Hantz Financial Services Inc. Raises Stake in Rio Tinto PLC $RIO

Hantz Financial Services Inc. boosted its holdings in shares of Rio Tinto PLC (NYSE:RIO) by 606.1% during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 4,611 shares of the mining company’s stock after purchasing an additional 3,958 shares during the period. Hantz Financial Services Inc.’s holdings in Rio Tinto were worth $269,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of RIO. Wayfinding Financial LLC purchased a new position in Rio Tinto during the 1st quarter worth $30,000. Pandora Wealth Inc. purchased a new position in Rio Tinto during the 1st quarter worth $30,000. Hilltop National Bank purchased a new position in Rio Tinto during the 2nd quarter worth $44,000. Resources Management Corp CT ADV purchased a new stake in shares of Rio Tinto in the first quarter valued at about $48,000. Finally, Cary Street Partners Investment Advisory LLC boosted its holdings in shares of Rio Tinto by 65.1% in the first quarter. Cary Street Partners Investment Advisory LLC now owns 852 shares of the mining company’s stock valued at $51,000 after acquiring an additional 336 shares in the last quarter. 19.33% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Morgan Stanley reaffirmed an “overweight” rating on shares of Rio Tinto in a report on Wednesday, October 8th. Deutsche Bank Aktiengesellschaft downgraded shares of Rio Tinto from a “buy” rating to a “hold” rating in a report on Wednesday, July 30th. Zacks Research raised shares of Rio Tinto from a “hold” rating to a “strong-buy” rating in a report on Monday, October 6th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Rio Tinto in a report on Wednesday, October 8th. Three analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, Rio Tinto currently has a consensus rating of “Moderate Buy” and an average target price of $73.00.

Rio Tinto Stock Performance

RIO stock opened at $71.88 on Monday. Rio Tinto PLC has a 52 week low of $51.67 and a 52 week high of $73.76. The company’s 50-day moving average price is $65.76 and its 200 day moving average price is $62.11. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.53 and a quick ratio of 1.03.

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.