Vontobel Holding Ltd. Acquires 4,488 Shares of Rio Tinto PLC (NYSE:RIO)

Vontobel Holding Ltd. lifted its position in Rio Tinto PLC (NYSE:RIO - Free Report) by 48.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 13,700 shares of the mining company's stock after buying an additional 4,488 shares during the quarter. Vontobel Holding Ltd.'s holdings in Rio Tinto were worth $823,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Rakuten Securities Inc. increased its holdings in Rio Tinto by 74.8% during 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 period. Mechanics Financial Corp purchased a new position in shares of Rio Tinto in the 4th quarter valued at about $29,000. Alpine Bank Wealth Management purchased a new position in shares of Rio Tinto in the 1st quarter valued at about $30,000. Bfsg LLC boosted its position in shares of Rio Tinto by 5,754.5% in the 1st quarter. Bfsg LLC now owns 644 shares of the mining company's stock valued at $39,000 after purchasing an additional 633 shares during the period. Finally, Ameriflex Group Inc. acquired a new stake in Rio Tinto during the 4th quarter worth approximately $47,000. Hedge funds and other institutional investors own 19.33% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on RIO shares. Wall Street Zen downgraded Rio Tinto from a "strong-buy" rating to a "buy" rating in a research note on Monday, April 28th. Berenberg Bank reaffirmed a "hold" rating on shares of Rio Tinto in a research report on Thursday, July 3rd. JPMorgan Chase & Co. began coverage on Rio Tinto in a research note on Tuesday, March 18th. They issued an "overweight" rating for the company. Barclays reissued an "overweight" rating on shares of Rio Tinto in a report on Wednesday, July 2nd. Finally, Jefferies Financial Group reaffirmed a "hold" rating on shares of Rio Tinto in a research note on Tuesday, June 3rd. Five equities research analysts have rated the stock with a hold rating, four have issued a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat.com, Rio Tinto presently has a consensus rating of "Moderate Buy" and a consensus price target of $73.00.

Rio Tinto Price Performance

Shares of Rio Tinto stock traded up $1.07 during midday trading on Tuesday, reaching $58.73. The company had a trading volume of 4,165,887 shares, compared to its average volume of 3,065,959. The stock has a fifty day simple moving average of $59.49 and a 200 day simple moving average of $60.05. 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 1-year low of $51.67 and a 1-year high of $72.08. The company has a market capitalization of $73.65 billion, a price-to-earnings ratio of 9.11 and a beta of 0.66.

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.