American Century Companies Inc. Acquires 40,264 Shares of Rio Tinto PLC $RIO

American Century Companies Inc. lifted its holdings in shares of Rio Tinto PLC (NYSE:RIO) by 14.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 320,311 shares of the mining company’s stock after purchasing an additional 40,264 shares during the quarter. American Century Companies Inc.’s holdings in Rio Tinto were worth $18,684,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of RIO. Pandora Wealth Inc. bought a new stake in Rio Tinto in the 1st quarter valued at $30,000. MTM Investment Management LLC acquired a new position in shares of Rio Tinto during the second quarter valued at about $43,000. Hilltop National Bank acquired a new position in shares of Rio Tinto during the second quarter valued at about $44,000. Resources Management Corp CT ADV bought a new stake in shares of Rio Tinto in the first quarter valued at about $48,000. Finally, Cary Street Partners Investment Advisory LLC grew its position in Rio Tinto by 65.1% during the first quarter. Cary Street Partners Investment Advisory LLC now owns 852 shares of the mining company’s stock worth $51,000 after buying an additional 336 shares in the last quarter. Institutional investors and hedge funds own 19.33% of the company’s stock.

Rio Tinto Stock Up 0.4%

Shares of NYSE RIO opened at $72.28 on Wednesday. Rio Tinto PLC has a fifty-two week low of $51.67 and a fifty-two week high of $73.76. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.03 and a current ratio of 1.53. The company’s 50 day simple moving average is $69.17 and its 200 day simple moving average is $63.69.

Analysts Set New Price Targets

A number of brokerages have weighed in on RIO. Citigroup reiterated a “hold” rating on shares of Rio Tinto in a research report on Monday, November 17th. Zacks Research downgraded shares of Rio Tinto from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 19th. Royal Bank Of Canada reiterated a “sector perform” rating on shares of Rio Tinto in a research report on Monday. Weiss Ratings reissued a “hold (c+)” rating on shares of Rio Tinto in a report on Monday. Finally, Morgan Stanley reaffirmed an “overweight” rating on shares of Rio Tinto in a research note on Wednesday, October 8th. Two investment analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $73.00.

About Rio Tinto

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.