4,133 Shares in Rio Tinto PLC (NYSE:RIO) Acquired by one8zero8 LLC

Key Points

• one8zero8 LLC acquired 4,133 shares of Rio Tinto PLC, valued at approximately $248,000, signaling increased interest in the mining company.
• Rio Tinto's shares were reported down 1.1%, with the stock opening at $63.11 and a market capitalization of $79.14 billion.
• Analysts have generally given Rio Tinto a consensus rating of "Moderate Buy", with a target price of $73.00, reflecting ongoing confidence in the company's growth potential.

one8zero8 LLC purchased a new stake in shares of Rio Tinto PLC (NYSE:RIO - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 4,133 shares of the mining company's stock, valued at approximately $248,000.

Other hedge funds have also recently bought and sold shares of the company. XTX Topco Ltd bought a new position in Rio Tinto during the fourth quarter worth about $1,241,000. Rossby Financial LCC acquired a new stake in shares of Rio Tinto in the fourth quarter valued at approximately $360,000. Farther Finance Advisors LLC boosted its stake in shares of Rio Tinto by 24.2% during the 1st quarter. Farther Finance Advisors LLC now owns 4,023 shares of the mining company's stock worth $242,000 after acquiring an additional 785 shares during the period. Schroder Investment Management Group increased its holdings in shares of Rio Tinto by 3.2% during the 4th quarter. Schroder Investment Management Group now owns 32,258 shares of the mining company's stock worth $1,890,000 after acquiring an additional 1,009 shares during the last quarter. Finally, Norges Bank bought a new stake in Rio Tinto in the 4th quarter valued at $432,000. 19.33% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have issued reports on RIO shares. Wall Street Zen downgraded Rio Tinto from a "strong-buy" rating to a "buy" rating in a report on Monday, April 28th. Berenberg Bank reaffirmed a "hold" rating on shares of Rio Tinto in a report on Thursday, July 3rd. Jefferies Financial Group reiterated a "hold" rating on shares of Rio Tinto in a research note on Tuesday, June 3rd. Morgan Stanley restated an "overweight" rating on shares of Rio Tinto in a research report on Monday, July 14th. Finally, Barclays restated an "overweight" rating on shares of Rio Tinto in a report on Wednesday, July 2nd. Four analysts have rated the stock with a hold rating, four have issued a buy rating and two have assigned 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 Stock Performance

Shares of RIO stock traded down $0.91 on Monday, hitting $62.19. The company's stock had a trading volume of 3,300,524 shares, compared to its average volume of 3,868,617. Rio Tinto PLC has a fifty-two week low of $51.67 and a fifty-two week high of $72.08. The company has a market capitalization of $77.99 billion, a PE ratio of 9.64 and a beta of 0.66. The stock's 50 day moving average is $59.63 and its 200-day moving average is $60.30. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.13 and a current ratio of 1.63.

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.