter. Institutional investors own 19.33% of the company's stock.

Analyst Upgrades and Downgrades

RIO has been the subject of several research analyst reports. DZ Bank raised shares of Rio Tinto from a "hold" rating to a "strong-buy" rating in a research note on Thursday, March 27th. Barclays reaffirmed an "overweight" rating on shares of Rio Tinto in a research note on Wednesday. Berenberg Bank reaffirmed a "hold" rating on shares of Rio Tinto in a research note on Thursday. JPMorgan Chase & Co. initiated coverage on shares of Rio Tinto in a research note on Tuesday, March 18th. They set an "overweight" rating for the company. Finally, Wall Street Zen downgraded shares of Rio Tinto from a "strong-buy" rating to a "buy" rating in a research note on Monday, April 28th. Five investment analysts have rated the stock with a hold rating, four have given a buy rating and three have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $73.00.

Rio Tinto Stock Performance

Shares of RIO stock opened at $58.94 on Friday. The firm has a market cap of $73.91 billion, a price-to-earnings ratio of 9.14 and a beta of 0.66. The company's 50 day moving average is $59.56 and its 200 day moving average is $60.05. The company has a quick ratio of 1.13, a current ratio of 1.63 and a debt-to-equity ratio of 0.23. Rio Tinto PLC has a 52-week low of $51.67 and a 52-week high of $72.08.

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.

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