Rio Tinto PLC (NYSE:RIO) Shares Bought by Natixis Advisors LLC

Key Points

• Natixis Advisors LLC increased its stake in Rio Tinto PLC by 2.9%, acquiring an additional 21,798 shares, totaling 785,750 shares now owned, worth approximately $47.2 million.
• Institutional investors currently own 19.33% of Rio Tinto, with several hedge funds either buying new positions or significantly increasing their stakes during the first quarter.
• Wall Street analysts have mixed opinions on Rio Tinto, with ratings ranging from "hold" to "overweight," and an average target price of $73.00.

Natixis Advisors LLC grew its stake in shares of Rio Tinto PLC (NYSE:RIO - Free Report) by 2.9% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 785,750 shares of the mining company's stock after buying an additional 21,798 shares during the period. Natixis Advisors LLC owned 0.06% of Rio Tinto worth $47,208,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in the business. Auto Owners Insurance Co raised its position in Rio Tinto by 77,150.0% during the first quarter. Auto Owners Insurance Co now owns 7,416,000 shares of the mining company's stock valued at $445,553,000 after purchasing an additional 7,406,400 shares during the period. Deutsche Bank AG increased 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 purchasing an additional 1,263,203 shares during the period. Dynamo Internacional Gestao DE Recursos LTDA. lifted its stake in Rio Tinto by 119.2% in the fourth quarter. Dynamo Internacional Gestao DE Recursos LTDA. now owns 129,804 shares of the mining company's stock worth $2,423,000 after acquiring an additional 807,610 shares during the period. Paloma Partners Management Co purchased a new stake in Rio Tinto in the fourth quarter worth about $40,032,000. Finally, Raymond James Financial Inc. bought a new stake in Rio Tinto during the fourth quarter valued at about $29,606,000. 19.33% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have weighed in on RIO. Deutsche Bank Aktiengesellschaft downgraded Rio Tinto from a "buy" rating to a "hold" rating in a report on Wednesday. Barclays reiterated an "overweight" rating on shares of Rio Tinto in a research report on Wednesday, July 2nd. Wall Street Zen lowered Rio Tinto from a "strong-buy" rating to a "buy" rating in a research note on Monday, April 28th. Berenberg Bank reaffirmed a "hold" rating on shares of Rio Tinto in a research note on Thursday, July 3rd. Finally, Morgan Stanley reissued an "overweight" rating on shares of Rio Tinto in a research note on Monday, July 14th. Four research analysts have rated the stock with a hold rating, four have assigned a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat, Rio Tinto presently has a consensus rating of "Moderate Buy" and a consensus target price of $73.00.

Rio Tinto Stock Down 0.3%

Shares of RIO traded down $0.15 during mid-day trading on Friday, reaching $59.62. The company's stock had a trading volume of 2,712,907 shares, compared to its average volume of 3,804,417. The stock has a market cap of $74.77 billion, a PE ratio of 9.24 and a beta of 0.64. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.53 and a quick ratio of 1.13. Rio Tinto PLC has a 12-month low of $51.67 and a 12-month high of $72.08. The company's 50 day moving average is $59.52 and its 200 day moving average is $60.30.

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.