Pin Oak Investment Advisors Inc. Has $97,000 Holdings in Rio Tinto PLC (NYSE:RIO)

Pin Oak Investment Advisors Inc. lifted its holdings in Rio Tinto PLC (NYSE:RIO) by 537.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,614 shares of the mining company’s stock after purchasing an additional 1,361 shares during the period. Pin Oak Investment Advisors Inc.’s holdings in Rio Tinto were worth $97,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of RIO. Auto Owners Insurance Co lifted its stake in shares of Rio Tinto by 77,150.0% in the 1st quarter. Auto Owners Insurance Co now owns 7,416,000 shares of the mining company’s stock valued at $445,553,000 after purchasing an additional 7,406,400 shares during the last quarter. Deutsche Bank AG lifted its stake in shares of Rio Tinto by 143,872.8% in the 4th quarter. Deutsche Bank AG now owns 1,264,081 shares of the mining company’s stock valued at $74,341,000 after purchasing an additional 1,263,203 shares during the last quarter. Dynamo Internacional Gestao DE Recursos LTDA. lifted its stake in shares of Rio Tinto by 119.2% in the 4th quarter. Dynamo Internacional Gestao DE Recursos LTDA. now owns 129,804 shares of the mining company’s stock valued at $2,423,000 after purchasing an additional 807,610 shares during the last quarter. Paloma Partners Management Co acquired a new stake in shares of Rio Tinto in the 4th quarter valued at $40,032,000. Finally, Raymond James Financial Inc. acquired a new stake in shares of Rio Tinto in the 4th quarter valued at $29,606,000. Institutional investors and hedge funds own 19.33% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on RIO shares. Jefferies Financial Group reaffirmed a “hold” rating on shares of Rio Tinto in a research note on Tuesday, June 3rd. Barclays reissued an “overweight” rating on shares of Rio Tinto in a research report on Wednesday, July 2nd. Berenberg Bank reissued a “hold” rating on shares of Rio Tinto in a research report on Thursday, July 3rd. Wall Street Zen lowered shares of Rio Tinto from a “strong-buy” rating to a “buy” rating in a research report on Monday, April 28th. Finally, Morgan Stanley reissued an “overweight” rating on shares of Rio Tinto in a research report on Monday, July 14th. Four equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $73.00.

Rio Tinto Stock Down 1.1%

Shares of RIO opened at $63.11 on Monday. The company has a 50-day simple moving average of $59.63 and a 200-day simple moving average of $60.28. The firm has a market capitalization of $79.14 billion, a P/E ratio of 9.78 and a beta of 0.66. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.13 and a current ratio of 1.63. Rio Tinto PLC has a 52 week low of $51.67 and a 52 week high of $72.08.

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.