Rio Tinto PLC $RIO Shares Purchased by Jones Financial Companies Lllp

Jones Financial Companies Lllp boosted 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 Form 13F filing with the Securities & Exchange Commission. The fund owned 43,585 shares of the mining company’s stock after acquiring an additional 12,588 shares during the quarter. Jones Financial Companies Lllp’s holdings in Rio Tinto were worth $2,825,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in RIO. Salomon & Ludwin LLC increased its position 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 during the last quarter. Root Financial Partners LLC acquired a new stake in shares of Rio Tinto during the third quarter valued at about $36,000. Pinpoint Asset Management Singapore Pte. Ltd. purchased a new stake in shares of Rio Tinto in the 2nd quarter valued at approximately $38,000. MTM Investment Management LLC acquired a new position in shares of Rio Tinto in the 2nd quarter worth approximately $43,000. Finally, Wealth Preservation Advisors LLC purchased a new position in shares of Rio Tinto during the 2nd quarter worth approximately $53,000. Hedge funds and other institutional investors own 19.33% of the company’s stock.

Rio Tinto Price Performance

NYSE:RIO opened at $93.42 on Monday. Rio Tinto PLC has a 12-month low of $51.67 and a 12-month high of $98.60. The company has a current ratio of 1.53, a quick ratio of 1.03 and a debt-to-equity ratio of 0.37. The stock has a fifty day moving average price of $82.93 and a 200 day moving average price of $71.77.

Analyst Upgrades and Downgrades

RIO has been the topic of a number of research analyst reports. Royal Bank Of Canada reissued a “sector perform” rating on shares of Rio Tinto in a research report on Thursday, January 22nd. Erste Group Bank raised Rio Tinto from a “hold” rating to a “buy” rating in a research note on Friday, January 23rd. Weiss Ratings reissued a “hold (c+)” rating on shares of Rio Tinto in a research note on Monday, December 29th. HSBC cut Rio Tinto from a “buy” rating to a “hold” rating in a report on Monday, January 26th. Finally, Argus lifted their target price on Rio Tinto from $70.00 to $85.00 and gave the company a “buy” rating in a research report on Thursday, December 11th. Three equities research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $85.00.

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.