8,019 Shares in Rio Tinto PLC $RIO Acquired by Fund Advisors of America Inc FL

Fund Advisors of America Inc FL purchased a new position in Rio Tinto PLC (NYSE:RIO) in the fourth quarter, HoldingsChannel.com reports. The firm purchased 8,019 shares of the mining company’s stock, valued at approximately $642,000.

Several other large investors also recently bought and sold shares of RIO. PFS Partners LLC purchased a new position in shares of Rio Tinto in the fourth quarter valued at $28,000. Nvest Wealth Strategies Inc. purchased a new stake in Rio Tinto during the 4th quarter worth $28,000. Evelyn Partners Investment Management LLP acquired a new position in Rio Tinto in the 4th quarter worth $34,000. Trust Co. of Toledo NA OH acquired a new position in Rio Tinto in the 4th quarter worth $34,000. Finally, Glen Eagle Advisors LLC boosted its position in Rio Tinto by 32.2% in the 4th quarter. Glen Eagle Advisors LLC now owns 452 shares of the mining company’s stock valued at $36,000 after buying an additional 110 shares during the last quarter. Institutional investors and hedge funds own 19.33% of the company’s stock.

Analysts Set New Price Targets

RIO has been the subject of several recent analyst reports. JPMorgan Chase & Co. downgraded Rio Tinto from an “overweight” rating to a “neutral” rating in a research note on Monday, March 9th. Sanford C. Bernstein boosted their price target on Rio Tinto from $82.00 to $83.50 and gave the stock an “outperform” rating in a research note on Monday, April 27th. Weiss Ratings reissued a “buy (b-)” rating on shares of Rio Tinto in a report on Wednesday, May 20th. DZ Bank upgraded Rio Tinto from a “hold” rating to a “strong-buy” rating in a research note on Friday, May 29th. Finally, Argus set a $120.00 price objective on Rio Tinto in a report on Monday, April 27th. One 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 assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $101.75.

Rio Tinto Price Performance

NYSE:RIO opened at $100.22 on Friday. The company has a current ratio of 1.44, a quick ratio of 0.98 and a debt-to-equity ratio of 0.33. Rio Tinto PLC has a one year low of $55.64 and a one year high of $112.58. The stock has a 50-day simple moving average of $102.95 and a 200 day simple moving average of $93.10.

Rio Tinto 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.