Rio Tinto PLC (NYSE:RIO) Shares Acquired by MQS Management LLC

MQS Management LLC grew its stake in shares of Rio Tinto PLC (NYSE:RIO - Free Report) by 276.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 16,389 shares of the mining company's stock after acquiring an additional 12,041 shares during the quarter. Rio Tinto comprises about 0.6% of MQS Management LLC's holdings, making the stock its 8th largest position. MQS Management LLC's holdings in Rio Tinto were worth $985,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently modified their holdings of the company. Capital Analysts LLC increased its position in Rio Tinto by 6.0% during the 4th quarter. Capital Analysts LLC now owns 2,886 shares of the mining company's stock worth $170,000 after purchasing an additional 163 shares in the last quarter. Nemes Rush Group LLC increased its position in Rio Tinto by 10.0% during the 4th quarter. Nemes Rush Group LLC now owns 1,855 shares of the mining company's stock worth $109,000 after purchasing an additional 169 shares in the last quarter. Aspen Wealth Strategies LLC increased its position in Rio Tinto by 3.7% during the 1st quarter. Aspen Wealth Strategies LLC now owns 4,810 shares of the mining company's stock worth $289,000 after purchasing an additional 172 shares in the last quarter. Walker Asset Management LLC increased its position in Rio Tinto by 4.8% during the 1st quarter. Walker Asset Management LLC now owns 4,326 shares of the mining company's stock worth $260,000 after purchasing an additional 200 shares in the last quarter. Finally, Quintet Private Bank Europe S.A. increased its position in Rio Tinto by 10.0% during the 1st quarter. Quintet Private Bank Europe S.A. now owns 2,200 shares of the mining company's stock worth $132,000 after purchasing an additional 200 shares in the last quarter. Institutional investors and hedge funds own 19.33% of the company's stock.

Rio Tinto Stock Up 1.6%

NYSE:RIO traded up $0.99 during trading hours on Friday, hitting $61.09. The stock had a trading volume of 4,462,438 shares, compared to its average volume of 3,114,775. The company has a current ratio of 1.63, a quick ratio of 1.13 and a debt-to-equity ratio of 0.23. Rio Tinto PLC has a 1-year low of $51.67 and a 1-year high of $72.08. The business has a 50 day simple moving average of $59.50 and a two-hundred day simple moving average of $60.06. The company has a market cap of $76.61 billion, a PE ratio of 9.47 and a beta of 0.66.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on RIO shares. Morgan Stanley downgraded shares of Rio Tinto from an "overweight" rating to an "equal weight" rating in a research report on Wednesday, April 9th. Wall Street Zen downgraded shares of Rio Tinto from a "strong-buy" rating to a "buy" rating in a research report on Monday, April 28th. Jefferies Financial Group reissued a "hold" rating on shares of Rio Tinto in a research report on Tuesday, June 3rd. Berenberg Bank reissued a "hold" rating on shares of Rio Tinto in a research report on Thursday, July 3rd. Finally, Barclays reaffirmed an "overweight" rating on shares of Rio Tinto in a research report on Wednesday, July 2nd. Five analysts have rated the stock with a hold rating, four have assigned a buy rating and three have given a strong buy rating to the company. According to MarketBeat.com, Rio Tinto currently 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.