QRG Capital Management Inc. Buys 14,249 Shares of Rio Tinto PLC (NYSE:RIO)

QRG Capital Management Inc. boosted its position in shares of Rio Tinto PLC (NYSE:RIO - Free Report) by 15.4% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 107,011 shares of the mining company's stock after acquiring an additional 14,249 shares during the period. QRG Capital Management Inc.'s holdings in Rio Tinto were worth $6,429,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of RIO. Empowered Funds LLC grew its stake in shares of Rio Tinto by 39.9% in the fourth quarter. Empowered Funds LLC now owns 4,992 shares of the mining company's stock worth $294,000 after acquiring an additional 1,425 shares during the last quarter. Allspring Global Investments Holdings LLC grew its stake in shares of Rio Tinto by 118.4% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 99,853 shares of the mining company's stock worth $5,868,000 after acquiring an additional 54,130 shares during the last quarter. Vontobel Holding Ltd. grew its stake in shares of Rio Tinto by 3.4% in the fourth quarter. Vontobel Holding Ltd. now owns 9,212 shares of the mining company's stock worth $542,000 after acquiring an additional 302 shares during the last quarter. Rhumbline Advisers grew its stake in shares of Rio Tinto by 1.1% in the fourth quarter. Rhumbline Advisers now owns 24,793 shares of the mining company's stock worth $1,458,000 after acquiring an additional 266 shares during the last quarter. Finally, Principal Securities Inc. grew its stake in shares of Rio Tinto by 19.8% in the fourth quarter. Principal Securities Inc. now owns 3,011 shares of the mining company's stock worth $177,000 after acquiring an additional 497 shares during the last quarter. Institutional investors and hedge funds own 19.33% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on RIO shares. DZ Bank upgraded shares of Rio Tinto from a "hold" rating to a "strong-buy" rating in a research note on Thursday, March 27th. Clarkson Capital upgraded shares of Rio Tinto to a "strong-buy" rating in a research note on Friday, February 28th. Barclays restated an "overweight" rating on shares of Rio Tinto in a research note 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, Jefferies Financial Group reaffirmed a "hold" rating on shares of Rio Tinto in a research report on Tuesday, June 3rd. Four 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's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $73.00.

Rio Tinto Stock Performance

RIO stock traded down $1.06 during midday trading on Friday, hitting $55.88. The stock had a trading volume of 4,665,626 shares, compared to its average volume of 2,965,336. The firm has a market capitalization of $70.08 billion, a price-to-earnings ratio of 8.66 and a beta of 0.68. Rio Tinto PLC has a 52 week low of $51.67 and a 52 week high of $72.08. The stock has a 50-day simple moving average of $59.66 and a 200 day simple moving average of $60.36. 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 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.