Rio Tinto PLC $RIO Shares Bought by Advisors Asset Management Inc.

Advisors Asset Management Inc. increased its position in shares of Rio Tinto PLC (NYSE:RIO) by 3.8% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 91,104 shares of the mining company’s stock after buying an additional 3,362 shares during the quarter. Advisors Asset Management Inc.’s holdings in Rio Tinto were worth $5,314,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in RIO. Pandora Wealth Inc. acquired a new stake in Rio Tinto during the first quarter worth $30,000. MTM Investment Management LLC acquired a new position in Rio Tinto during the 2nd quarter worth $43,000. Hilltop National Bank purchased a new stake in Rio Tinto during the 2nd quarter worth about $44,000. Resources Management Corp CT ADV acquired a new stake in Rio Tinto in the 1st quarter valued at about $48,000. Finally, Cary Street Partners Investment Advisory LLC raised its position in Rio Tinto by 65.1% in the 1st quarter. Cary Street Partners Investment Advisory LLC now owns 852 shares of the mining company’s stock valued at $51,000 after purchasing an additional 336 shares in the last quarter. 19.33% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Rio Tinto Trading Up 1.6%

NYSE RIO opened at $72.24 on Thursday. The business’s 50-day moving average price is $68.42 and its 200 day moving average price is $63.40. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.53 and a quick ratio of 1.03. Rio Tinto PLC has a 52-week low of $51.67 and a 52-week high of $73.76.

Rio Tinto 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.