American Institute for Advanced Investment Management LLP Takes Position in Rio Tinto PLC $RIO

American Institute for Advanced Investment Management LLP purchased a new position in Rio Tinto PLC (NYSE:RIO) in the 1st quarter, HoldingsChannel.com reports. The fund purchased 5,765 shares of the mining company’s stock, valued at approximately $538,000.

A number of other large investors also recently added to or reduced their stakes in the stock. Key Financial Inc grew its position in shares of Rio Tinto by 57.7% in the first quarter. Key Financial Inc now owns 552 shares of the mining company’s stock valued at $51,000 after purchasing an additional 202 shares during the period. Mayflower Financial Advisors LLC raised its position in shares of Rio Tinto by 6.0% during the 1st quarter. Mayflower Financial Advisors LLC now owns 3,480 shares of the mining company’s stock worth $325,000 after purchasing an additional 196 shares during the last quarter. Simmons Bank purchased a new position in Rio Tinto in the 1st quarter valued at about $226,000. Apollon Wealth Management LLC lifted its stake in Rio Tinto by 29.3% in the 1st quarter. Apollon Wealth Management LLC now owns 5,185 shares of the mining company’s stock valued at $484,000 after buying an additional 1,174 shares in the last quarter. Finally, Louisbourg Investments Inc. boosted its holdings in Rio Tinto by 14.5% in the 1st quarter. Louisbourg Investments Inc. now owns 11,080 shares of the mining company’s stock worth $1,034,000 after buying an additional 1,400 shares during the last quarter. 19.33% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have commented on RIO. Royal Bank Of Canada cut Rio Tinto from a “sector perform” rating to an “underperform” rating in a report on Wednesday, June 3rd. Deutsche Bank Aktiengesellschaft reissued a “hold” rating on shares of Rio Tinto in a research note on Friday, May 15th. Bank of America lowered Rio Tinto from a “buy” rating to a “neutral” rating in a report on Friday, May 22nd. Zacks Research cut shares of Rio Tinto from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 7th. Finally, Argus set a $120.00 target price on shares of Rio Tinto in a report on Monday, April 27th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Rio Tinto currently has an average rating of “Hold” and an average price target of $101.75.

Rio Tinto Stock Up 0.7%

RIO opened at $94.94 on Wednesday. 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 50 day simple moving average is $102.45 and its two-hundred day simple moving average is $94.31. Rio Tinto PLC has a 1-year low of $57.65 and a 1-year high of $112.58.

Rio Tinto Company Profile

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.