Rio Tinto PLC $RIO Shares Purchased by Auto Owners Insurance Co

Auto Owners Insurance Co raised its position in Rio Tinto PLC (NYSE:RIO) by 7,903.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 768,288 shares of the mining company’s stock after purchasing an additional 758,688 shares during the quarter. Auto Owners Insurance Co’s holdings in Rio Tinto were worth $61,486,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Fisher Asset Management LLC raised its stake in shares of Rio Tinto by 2.7% in the fourth quarter. Fisher Asset Management LLC now owns 19,642,744 shares of the mining company’s stock valued at $1,572,009,000 after acquiring an additional 522,576 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its holdings in shares of Rio Tinto by 170.8% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 3,886,335 shares of the mining company’s stock worth $311,023,000 after purchasing an additional 2,451,140 shares during the last quarter. Bank of America Corp DE increased its position in shares of Rio Tinto by 31.9% during the third quarter. Bank of America Corp DE now owns 3,157,545 shares of the mining company’s stock worth $208,430,000 after purchasing an additional 763,786 shares in the last quarter. Bank of Montreal Can lifted its stake in Rio Tinto by 8.6% in the fourth quarter. Bank of Montreal Can now owns 2,221,469 shares of the mining company’s stock valued at $177,784,000 after buying an additional 175,833 shares during the last quarter. Finally, Deutsche Bank AG boosted its holdings in shares of Rio Tinto by 102.6% in the fourth quarter. Deutsche Bank AG now owns 2,216,935 shares of the mining company’s stock valued at $177,421,000 after acquiring an additional 1,122,667 shares during the period. 19.33% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on RIO shares. DZ Bank raised Rio Tinto from a “hold” rating to a “strong-buy” rating in a report on Friday, May 29th. Deutsche Bank Aktiengesellschaft restated a “hold” rating on shares of Rio Tinto in a report on Friday, May 15th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Rio Tinto in a research report on Wednesday, May 20th. Zacks Research downgraded shares of Rio Tinto from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 7th. Finally, Royal Bank Of Canada lowered shares of Rio Tinto from a “sector perform” rating to an “underperform” rating in a report on Wednesday, June 3rd. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $101.75.

Rio Tinto Stock Performance

Shares of RIO stock opened at $100.22 on Friday. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.44 and a quick ratio of 0.98. The company’s fifty day simple moving average is $102.95 and its 200-day simple moving average is $93.10. Rio Tinto PLC has a 52 week low of $55.64 and a 52 week high of $112.58.

Rio Tinto Company 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.