XML Financial LLC purchased a new stake in shares of Rio Tinto PLC (NYSE:RIO - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 5,315 shares of the mining company's stock, valued at approximately $319,000.
Other institutional investors and hedge funds have also recently modified their holdings of the company. XTX Topco Ltd acquired a new position in shares of Rio Tinto during the 4th quarter valued at about $1,241,000. Rossby Financial LCC purchased a new stake in Rio Tinto in the 4th quarter valued at about $360,000. Farther Finance Advisors LLC raised its holdings in Rio Tinto by 24.2% in the 1st quarter. Farther Finance Advisors LLC now owns 4,023 shares of the mining company's stock valued at $242,000 after buying an additional 785 shares during the period. Schroder Investment Management Group raised its holdings in Rio Tinto by 3.2% in the 4th quarter. Schroder Investment Management Group now owns 32,258 shares of the mining company's stock valued at $1,890,000 after buying an additional 1,009 shares during the period. Finally, Norges Bank purchased a new stake in Rio Tinto in the 4th quarter valued at about $432,000. Institutional investors and hedge funds own 19.33% of the company's stock.
Rio Tinto Stock Down 0.8%
Shares of RIO stock traded down $0.46 during trading on Wednesday, reaching $56.73. The company's stock had a trading volume of 3,272,684 shares, compared to its average volume of 2,980,050. 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 company has a market capitalization of $71.14 billion, a price-to-earnings ratio of 8.80 and a beta of 0.68. The stock's 50-day moving average price is $59.65 and its 200 day moving average price is $60.26. Rio Tinto PLC has a 1-year low of $51.67 and a 1-year high of $72.08.
Wall Street Analyst Weigh In
Several brokerages recently issued reports on RIO. Clarkson Capital upgraded shares of Rio Tinto to a "strong-buy" rating in a report on Friday, February 28th. DZ Bank upgraded shares of Rio Tinto from a "hold" rating to a "strong-buy" rating in a report on Thursday, March 27th. Barclays restated an "overweight" rating on shares of Rio Tinto in a report on Wednesday, April 16th. Wall Street Zen lowered shares of Rio Tinto from a "strong-buy" rating to a "buy" rating in a report on Monday, April 28th. Finally, Jefferies Financial Group restated a "hold" rating on shares of Rio Tinto in a report on Tuesday, June 3rd. Four 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.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $73.00.
Get Our Latest Stock Report on RIO
Rio Tinto Company Profile
(
Free Report)
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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