TrueMark Investments LLC Acquires Shares of 25,853 Rio Tinto PLC (NYSE:RIO)

TrueMark Investments LLC bought a new position in Rio Tinto PLC (NYSE:RIO - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 25,853 shares of the mining company's stock, valued at approximately $1,553,000.

A number of other large investors also recently modified their holdings of the stock. Rakuten Securities Inc. raised its position in Rio Tinto by 74.8% in the 4th quarter. Rakuten Securities Inc. now owns 493 shares of the mining company's stock worth $29,000 after purchasing an additional 211 shares during the last quarter. Mechanics Financial Corp acquired a new stake in Rio Tinto during the 4th quarter worth $29,000. Bfsg LLC increased its holdings in shares of Rio Tinto by 5,754.5% in the first quarter. Bfsg LLC now owns 644 shares of the mining company's stock worth $39,000 after acquiring an additional 633 shares in the last quarter. Ameriflex Group Inc. bought a new stake in shares of Rio Tinto in the fourth quarter worth about $47,000. Finally, SJS Investment Consulting Inc. raised its position in shares of Rio Tinto by 577.9% during the first quarter. SJS Investment Consulting Inc. now owns 922 shares of the mining company's stock worth $55,000 after purchasing an additional 786 shares during the period. 19.33% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts recently issued reports on RIO shares. Wall Street Zen lowered Rio Tinto from a "strong-buy" rating to a "buy" rating in a research report on Monday, April 28th. Clarkson Capital raised shares of Rio Tinto to a "strong-buy" rating in a research report on Friday, February 28th. Morgan Stanley cut shares of Rio Tinto from an "overweight" rating to an "equal weight" rating in a research report on Wednesday, April 9th. Barclays reaffirmed an "overweight" rating on shares of Rio Tinto in a research note on Wednesday, April 16th. Finally, JPMorgan Chase & Co. initiated coverage on Rio Tinto in a research note on Tuesday, March 18th. They issued an "overweight" rating on the stock. Four research 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. According to data from MarketBeat, Rio Tinto presently has a consensus rating of "Moderate Buy" and an average target price of $73.00.

Rio Tinto Trading Down 1.9%

Shares of NYSE:RIO opened at $55.88 on Monday. The company's 50-day moving average price is $59.66 and its two-hundred day moving average price is $60.34. Rio Tinto PLC has a one year low of $51.67 and a one year high of $72.08. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.63 and a quick ratio of 1.13. The stock has a market capitalization of $70.08 billion, a PE ratio of 8.66 and a beta of 0.68.

About Rio Tinto

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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