AssuredPartners Investment Advisors LLC Buys 1,723 Shares of Rio Tinto PLC (NYSE:RIO)

AssuredPartners Investment Advisors LLC lifted its stake in shares of Rio Tinto PLC (NYSE:RIO) by 10.8% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 17,675 shares of the mining company’s stock after purchasing an additional 1,723 shares during the period. AssuredPartners Investment Advisors LLC’s holdings in Rio Tinto were worth $1,062,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in RIO. Rhumbline Advisers raised its stake in shares of 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 purchasing an additional 266 shares in the last quarter. Principal Securities Inc. raised its stake in shares of 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 purchasing an additional 497 shares in the last quarter. Allworth Financial LP raised its stake in shares of 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 purchasing an additional 578 shares in the last quarter. Sanctuary Advisors LLC raised its stake in shares of 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 purchasing an additional 2,254 shares in the last quarter. Finally, Private Advisor Group LLC raised its stake in shares of 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 purchasing an additional 9,591 shares in the last quarter. Institutional investors own 19.33% of the company’s stock.

Rio Tinto Stock Up 2.1%

RIO opened at $57.09 on Tuesday. Rio Tinto PLC has a fifty-two week low of $51.67 and a fifty-two week high of $72.08. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.13 and a current ratio of 1.63. The company has a market capitalization of $71.59 billion, a P/E ratio of 8.85 and a beta of 0.68. The stock has a fifty day moving average of $59.66 and a 200-day moving average of $60.31.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the company. Morgan Stanley cut Rio Tinto from an “overweight” rating to an “equal weight” rating in a research note on Wednesday, April 9th. DZ Bank upgraded Rio Tinto from a “hold” rating to a “strong-buy” rating in a research note on Thursday, March 27th. Wall Street Zen cut Rio Tinto from a “strong-buy” rating to a “buy” rating in a research note on Monday, April 28th. JPMorgan Chase & Co. began coverage on Rio Tinto in a research note on Tuesday, March 18th. They issued an “overweight” rating on the stock. Finally, Jefferies Financial Group restated a “hold” rating on shares of Rio Tinto in a research note on Tuesday, June 3rd. Four equities research analysts have rated the stock with a hold rating, five have issued a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus 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.