Massachusetts Financial Services Co. MA Has $12.14 Million Holdings in Rio Tinto PLC (NYSE:RIO)

Massachusetts Financial Services Co. MA boosted its stake in shares of Rio Tinto PLC (NYSE:RIO - Free Report) by 20.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 202,117 shares of the mining company's stock after acquiring an additional 34,627 shares during the quarter. Massachusetts Financial Services Co. MA's holdings in Rio Tinto were worth $12,143,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. SBI Securities Co. Ltd. increased its holdings in Rio Tinto by 0.7% during the 1st quarter. SBI Securities Co. Ltd. now owns 42,242 shares of the mining company's stock valued at $2,538,000 after purchasing an additional 284 shares in the last quarter. MQS Management LLC grew its holdings in shares of Rio Tinto by 276.9% during the first quarter. MQS Management LLC now owns 16,389 shares of the mining company's stock worth $985,000 after purchasing an additional 12,041 shares during the last quarter. LRI Investments LLC increased its stake in shares of Rio Tinto by 302.3% in the first quarter. LRI Investments LLC now owns 3,826 shares of the mining company's stock valued at $230,000 after buying an additional 2,875 shares in the last quarter. Oxbow Advisors LLC increased its stake in shares of Rio Tinto by 3.6% in the first quarter. Oxbow Advisors LLC now owns 62,602 shares of the mining company's stock valued at $3,761,000 after buying an additional 2,184 shares in the last quarter. Finally, Stephens Inc. AR raised its holdings in shares of Rio Tinto by 43.5% in the first quarter. Stephens Inc. AR now owns 79,873 shares of the mining company's stock valued at $4,799,000 after buying an additional 24,200 shares during the last quarter. 19.33% of the stock is owned by institutional investors.

Rio Tinto Trading Up 3.5%

Shares of NYSE:RIO traded up $2.18 during midday trading on Tuesday, hitting $64.23. The company had a trading volume of 2,903,410 shares, compared to its average volume of 3,114,378. The company has a current ratio of 1.63, a quick ratio of 1.13 and a debt-to-equity ratio of 0.23. The stock has a market cap of $80.54 billion, a price-to-earnings ratio of 9.96 and a beta of 0.66. The firm has a fifty day simple moving average of $59.50 and a 200 day simple moving average of $60.10. Rio Tinto PLC has a 12 month low of $51.67 and a 12 month high of $72.08.

Analysts Set New Price Targets

RIO has been the subject of several research reports. Wall Street Zen cut shares of Rio Tinto from a "strong-buy" rating to a "buy" rating in a research report on Monday, April 28th. Morgan Stanley reissued an "overweight" rating on shares of Rio Tinto in a report on Monday, July 14th. Berenberg Bank restated a "hold" rating on shares of Rio Tinto in a research report on Thursday, July 3rd. Barclays reiterated an "overweight" rating on shares of Rio Tinto in a research report on Wednesday, July 2nd. Finally, Jefferies Financial Group restated a "hold" rating on shares of Rio Tinto in a research report on Tuesday, June 3rd. Four 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. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus 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.