Stephens Inc. AR Boosts Stake in Rio Tinto PLC (NYSE:RIO)

Stephens Inc. AR lifted its stake in shares of Rio Tinto PLC (NYSE:RIO - Free Report) by 43.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 79,873 shares of the mining company's stock after purchasing an additional 24,200 shares during the period. Stephens Inc. AR's holdings in Rio Tinto were worth $4,799,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of RIO. Mechanics Financial Corp purchased a new stake in shares of Rio Tinto during the 4th quarter worth approximately $29,000. Alpine Bank Wealth Management bought a new position in Rio Tinto in the 1st quarter worth approximately $30,000. Wayfinding Financial LLC bought a new position in Rio Tinto in the 1st quarter worth approximately $30,000. Bfsg LLC boosted its holdings in Rio Tinto by 5,754.5% in the 1st quarter. Bfsg LLC now owns 644 shares of the mining company's stock worth $39,000 after buying an additional 633 shares during the period. Finally, Ameriflex Group Inc. bought a new position in Rio Tinto in the 4th quarter worth approximately $47,000. Hedge funds and other institutional investors own 19.33% of the company's stock.

Rio Tinto Price Performance

NYSE:RIO traded up $1.26 during trading hours on Wednesday, hitting $59.73. The stock had a trading volume of 3,397,580 shares, compared to its average volume of 3,116,581. The company has a 50 day simple moving average of $59.47 and a two-hundred day simple moving average of $60.06. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.63 and a quick ratio of 1.13. Rio Tinto PLC has a one year low of $51.67 and a one year high of $72.08. The firm has a market capitalization of $74.91 billion, a price-to-earnings ratio of 9.26 and a beta of 0.66.

Analyst Upgrades and Downgrades

RIO has been the subject of several analyst reports. Jefferies Financial Group reaffirmed a "hold" rating on shares of Rio Tinto in a report on Tuesday, June 3rd. Berenberg Bank reaffirmed a "hold" rating on shares of Rio Tinto in a report on Thursday, July 3rd. Wall Street Zen downgraded shares of Rio Tinto from a "strong-buy" rating to a "buy" rating in a report on Monday, April 28th. DZ Bank raised shares of Rio Tinto from a "hold" rating to a "strong-buy" rating in a report on Thursday, March 27th. Finally, JPMorgan Chase & Co. assumed coverage on shares of Rio Tinto in a report 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 assigned a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat.com, Rio Tinto currently has an average rating of "Moderate Buy" and a consensus price target of $73.00.

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.