Oppenheimer Asset Management Inc. Has $10.78 Million Stock Position in Rio Tinto PLC (NYSE:RIO)

Oppenheimer Asset Management Inc. boosted its stake in Rio Tinto PLC (NYSE:RIO - Free Report) by 7.6% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 179,432 shares of the mining company's stock after purchasing an additional 12,606 shares during the quarter. Oppenheimer Asset Management Inc.'s holdings in Rio Tinto were worth $10,780,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of RIO. Rhumbline Advisers raised its position in shares of Rio Tinto by 1.1% in the 4th quarter. Rhumbline Advisers now owns 24,793 shares of the mining company's stock valued at $1,458,000 after buying an additional 266 shares in the last quarter. Principal Securities Inc. increased its stake in Rio Tinto by 19.8% in the fourth quarter. Principal Securities Inc. now owns 3,011 shares of the mining company's stock valued at $177,000 after acquiring an additional 497 shares during the last quarter. Allworth Financial LP raised its position in Rio Tinto by 47.6% during the fourth quarter. Allworth Financial LP now owns 1,792 shares of the mining company's stock valued at $110,000 after purchasing an additional 578 shares in the last quarter. Sanctuary Advisors LLC lifted its stake in Rio Tinto by 7.9% during the fourth quarter. Sanctuary Advisors LLC now owns 30,760 shares of the mining company's stock worth $1,874,000 after purchasing an additional 2,254 shares during the last quarter. Finally, Private Advisor Group LLC boosted its holdings in shares of Rio Tinto by 35.1% in the 4th quarter. Private Advisor Group LLC now owns 36,921 shares of the mining company's stock valued at $2,171,000 after purchasing an additional 9,591 shares in the last quarter. Institutional investors and hedge funds own 19.33% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. JPMorgan Chase & Co. assumed coverage on Rio Tinto in a report on Tuesday, March 18th. They set an "overweight" rating for the company. Jefferies Financial Group reiterated a "hold" rating on shares of Rio Tinto in a research report on Tuesday, June 3rd. Barclays reissued an "overweight" rating on shares of Rio Tinto in a report on Wednesday, April 16th. Wall Street Zen downgraded shares of Rio Tinto from a "strong-buy" rating to a "buy" rating in a research note on Monday, April 28th. Finally, DZ Bank upgraded shares of Rio Tinto from a "hold" rating to a "strong-buy" rating in a research report on Thursday, March 27th. Four equities research 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 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 2,768,429 shares, compared to its average volume of 2,992,066. The business's 50 day simple moving average is $59.66 and its 200-day simple moving average is $60.22. Rio Tinto PLC has a one year low of $51.67 and a one year high of $72.08. The stock has a market cap of $73.64 billion, a price-to-earnings ratio of 9.10 and a beta of 0.68. The company has a quick ratio of 1.13, a current ratio of 1.63 and a debt-to-equity ratio of 0.23.

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.