Rio Tinto PLC $RIO Shares Purchased by Osaic Holdings Inc.

Osaic Holdings Inc. grew its position in shares of Rio Tinto PLC (NYSE:RIO) by 54.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 253,358 shares of the mining company’s stock after purchasing an additional 88,829 shares during the period. Osaic Holdings Inc.’s holdings in Rio Tinto were worth $14,791,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of RIO. Amundi boosted its position in Rio Tinto by 224.0% during the first quarter. Amundi now owns 230,891 shares of the mining company’s stock worth $13,491,000 after acquiring an additional 159,636 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in shares of Rio Tinto during the 1st quarter worth $357,000. Assetmark Inc. lifted its stake in shares of Rio Tinto by 8.1% during the 2nd quarter. Assetmark Inc. now owns 70,330 shares of the mining company’s stock worth $4,102,000 after purchasing an additional 5,259 shares during the period. Soltis Investment Advisors LLC boosted its holdings in shares of Rio Tinto by 6.3% during the second quarter. Soltis Investment Advisors LLC now owns 140,546 shares of the mining company’s stock worth $8,198,000 after purchasing an additional 8,314 shares during the last quarter. Finally, Acadian Asset Management LLC boosted its holdings in shares of Rio Tinto by 37.9% during the first quarter. Acadian Asset Management LLC now owns 57,595 shares of the mining company’s stock worth $3,458,000 after purchasing an additional 15,839 shares during the last quarter. 19.33% of the stock is currently owned by hedge funds and other institutional investors.

Rio Tinto Trading Up 0.6%

Shares of NYSE:RIO opened at $77.66 on Friday. The stock has a 50-day simple moving average of $71.39 and a 200-day simple moving average of $64.83. Rio Tinto PLC has a 1 year low of $51.67 and a 1 year high of $77.85. The company has a current ratio of 1.53, a quick ratio of 1.03 and a debt-to-equity ratio of 0.37.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. Zacks Research lowered Rio Tinto from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 19th. Morgan Stanley reaffirmed an “overweight” rating on shares of Rio Tinto in a research note on Tuesday. Argus increased their price objective on shares of Rio Tinto from $70.00 to $85.00 and gave the stock a “buy” rating in a report on Thursday, December 11th. Weiss Ratings restated a “hold (c+)” rating on shares of Rio Tinto in a report on Monday. Finally, Citigroup reaffirmed a “hold” rating on shares of Rio Tinto in a research report on Monday, November 17th. Two investment analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and seven have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $79.00.

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.