Rio Tinto PLC $RIO Holdings Lifted by Kestra Private Wealth Services LLC

Kestra Private Wealth Services LLC grew its holdings in shares of Rio Tinto PLC (NYSE:RIO) by 47.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 18,122 shares of the mining company’s stock after buying an additional 5,794 shares during the period. Kestra Private Wealth Services LLC’s holdings in Rio Tinto were worth $1,691,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Arrowstreet Capital Limited Partnership raised its stake in Rio Tinto by 170.8% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 3,886,335 shares of the mining company’s stock valued at $311,023,000 after acquiring an additional 2,451,140 shares in the last quarter. Milford Funds Ltd. acquired a new position in shares of Rio Tinto during the fourth quarter valued at $93,143,000. Deutsche Bank AG raised its stake in shares of Rio Tinto by 102.6% during the fourth quarter. Deutsche Bank AG now owns 2,216,935 shares of the mining company’s stock valued at $177,421,000 after purchasing an additional 1,122,667 shares in the last quarter. Natixis Advisors LLC lifted its holdings in Rio Tinto by 144.7% in the fourth quarter. Natixis Advisors LLC now owns 1,587,387 shares of the mining company’s stock worth $127,039,000 after purchasing an additional 938,687 shares during the period. Finally, Bank of America Corp DE grew its position in Rio Tinto by 31.9% in the 3rd quarter. Bank of America Corp DE now owns 3,157,545 shares of the mining company’s stock valued at $208,430,000 after buying an additional 763,786 shares in the last quarter. 19.33% of the stock is owned by institutional investors.

Rio Tinto Price Performance

Shares of Rio Tinto stock opened at $94.27 on Tuesday. Rio Tinto PLC has a 52 week low of $57.65 and a 52 week high of $112.58. The company has a current ratio of 1.44, a quick ratio of 0.98 and a debt-to-equity ratio of 0.33. The company’s 50-day moving average price is $102.56 and its two-hundred day moving average price is $94.18.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Zacks Research downgraded shares of Rio Tinto from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 7th. Sanford C. Bernstein increased their price objective on shares of Rio Tinto from $82.00 to $83.50 and gave the company an “outperform” rating in a report on Monday, April 27th. Bank of America lowered shares of Rio Tinto from a “buy” rating to a “neutral” rating in a research note on Friday, May 22nd. JPMorgan Chase & Co. cut Rio Tinto from an “overweight” rating to a “neutral” rating in a report on Monday, March 9th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating on shares of Rio Tinto in a research note on Friday, May 15th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $101.75.

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.