10,000 Shares in Rio Tinto PLC (NYSE:RIO) Acquired by TCTC Holdings LLC

TCTC Holdings LLC acquired a new stake in Rio Tinto PLC (NYSE:RIO - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 10,000 shares of the mining company's stock, valued at approximately $601,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Auto Owners Insurance Co grew its stake in Rio Tinto by 77,150.0% in the 1st quarter. Auto Owners Insurance Co now owns 7,416,000 shares of the mining company's stock valued at $445,553,000 after buying an additional 7,406,400 shares during the last quarter. Franklin Resources Inc. increased its stake in shares of Rio Tinto by 1.4% during the fourth quarter. Franklin Resources Inc. now owns 5,115,476 shares of the mining company's stock worth $300,841,000 after purchasing an additional 70,131 shares during the period. FMR LLC lifted its holdings in Rio Tinto by 24.6% during the 4th quarter. FMR LLC now owns 1,721,690 shares of the mining company's stock worth $101,253,000 after purchasing an additional 339,924 shares during the last quarter. Northern Trust Corp boosted its stake in Rio Tinto by 18.9% in the 4th quarter. Northern Trust Corp now owns 1,603,037 shares of the mining company's stock valued at $94,275,000 after purchasing an additional 255,151 shares during the period. Finally, Deutsche Bank AG increased its position in Rio Tinto by 143,872.8% during the 4th quarter. Deutsche Bank AG now owns 1,264,081 shares of the mining company's stock worth $74,341,000 after buying an additional 1,263,203 shares during the period. Institutional investors own 19.33% of the company's stock.

Rio Tinto Stock Performance

NYSE:RIO traded up $0.26 during trading hours on Thursday, reaching $59.75. The stock had a trading volume of 4,823,636 shares, compared to its average volume of 3,783,644. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.13 and a current ratio of 1.63. The stock has a market cap of $74.92 billion, a P/E ratio of 9.26 and a beta of 0.66. Rio Tinto PLC has a 12-month low of $51.67 and a 12-month high of $72.08. The stock has a 50 day simple moving average of $59.58 and a 200 day simple moving average of $60.31.

Wall Street Analyst Weigh In

Several brokerages have weighed in on RIO. Berenberg Bank reiterated a "hold" rating on shares of Rio Tinto in a research note on Thursday, July 3rd. Morgan Stanley reissued an "overweight" rating on shares of Rio Tinto in a research report on Monday, July 14th. Wall Street Zen cut Rio Tinto from a "strong-buy" rating to a "buy" rating in a report on Monday, April 28th. Jefferies Financial Group reissued a "hold" rating on shares of Rio Tinto in a report on Tuesday, June 3rd. Finally, Deutsche Bank Aktiengesellschaft cut Rio Tinto from a "buy" rating to a "hold" rating in a research report on Wednesday. Five analysts have rated the stock with a hold rating, four have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price 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.