Jeppson Wealth Management LLC Buys 10,361 Shares of Rio Tinto PLC (NYSE:RIO)

Jeppson Wealth Management LLC grew its holdings in shares of Rio Tinto PLC (NYSE:RIO - Free Report) by 51.6% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 30,454 shares of the mining company's stock after purchasing an additional 10,361 shares during the period. Jeppson Wealth Management LLC's holdings in Rio Tinto were worth $1,830,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC grew its holdings in Rio Tinto by 18.4% during the first quarter. Allspring Global Investments Holdings LLC now owns 118,221 shares of the mining company's stock worth $7,120,000 after acquiring an additional 18,368 shares during the period. Philip James Wealth Mangement LLC grew its holdings in Rio Tinto by 4.0% during the first quarter. Philip James Wealth Mangement LLC now owns 23,311 shares of the mining company's stock worth $1,401,000 after acquiring an additional 887 shares during the period. Jaffetilchin Investment Partners LLC acquired a new position in Rio Tinto during the first quarter worth about $331,000. Perigon Wealth Management LLC grew its holdings in Rio Tinto by 57.7% during the first quarter. Perigon Wealth Management LLC now owns 17,078 shares of the mining company's stock worth $1,026,000 after acquiring an additional 6,246 shares during the period. Finally, Live Oak Investment Partners boosted its position in shares of Rio Tinto by 4.4% in the 1st quarter. Live Oak Investment Partners now owns 19,650 shares of the mining company's stock valued at $1,181,000 after purchasing an additional 828 shares during the period. 19.33% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on RIO shares. Morgan Stanley lowered Rio Tinto from an "overweight" rating to an "equal weight" rating in a research report on Wednesday, April 9th. DZ Bank upgraded Rio Tinto from a "hold" rating to a "strong-buy" rating in a research report on Thursday, March 27th. Jefferies Financial Group restated a "hold" rating on shares of Rio Tinto in a research report on Tuesday, June 3rd. Wall Street Zen lowered Rio Tinto from a "strong-buy" rating to a "buy" rating in a research report on Monday, April 28th. Finally, JPMorgan Chase & Co. started coverage on Rio Tinto in a research report on Tuesday, March 18th. They set an "overweight" rating for the company. Four investment analysts have rated the stock with a hold rating, five have issued a buy rating and three have given a strong buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $73.00.

Rio Tinto Trading Up 0.2%

Rio Tinto stock traded up $0.15 during trading hours on Friday, hitting $58.73. The stock had a trading volume of 2,768,713 shares, compared to its average volume of 3,081,653. The company has a 50-day moving average of $59.67 and a two-hundred day moving average of $60.14. 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 PLC has a fifty-two week low of $51.67 and a fifty-two week high of $72.08.

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.