Hantz Financial Services Inc. Buys 16,696 Shares of Rio Tinto PLC $RIO

Hantz Financial Services Inc. increased its position in shares of Rio Tinto PLC (NYSE:RIO) by 362.1% during the third quarter, Holdings Channel reports. The institutional investor owned 21,307 shares of the mining company’s stock after purchasing an additional 16,696 shares during the quarter. Hantz Financial Services Inc.’s holdings in Rio Tinto were worth $1,406,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Salomon & Ludwin LLC grew its holdings in shares of 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 purchasing an additional 181 shares in the last quarter. Root Financial Partners LLC acquired a new position in shares of Rio Tinto in the third quarter valued at $36,000. Pinpoint Asset Management Singapore Pte. Ltd. bought a new position in Rio Tinto in the second quarter worth $38,000. MTM Investment Management LLC acquired a new stake in Rio Tinto during the second quarter worth $43,000. Finally, Wealth Preservation Advisors LLC acquired a new stake in Rio Tinto during the second quarter worth $53,000. 19.33% of the stock is currently owned by institutional investors.

Rio Tinto Stock Performance

NYSE RIO opened at $93.42 on Friday. Rio Tinto PLC has a 1-year low of $51.67 and a 1-year high of $98.60. The company has a 50 day moving average of $82.93 and a 200-day moving average of $71.67. The company has a quick ratio of 1.03, a current ratio of 1.53 and a debt-to-equity ratio of 0.37.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Morgan Stanley downgraded shares of Rio Tinto from an “overweight” rating to an “equal weight” rating in a report on Wednesday, January 28th. HSBC lowered shares of Rio Tinto from a “buy” rating to a “hold” rating in a research report on Monday, January 26th. Citigroup reaffirmed a “hold” rating on shares of Rio Tinto in a report on Monday, November 17th. Erste Group Bank raised Rio Tinto from a “hold” rating to a “buy” rating in a report on Friday, January 23rd. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Rio Tinto in a research report on Monday, December 29th. Three research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price 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.