World Investment Advisors Raises Stock Holdings in Rio Tinto PLC $RIO

World Investment Advisors increased its stake in Rio Tinto PLC (NYSE:RIO) by 104.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 15,075 shares of the mining company’s stock after purchasing an additional 7,714 shares during the period. World Investment Advisors’ holdings in Rio Tinto were worth $1,207,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Auto Owners Insurance Co grew its stake in Rio Tinto by 7,903.0% in the 4th quarter. Auto Owners Insurance Co now owns 768,288 shares of the mining company’s stock worth $61,486,000 after buying an additional 758,688 shares in the last quarter. Hsbc Holdings PLC raised its position in shares of Rio Tinto by 160.5% during the 4th quarter. Hsbc Holdings PLC now owns 25,929 shares of the mining company’s stock valued at $2,075,000 after buying an additional 68,755 shares in the last quarter. Pure Financial Advisors LLC raised its position in shares of Rio Tinto by 24.6% during the 4th quarter. Pure Financial Advisors LLC now owns 5,344 shares of the mining company’s stock valued at $428,000 after buying an additional 1,056 shares in the last quarter. Rehmann Capital Advisory Group bought a new stake in shares of Rio Tinto during the 4th quarter worth $368,000. Finally, S Harris Financial Group LLC bought a new stake in shares of Rio Tinto during the 4th quarter worth $336,000. 19.33% of the stock is owned by hedge funds and other institutional investors.

Rio Tinto Stock Up 0.1%

Shares of RIO opened at $100.22 on Monday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.98 and a current ratio of 1.44. Rio Tinto PLC has a fifty-two week low of $55.64 and a fifty-two week high of $112.58. The firm has a 50 day moving average price of $102.95 and a 200-day moving average price of $93.25.

Wall Street Analysts Forecast Growth

RIO has been the subject of several research reports. Sanford C. Bernstein upped their target price on shares of Rio Tinto from $82.00 to $83.50 and gave the stock an “outperform” rating in a research report on Monday, April 27th. Royal Bank Of Canada downgraded Rio Tinto from a “sector perform” rating to an “underperform” rating in a research report on Wednesday, June 3rd. Argus set a $120.00 price target on Rio Tinto in a research note on Monday, April 27th. DZ Bank upgraded Rio Tinto from a “hold” rating to a “strong-buy” rating in a report on Friday, May 29th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “hold” rating on shares of Rio Tinto in a research report on Friday, May 15th. 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 given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $101.75.

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.