Rio Tinto PLC (NYSE:RIO) Shares Purchased by Stonegate Investment Group LLC

Stonegate Investment Group LLC increased its stake in shares of Rio Tinto PLC (NYSE:RIO) by 3.0% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 7,025 shares of the mining company’s stock after acquiring an additional 206 shares during the period. Stonegate Investment Group LLC’s holdings in Rio Tinto were worth $422,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of RIO. Rhumbline Advisers lifted its position in Rio Tinto by 1.1% during the 4th quarter. Rhumbline Advisers now owns 24,793 shares of the mining company’s stock worth $1,458,000 after acquiring an additional 266 shares in the last quarter. Principal Securities Inc. lifted its position in Rio Tinto by 19.8% during the 4th quarter. Principal Securities Inc. now owns 3,011 shares of the mining company’s stock worth $177,000 after acquiring an additional 497 shares in the last quarter. Allworth Financial LP lifted its position in Rio Tinto by 47.6% during the 4th quarter. Allworth Financial LP now owns 1,792 shares of the mining company’s stock worth $110,000 after acquiring an additional 578 shares in the last quarter. Sanctuary Advisors LLC lifted its position in Rio Tinto by 7.9% during the 4th quarter. Sanctuary Advisors LLC now owns 30,760 shares of the mining company’s stock worth $1,874,000 after acquiring an additional 2,254 shares in the last quarter. Finally, Private Advisor Group LLC lifted its position in Rio Tinto by 35.1% during the 4th quarter. Private Advisor Group LLC now owns 36,921 shares of the mining company’s stock worth $2,171,000 after acquiring an additional 9,591 shares in the last quarter. 19.33% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Jefferies Financial Group reaffirmed a “hold” rating on shares of Rio Tinto in a research report on Tuesday, June 3rd. Morgan Stanley lowered Rio Tinto from an “overweight” rating to an “equal weight” rating in a research report on Wednesday, April 9th. Clarkson Capital raised Rio Tinto to a “strong-buy” rating in a research report on Friday, February 28th. JPMorgan Chase & Co. assumed coverage on Rio Tinto in a research report on Tuesday, March 18th. They issued an “overweight” rating on the stock. Finally, DZ Bank raised Rio Tinto from a “hold” rating to a “strong-buy” rating in a research report on Thursday, March 27th. 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 stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $73.00.

Rio Tinto Price Performance

Shares of NYSE RIO opened at $55.88 on Friday. Rio Tinto PLC has a twelve month low of $51.67 and a twelve month high of $72.08. The company has a current ratio of 1.63, a quick ratio of 1.13 and a debt-to-equity ratio of 0.23. The company has a market capitalization of $70.08 billion, a price-to-earnings ratio of 8.66 and a beta of 0.68. The business has a 50 day simple moving average of $59.66 and a 200-day simple moving average of $60.36.

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.