Janney Montgomery Scott LLC Raises Stock Holdings in Rio Tinto PLC (NYSE:RIO)

Janney Montgomery Scott LLC raised its position in Rio Tinto PLC (NYSE:RIO - Free Report) by 7.1% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 308,542 shares of the mining company's stock after purchasing an additional 20,467 shares during the period. Janney Montgomery Scott LLC's holdings in Rio Tinto were worth $18,537,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Fisher Asset Management LLC lifted its holdings in Rio Tinto by 0.4% in the 4th quarter. Fisher Asset Management LLC now owns 17,604,463 shares of the mining company's stock valued at $1,035,319,000 after purchasing an additional 76,368 shares in the last quarter. Franklin Resources Inc. lifted its holdings in Rio Tinto by 1.4% in the 4th quarter. Franklin Resources Inc. now owns 5,115,476 shares of the mining company's stock valued at $300,841,000 after purchasing an additional 70,131 shares in the last quarter. FMR LLC lifted its holdings in Rio Tinto by 24.6% in the 4th quarter. FMR LLC now owns 1,721,690 shares of the mining company's stock valued at $101,253,000 after purchasing an additional 339,924 shares in the last quarter. Northern Trust Corp lifted its holdings in Rio Tinto by 18.9% in the 4th quarter. Northern Trust Corp now owns 1,603,037 shares of the mining company's stock valued at $94,275,000 after purchasing an additional 255,151 shares in the last quarter. Finally, Deutsche Bank AG lifted its holdings in Rio Tinto by 143,872.8% in the 4th quarter. Deutsche Bank AG now owns 1,264,081 shares of the mining company's stock valued at $74,341,000 after purchasing an additional 1,263,203 shares in the last quarter. Hedge funds and other institutional investors own 19.33% of the company's stock.

Analysts Set New Price Targets

Several research analysts have recently commented on RIO shares. Morgan Stanley lowered Rio Tinto from an "overweight" rating to an "equal weight" rating in a report on Wednesday, April 9th. Clarkson Capital upgraded Rio Tinto to a "strong-buy" rating in a report on Friday, February 28th. DZ Bank upgraded Rio Tinto from a "hold" rating to a "strong-buy" rating in a report on Thursday, March 27th. Jefferies Financial Group reiterated a "hold" rating on shares of Rio Tinto in a report on Tuesday, June 3rd. Finally, Wall Street Zen lowered Rio Tinto from a "strong-buy" rating to a "buy" rating in a report on Monday, April 28th. Four 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. According to MarketBeat, Rio Tinto presently has a consensus rating of "Moderate Buy" and a consensus price target of $73.00.

Rio Tinto Trading Down 1.9%

RIO traded down $1.06 on Friday, hitting $55.88. The company had a trading volume of 4,665,626 shares, compared to its average volume of 2,965,336. The firm has a market cap of $70.08 billion, a P/E ratio of 8.66 and a beta of 0.68. Rio Tinto PLC has a 1 year low of $51.67 and a 1 year high of $72.08. The company's fifty day moving average price is $59.66 and its 200 day moving average price is $60.36. 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 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.