Caprock Group LLC Purchases Shares of 22,063 Rio Tinto PLC $RIO

Caprock Group LLC bought a new position in shares of Rio Tinto PLC (NYSE:RIO) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 22,063 shares of the mining company’s stock, valued at approximately $1,416,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Spire Wealth Management lifted its stake in Rio Tinto by 4.2% in the 3rd quarter. Spire Wealth Management now owns 4,258 shares of the mining company’s stock worth $281,000 after purchasing an additional 173 shares in the last quarter. Cornerstone Wealth Management LLC increased its position in shares of Rio Tinto by 2.7% during the third quarter. Cornerstone Wealth Management LLC now owns 6,620 shares of the mining company’s stock worth $437,000 after acquiring an additional 174 shares during the period. Salomon & Ludwin LLC grew its holdings in Rio Tinto by 62.2% during the 3rd quarter. Salomon & Ludwin LLC now owns 472 shares of the mining company’s stock worth $31,000 after acquiring an additional 181 shares in the last quarter. Hamilton Point Investment Advisors LLC raised its position in shares of Rio Tinto by 0.4% in the 3rd quarter. Hamilton Point Investment Advisors LLC now owns 42,206 shares of the mining company’s stock worth $2,786,000 after acquiring an additional 182 shares in the last quarter. Finally, Americana Partners LLC lifted its position in Rio Tinto by 1.2% during the third quarter. Americana Partners LLC now owns 15,988 shares of the mining company’s stock valued at $1,055,000 after acquiring an additional 195 shares during the last quarter. Institutional investors own 19.33% of the company’s stock.

Rio Tinto Stock Performance

Rio Tinto stock opened at $98.03 on Friday. Rio Tinto PLC has a 1-year low of $51.67 and a 1-year high of $100.33. The firm has a 50 day simple moving average of $85.41 and a 200-day simple moving average of $72.93. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.53 and a quick ratio of 1.03.

Analyst Upgrades and Downgrades

RIO has been the topic of a number of recent research reports. Morgan Stanley lowered Rio Tinto from an “overweight” rating to an “equal weight” rating in a research report on Wednesday, January 28th. Citigroup upgraded Rio Tinto to a “hold” rating in a research report on Tuesday, February 10th. Weiss Ratings reissued a “hold (c+)” rating on shares of Rio Tinto in a research note on Monday, December 29th. Zacks Research upgraded shares of Rio Tinto from a “hold” rating to a “strong-buy” rating in a research report on Monday, December 29th. Finally, Argus lifted their target price on shares of Rio Tinto from $70.00 to $85.00 and gave the company a “buy” rating in a research report on Thursday, December 11th. Three 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. According to MarketBeat.com, Rio Tinto has an average rating of “Moderate Buy” and an average price target of $85.00.

Rio Tinto 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.