Rio Tinto PLC (NYSE:RIO) Shares Acquired by QRG Capital Management Inc.

QRG Capital Management Inc. increased its stake in Rio Tinto PLC (NYSE:RIO - Free Report) by 15.4% during the 1st quarter, according to its most recent Form 13F filing with the 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 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of RIO. Deutsche Bank AG raised its holdings in Rio Tinto by 143,872.8% in the fourth quarter. Deutsche Bank AG now owns 1,264,081 shares of the mining company's stock valued at $74,341,000 after buying an additional 1,263,203 shares during the period. Dynamo Internacional Gestao DE Recursos LTDA. raised its holdings in Rio Tinto by 119.2% in the fourth quarter. Dynamo Internacional Gestao DE Recursos LTDA. now owns 129,804 shares of the mining company's stock valued at $2,423,000 after buying an additional 807,610 shares during the period. Paloma Partners Management Co purchased a new position in Rio Tinto in the fourth quarter valued at approximately $40,032,000. Raymond James Financial Inc. purchased a new position in Rio Tinto in the fourth quarter valued at approximately $29,606,000. Finally, Ameriprise Financial Inc. raised its holdings in Rio Tinto by 169.4% in the fourth quarter. Ameriprise Financial Inc. now owns 619,494 shares of the mining company's stock valued at $36,428,000 after buying an additional 389,531 shares during the period. Hedge funds and other institutional investors own 19.33% of the company's stock.

Analyst Ratings Changes

Several research analysts recently commented on the stock. Morgan Stanley lowered shares of Rio Tinto from an "overweight" rating to an "equal weight" rating in a report on Wednesday, April 9th. Wall Street Zen lowered shares of Rio Tinto from a "strong-buy" rating to a "buy" rating in a research note on Monday, April 28th. DZ Bank upgraded shares of Rio Tinto from a "hold" rating to a "strong-buy" rating in a research note on Thursday, March 27th. Jefferies Financial Group restated a "hold" rating on shares of Rio Tinto in a research note on Tuesday, June 3rd. Finally, JPMorgan Chase & Co. initiated coverage on shares of Rio Tinto in a research note on Tuesday, March 18th. They issued an "overweight" rating for the company. Four investment analysts have rated the stock with a hold rating, five have issued a buy rating and three have issued a strong buy rating to the company's stock. According to MarketBeat.com, Rio Tinto presently has a consensus rating of "Moderate Buy" and an average target price of $73.00.

Rio Tinto Price Performance

Shares of RIO stock opened at $57.04 on Wednesday. The company has a market capitalization of $71.53 billion, a PE ratio of 8.84 and a beta of 0.68. The firm has a fifty day simple moving average of $59.61 and a 200-day simple moving average of $60.51. 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 twelve month low of $51.67 and a twelve month high of $72.08.

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.

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