Vectors Research Management LLC Buys 10,783 Shares of Rio Tinto PLC (NYSE:RIO)

Vectors Research Management LLC increased its holdings in shares of Rio Tinto PLC (NYSE:RIO - Free Report) by 136.1% in the first quarter, according to its most recent filing with the SEC. The fund owned 18,704 shares of the mining company's stock after acquiring an additional 10,783 shares during the period. Vectors Research Management LLC's holdings in Rio Tinto were worth $1,124,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. XTX Topco Ltd bought a new stake in shares of Rio Tinto during the 4th quarter worth approximately $1,241,000. Rossby Financial LCC bought a new stake in shares of Rio Tinto during the 4th quarter worth approximately $360,000. Farther Finance Advisors LLC lifted its stake in shares of Rio Tinto by 24.2% during the 1st quarter. Farther Finance Advisors LLC now owns 4,023 shares of the mining company's stock worth $242,000 after acquiring an additional 785 shares during the last quarter. Schroder Investment Management Group lifted its stake in shares of Rio Tinto by 3.2% during the 4th quarter. Schroder Investment Management Group now owns 32,258 shares of the mining company's stock worth $1,890,000 after acquiring an additional 1,009 shares during the last quarter. Finally, Norges Bank bought a new stake in Rio Tinto during the 4th quarter valued at $432,000. 19.33% of the stock is owned by institutional investors.

Analyst Ratings Changes

RIO has been the subject of a number of research analyst reports. Clarkson Capital raised Rio Tinto to a "strong-buy" rating in a research report on Friday, February 28th. Morgan Stanley lowered Rio Tinto from an "overweight" rating to an "equal weight" rating in a research report on Wednesday, April 9th. Jefferies Financial Group reaffirmed a "hold" rating on shares of Rio Tinto in a research report on Tuesday, June 3rd. DZ Bank raised Rio Tinto from a "hold" rating to a "strong-buy" rating in a research report on Thursday, March 27th. Finally, JPMorgan Chase & Co. initiated coverage on Rio Tinto in a research report on Tuesday, March 18th. They set an "overweight" rating for the company. Four equities research analysts have rated the stock with a hold rating, five have issued a buy rating and three have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $73.00.

Rio Tinto Stock Up 0.2%

Shares of RIO traded up $0.15 during trading hours on Friday, hitting $58.73. The company had a trading volume of 2,768,713 shares, compared to its average volume of 2,995,714. The company has a market capitalization of $73.64 billion, a PE ratio of 9.10 and a beta of 0.68. 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 one year low of $51.67 and a one year high of $72.08. The company's fifty day moving average price is $59.67 and its two-hundred day moving average price is $60.18.

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.