Foresight Global Investors Inc. Increases Stock Position in Rio Tinto PLC $RIO

Foresight Global Investors Inc. raised its stake in shares of Rio Tinto PLC (NYSE:RIO) by 3.0% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 36,255 shares of the mining company’s stock after purchasing an additional 1,060 shares during the period. Rio Tinto accounts for approximately 1.5% of Foresight Global Investors Inc.’s holdings, making the stock its 11th biggest position. Foresight Global Investors Inc.’s holdings in Rio Tinto were worth $2,115,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. IFP Advisors Inc grew its holdings in Rio Tinto by 27.7% during the 1st quarter. IFP Advisors Inc now owns 1,324 shares of the mining company’s stock valued at $80,000 after buying an additional 287 shares in the last quarter. AE Wealth Management LLC boosted its position in shares of Rio Tinto by 6.3% during the 1st quarter. AE Wealth Management LLC now owns 9,390 shares of the mining company’s stock valued at $564,000 after acquiring an additional 556 shares during the last quarter. Cetera Investment Advisers grew its holdings in shares of Rio Tinto by 6.7% in the first quarter. Cetera Investment Advisers now owns 76,650 shares of the mining company’s stock valued at $4,605,000 after purchasing an additional 4,832 shares in the last quarter. HB Wealth Management LLC bought a new stake in Rio Tinto in the first quarter worth $299,000. Finally, TCTC Holdings LLC bought a new stake in Rio Tinto in the first quarter worth $601,000. 19.33% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have commented on RIO shares. Zacks Research lowered shares of Rio Tinto from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 19th. Deutsche Bank Aktiengesellschaft downgraded Rio Tinto from a “buy” rating to a “hold” rating in a research report on Wednesday, July 30th. Citigroup reiterated a “hold” rating on shares of Rio Tinto in a research report on Monday, November 17th. Weiss Ratings restated a “hold (c)” rating on shares of Rio Tinto in a report on Wednesday, October 8th. Finally, Morgan Stanley reaffirmed an “overweight” rating on shares of Rio Tinto in a research note on Wednesday, October 8th. Two analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, Rio Tinto has an average rating of “Moderate Buy” and a consensus target price of $73.00.

Rio Tinto Price Performance

Shares of NYSE:RIO opened at $72.24 on Thursday. The firm’s 50 day simple moving average is $68.42 and its 200-day simple moving average is $63.40. The company has a quick ratio of 1.03, a current ratio of 1.53 and a debt-to-equity ratio of 0.37. Rio Tinto PLC has a one year low of $51.67 and a one year high of $73.76.

Rio Tinto Company Profile

Rio Tinto Group engages in exploring, mining, and processing mineral resources worldwide. The company operates through Iron Ore, Aluminium, Copper, and Minerals Segments. The Iron Ore segment engages in the iron ore mining, and salt and gypsum production in Western Australia. The Aluminum segment is involved in bauxite mining; alumina refining; and aluminium smelting.