Jaffetilchin Investment Partners LLC Takes Position in Rio Tinto PLC (NYSE:RIO)

Jaffetilchin Investment Partners LLC bought a new position in shares of Rio Tinto PLC (NYSE:RIO - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 5,506 shares of the mining company's stock, valued at approximately $331,000.

Several other large investors have also bought and sold shares of RIO. Dorsey & Whitney Trust CO LLC raised its holdings in shares of Rio Tinto by 2.0% during the fourth quarter. Dorsey & Whitney Trust CO LLC now owns 8,113 shares of the mining company's stock valued at $477,000 after purchasing an additional 160 shares during the period. Capital Analysts LLC grew its position in shares of Rio Tinto by 6.0% during the 4th quarter. Capital Analysts LLC now owns 2,886 shares of the mining company's stock valued at $170,000 after acquiring an additional 163 shares during the period. Nemes Rush Group LLC lifted its position in shares of Rio Tinto by 10.0% during the fourth quarter. Nemes Rush Group LLC now owns 1,855 shares of the mining company's stock worth $109,000 after acquiring an additional 169 shares in the last quarter. Walker Asset Management LLC lifted its position in shares of Rio Tinto by 4.8% during the first quarter. Walker Asset Management LLC now owns 4,326 shares of the mining company's stock worth $260,000 after acquiring an additional 200 shares in the last quarter. Finally, Quintet Private Bank Europe S.A. raised its position in shares of Rio Tinto by 10.0% in the first quarter. Quintet Private Bank Europe S.A. now owns 2,200 shares of the mining company's stock worth $132,000 after buying an additional 200 shares in the last quarter. 19.33% of the stock is owned by institutional investors and hedge funds.

Rio Tinto Stock Performance

Shares of NYSE:RIO traded up $0.15 during midday trading on Friday, hitting $58.73. The company had a trading volume of 2,768,713 shares, compared to its average volume of 3,000,691. 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 current ratio of 1.63 and a quick ratio of 1.13. The company has a market cap of $73.64 billion, a price-to-earnings ratio of 9.10 and a beta of 0.68. The company has a fifty day moving average of $59.67 and a two-hundred day moving average of $60.14.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on RIO. Morgan Stanley cut Rio Tinto from an "overweight" rating to an "equal weight" rating in a research note on Wednesday, April 9th. JPMorgan Chase & Co. started coverage on shares of Rio Tinto in a report on Tuesday, March 18th. They issued an "overweight" rating for the company. DZ Bank upgraded shares of Rio Tinto from a "hold" rating to a "strong-buy" rating in a report on Thursday, March 27th. Barclays reiterated an "overweight" rating on shares of Rio Tinto in a report on Wednesday, April 16th. Finally, Wall Street Zen lowered shares of Rio Tinto from a "strong-buy" rating to a "buy" rating in a report on Monday, April 28th. Four investment 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 stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $73.00.

About Rio Tinto

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.