Uncommon Cents Investing LLC Acquires 1,135 Shares of Rio Tinto PLC (NYSE:RIO)

Uncommon Cents Investing LLC boosted its holdings in shares of Rio Tinto PLC (NYSE:RIO) by 2.0% in the first quarter, HoldingsChannel reports. The fund owned 58,305 shares of the mining company’s stock after acquiring an additional 1,135 shares during the period. Rio Tinto accounts for 1.0% of Uncommon Cents Investing LLC’s portfolio, making the stock its 26th biggest holding. Uncommon Cents Investing LLC’s holdings in Rio Tinto were worth $3,503,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the business. XTX Topco Ltd bought a new position in shares of Rio Tinto during the fourth quarter valued at approximately $1,241,000. Rossby Financial LCC purchased a new stake in shares of Rio Tinto in the 4th quarter worth approximately $360,000. Farther Finance Advisors LLC increased its position in Rio Tinto by 24.2% during 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 in the last quarter. Schroder Investment Management Group increased its position in Rio Tinto by 3.2% during 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 in the last quarter. Finally, Norges Bank purchased a new position in Rio Tinto during the fourth quarter valued at $432,000. Institutional investors own 19.33% of the company’s stock.

Rio Tinto Trading Down 1.9%

Shares of NYSE:RIO opened at $55.88 on Monday. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.63 and a quick ratio of 1.13. Rio Tinto PLC has a 1 year low of $51.67 and a 1 year high of $72.08. The company has a market cap of $70.08 billion, a P/E ratio of 8.66 and a beta of 0.68. The stock’s fifty day moving average price is $59.66 and its 200-day moving average price is $60.34.

Analyst Ratings Changes

RIO has been the topic of a number of recent research reports. DZ Bank raised Rio Tinto from a “hold” rating to a “strong-buy” rating in a research note on Thursday, March 27th. JPMorgan Chase & Co. started coverage on Rio Tinto in a research report on Tuesday, March 18th. They issued an “overweight” rating for the company. Morgan Stanley downgraded shares of Rio Tinto from an “overweight” rating to an “equal weight” rating in a research report on Wednesday, April 9th. Clarkson Capital upgraded shares of Rio Tinto to a “strong-buy” rating in a research note on Friday, February 28th. Finally, Wall Street Zen cut shares of Rio Tinto from a “strong-buy” rating to a “buy” rating in a report on Monday, April 28th. Four 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. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $73.00.

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.