Rio Tinto PLC $RIO Shares Acquired by Northwestern Mutual Wealth Management Co.

Northwestern Mutual Wealth Management Co. increased its holdings in shares of Rio Tinto PLC (NYSE:RIO) by 11.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 53,256 shares of the mining company’s stock after purchasing an additional 5,534 shares during the quarter. Northwestern Mutual Wealth Management Co.’s holdings in Rio Tinto were worth $4,262,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Cubist Systematic Strategies LLC purchased a new position in Rio Tinto during the first quarter worth about $84,000. AQR Capital Management LLC raised its stake in shares of Rio Tinto by 78.4% in the 1st quarter. AQR Capital Management LLC now owns 12,087 shares of the mining company’s stock valued at $726,000 after acquiring an additional 5,310 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Rio Tinto by 20.7% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 11,485 shares of the mining company’s stock valued at $690,000 after acquiring an additional 1,968 shares during the period. Empowered Funds LLC lifted its holdings in shares of Rio Tinto by 5.8% in the 1st quarter. Empowered Funds LLC now owns 5,280 shares of the mining company’s stock worth $317,000 after acquiring an additional 288 shares during the last quarter. Finally, Focus Partners Wealth lifted its holdings in shares of Rio Tinto by 16.7% in the 1st quarter. Focus Partners Wealth now owns 15,985 shares of the mining company’s stock worth $962,000 after acquiring an additional 2,285 shares during the last quarter. 19.33% of the stock is currently owned by hedge funds and other institutional investors.

Rio Tinto Trading Down 2.2%

Shares of RIO stock opened at $105.49 on Friday. Rio Tinto PLC has a fifty-two week low of $55.64 and a fifty-two week high of $112.58. The company has a 50 day moving average price of $100.68 and a 200 day moving average price of $90.80. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.98 and a current ratio of 1.44.

Analysts Set New Price Targets

Several analysts recently weighed in on RIO shares. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating on shares of Rio Tinto in a report on Friday, May 15th. JPMorgan Chase & Co. cut Rio Tinto from an “overweight” rating to a “neutral” rating in a research note on Monday, March 9th. Argus set a $120.00 price target on Rio Tinto in a research report on Monday, April 27th. Sanford C. Bernstein lifted their price objective on Rio Tinto from $82.00 to $83.50 and gave the company an “outperform” rating in a research note on Monday, April 27th. Finally, Bank of America downgraded Rio Tinto from a “buy” rating to a “neutral” rating in a report on Friday, May 22nd. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $101.75.

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.