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

Janney Montgomery Scott LLC lifted its position in Rio Tinto PLC (NYSE:RIO - Free Report) by 7.1% in the first quarter, according to its most recent Form 13F filing with the SEC. The firm 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 large investors also recently bought and sold shares of the business. Fisher Asset Management LLC raised its stake in Rio Tinto by 0.4% in the fourth quarter. Fisher Asset Management LLC now owns 17,604,463 shares of the mining company's stock worth $1,035,319,000 after buying an additional 76,368 shares in the last quarter. Franklin Resources Inc. raised its stake in Rio Tinto by 1.4% in the fourth quarter. Franklin Resources Inc. now owns 5,115,476 shares of the mining company's stock worth $300,841,000 after buying an additional 70,131 shares in the last quarter. FMR LLC raised its stake in Rio Tinto by 24.6% in the fourth quarter. FMR LLC now owns 1,721,690 shares of the mining company's stock worth $101,253,000 after buying an additional 339,924 shares in the last quarter. Northern Trust Corp raised its stake in Rio Tinto by 18.9% in the fourth quarter. Northern Trust Corp now owns 1,603,037 shares of the mining company's stock worth $94,275,000 after buying an additional 255,151 shares in the last quarter. Finally, Deutsche Bank AG raised 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 buying an additional 1,263,203 shares in the last quarter. Institutional investors own 19.33% of the company's stock.

Rio Tinto Price Performance

NYSE RIO opened at $56.92 on Thursday. 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 stock's fifty day moving average price is $59.64 and its 200 day moving average price is $60.48. Rio Tinto PLC has a 1 year low of $51.67 and a 1 year high of $72.08. The company has a market cap of $71.38 billion, a price-to-earnings ratio of 8.83 and a beta of 0.68.

Analyst Upgrades and Downgrades

Several analysts have recently commented on RIO shares. Barclays reiterated an "overweight" rating on shares of Rio Tinto in a report on Wednesday, April 16th. Morgan Stanley lowered Rio Tinto from an "overweight" rating to an "equal weight" rating in a report on Wednesday, April 9th. Wall Street Zen lowered Rio Tinto from a "strong-buy" rating to a "buy" rating in a report on Monday, April 28th. JPMorgan Chase & Co. started coverage on Rio Tinto in a report on Tuesday, March 18th. They set an "overweight" rating for the company. Finally, DZ Bank upgraded Rio Tinto from a "hold" rating to a "strong-buy" rating in a report on Thursday, March 27th. Four equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $73.00.

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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