Rio Tinto PLC (NYSE:RIO) Shares Purchased by Cerity Partners LLC

Cerity Partners LLC lifted its position in shares of Rio Tinto PLC (NYSE:RIO - Free Report) by 35.4% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 75,984 shares of the mining company's stock after buying an additional 19,875 shares during the quarter. Cerity Partners LLC's holdings in Rio Tinto were worth $4,567,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of RIO. Mechanics Financial Corp acquired a new position in Rio Tinto in the 4th quarter valued at about $29,000. Alpine Bank Wealth Management acquired a new stake in shares of Rio Tinto in the first quarter worth approximately $30,000. Wayfinding Financial LLC purchased a new stake in shares of Rio Tinto during the first quarter valued at approximately $30,000. Bfsg LLC increased its stake in Rio Tinto by 5,754.5% during the first quarter. Bfsg LLC now owns 644 shares of the mining company's stock valued at $39,000 after purchasing an additional 633 shares during the last quarter. Finally, Ameriflex Group Inc. acquired a new stake in Rio Tinto in the fourth quarter worth about $47,000. Hedge funds and other institutional investors own 19.33% of the company's stock.

Rio Tinto Trading Up 2.4%

NYSE RIO traded up $1.46 during trading hours on Monday, reaching $62.00. The company's stock had a trading volume of 3,248,826 shares, compared to its average volume of 3,114,963. The stock has a market cap of $77.75 billion, a P/E ratio of 9.61 and a beta of 0.66. Rio Tinto PLC has a 52 week low of $51.67 and a 52 week high of $72.08. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.63 and a quick ratio of 1.13. The firm has a fifty day simple moving average of $59.50 and a 200-day simple moving average of $60.10.

Analysts Set New Price Targets

A number of analysts have recently weighed in on RIO shares. Barclays restated an "overweight" rating on shares of Rio Tinto in a research note on Wednesday, July 2nd. Morgan Stanley reissued an "overweight" rating on shares of Rio Tinto in a report on Monday, July 14th. Wall Street Zen downgraded Rio Tinto from a "strong-buy" rating to a "buy" rating in a research report on Monday, April 28th. DZ Bank upgraded Rio Tinto from a "hold" rating to a "strong-buy" rating in a report on Thursday, March 27th. Finally, Berenberg Bank reiterated a "hold" rating on shares of Rio Tinto in a report on Thursday, July 3rd. Four research analysts have rated the stock with a hold rating, five have assigned a buy rating and three have issued a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $73.00.

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.