Banco Bilbao Vizcaya Argentaria S.A. Takes Position in Rio Tinto PLC $RIO

Banco Bilbao Vizcaya Argentaria S.A. purchased a new position in shares of Rio Tinto PLC (NYSE:RIO) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 36,202 shares of the mining company’s stock, valued at approximately $2,112,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. grew its holdings in shares of Rio Tinto by 4.1% in the first quarter. Goldman Sachs Group Inc. now owns 8,368,620 shares of the mining company’s stock valued at $502,787,000 after acquiring an additional 326,661 shares in the last quarter. Auto Owners Insurance Co grew its stake in Rio Tinto by 77,150.0% in the 1st quarter. Auto Owners Insurance Co now owns 7,416,000 shares of the mining company’s stock valued at $445,553,000 after purchasing an additional 7,406,400 shares during the period. Kingstone Capital Partners Texas LLC purchased a new stake in shares of Rio Tinto during the 2nd quarter valued at $292,770,000. Dimensional Fund Advisors LP raised its stake in shares of Rio Tinto by 33.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,938,247 shares of the mining company’s stock worth $116,510,000 after purchasing an additional 490,357 shares during the period. Finally, Bank of Montreal Can raised its stake in shares of Rio Tinto by 71.7% during the 2nd quarter. Bank of Montreal Can now owns 1,855,607 shares of the mining company’s stock worth $108,238,000 after purchasing an additional 774,851 shares during the period. Hedge funds and other institutional investors own 19.33% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on RIO. Morgan Stanley restated an “overweight” rating on shares of Rio Tinto in a report on Wednesday, October 8th. Zacks Research upgraded shares of Rio Tinto from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 6th. Deutsche Bank Aktiengesellschaft downgraded Rio Tinto from a “buy” rating to a “hold” rating in a research note on Wednesday, July 30th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Rio Tinto in a research report on Wednesday, October 8th. Three investment analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $73.00.

Rio Tinto Trading Down 0.5%

Shares of NYSE:RIO opened at $70.66 on Monday. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.53 and a quick ratio of 1.03. The stock has a 50 day moving average price of $67.24 and a 200-day moving average price of $62.82. Rio Tinto PLC has a 52-week low of $51.67 and a 52-week 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.