LFG Wealth Partners LLC Invests $2.46 Million in Rio Tinto PLC $RIO

LFG Wealth Partners LLC purchased a new position in Rio Tinto PLC (NYSE:RIO) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 30,731 shares of the mining company’s stock, valued at approximately $2,459,000. Rio Tinto accounts for 1.6% of LFG Wealth Partners LLC’s portfolio, making the stock its 20th biggest position.

Other large investors have also recently made changes to their positions in the company. Grantham Mayo Van Otterloo & Co. LLC grew its position in Rio Tinto by 21.6% during the third quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 1,126,445 shares of the mining company’s stock valued at $74,357,000 after buying an additional 199,962 shares during the period. Shrier Wealth Management LLC purchased a new position in shares of Rio Tinto in the fourth quarter worth $1,280,000. Fisher Asset Management LLC lifted its holdings in shares of Rio Tinto by 3.0% in the third quarter. Fisher Asset Management LLC now owns 19,120,168 shares of the mining company’s stock worth $1,262,122,000 after buying an additional 557,234 shares in the last quarter. Commons Capital LLC purchased a new position in shares of Rio Tinto in the third quarter worth $1,980,000. Finally, QSM Asset Management Ltd raised its stake in Rio Tinto by 32.1% during the fourth quarter. QSM Asset Management Ltd now owns 230,700 shares of the mining company’s stock valued at $18,463,000 after purchasing an additional 56,000 shares in the last quarter. 19.33% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on RIO shares. Bank of America downgraded shares of Rio Tinto from a “buy” rating to a “neutral” rating in a research note on Friday, May 22nd. Royal Bank Of Canada downgraded shares of Rio Tinto from a “sector perform” rating to an “underperform” rating in a research note on Wednesday, June 3rd. Sanford C. Bernstein upped their price target on shares of Rio Tinto from $82.00 to $83.50 and gave the company an “outperform” rating in a research note on Monday, April 27th. Argus set a $120.00 price target on shares of Rio Tinto in a research note on Monday, April 27th. Finally, Citigroup reaffirmed a “neutral” rating on shares of Rio Tinto in a research note on Tuesday, May 26th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $101.75.

Rio Tinto Trading Up 0.5%

Shares of RIO opened at $105.83 on Tuesday. Rio Tinto PLC has a twelve month low of $55.64 and a twelve month high of $112.58. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.44 and a quick ratio of 0.98. The company’s fifty day simple moving average is $102.40 and its 200-day simple moving average is $92.40.

About Rio Tinto

Rio Tinto is a global mining and metals company that explores for, mines, processes and markets a wide range of commodities. Its principal products include iron ore, aluminum, copper, diamonds and various other minerals and industrial materials. The company’s activities span the full value chain from exploration and project development to mining, processing, smelting and refining, supplying raw materials to industries such as steelmaking, automotive, packaging, electronics and construction.

The origins of Rio Tinto date back to mining operations in the Rio Tinto region of Spain in the 19th century, and the group has since grown into a multinational enterprise.