Jones Financial Companies Lllp Boosts Stock Position in Rio Tinto PLC $RIO

Jones Financial Companies Lllp lifted its holdings in shares of Rio Tinto PLC (NYSE:RIO) by 40.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 43,585 shares of the mining company’s stock after buying an additional 12,588 shares during the quarter. Jones Financial Companies Lllp’s holdings in Rio Tinto were worth $2,825,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. United Community Bank increased its holdings in Rio Tinto by 169.7% in the 3rd quarter. United Community Bank now owns 6,068 shares of the mining company’s stock worth $401,000 after acquiring an additional 3,818 shares in the last quarter. Columbia Asset Management increased its stake in shares of Rio Tinto by 9.7% during the third quarter. Columbia Asset Management now owns 8,737 shares of the mining company’s stock worth $577,000 after purchasing an additional 770 shares in the last quarter. Keybank National Association OH raised its position in shares of Rio Tinto by 2.0% during the 3rd quarter. Keybank National Association OH now owns 30,857 shares of the mining company’s stock worth $2,037,000 after purchasing an additional 613 shares during the last quarter. Cornerstone Wealth Management LLC lifted its stake in Rio Tinto by 2.7% in the 3rd quarter. Cornerstone Wealth Management LLC now owns 6,620 shares of the mining company’s stock valued at $437,000 after buying an additional 174 shares in the last quarter. Finally, AE Wealth Management LLC lifted its stake in Rio Tinto by 2.2% in the 3rd quarter. AE Wealth Management LLC now owns 9,827 shares of the mining company’s stock valued at $649,000 after buying an additional 214 shares in the last quarter. Hedge funds and other institutional investors own 19.33% of the company’s stock.

Analyst Upgrades and Downgrades

RIO has been the subject of a number of research analyst reports. HSBC cut Rio Tinto from a “buy” rating to a “hold” rating in a report on Monday, January 26th. Citigroup reissued a “hold” rating on shares of Rio Tinto in a research note on Monday, November 17th. Erste Group Bank upgraded Rio Tinto from a “hold” rating to a “buy” rating in a report on Friday, January 23rd. Royal Bank Of Canada reaffirmed a “sector perform” rating on shares of Rio Tinto in a report on Thursday, January 22nd. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Rio Tinto in a research note on Monday, December 29th. Three research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $85.00.

Rio Tinto Trading Up 2.5%

NYSE RIO opened at $93.42 on Monday. The business’s fifty day simple moving average is $82.93 and its 200-day simple moving average is $71.77. The company has a current ratio of 1.53, a quick ratio of 1.03 and a debt-to-equity ratio of 0.37. Rio Tinto PLC has a 52 week low of $51.67 and a 52 week high of $98.60.

About Rio Tinto

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.