Rio Tinto PLC $RIO Shares Bought by Kestra Private Wealth Services LLC

Kestra Private Wealth Services LLC lifted its stake in Rio Tinto PLC (NYSE:RIO) by 47.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 18,122 shares of the mining company’s stock after buying an additional 5,794 shares during the period. Kestra Private Wealth Services LLC’s holdings in Rio Tinto were worth $1,691,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the stock. Ritholtz Wealth Management lifted its position in Rio Tinto by 14.9% during the 1st quarter. Ritholtz Wealth Management now owns 29,720 shares of the mining company’s stock worth $2,773,000 after acquiring an additional 3,863 shares in the last quarter. TrueMark Investments LLC raised its stake in shares of Rio Tinto by 14.0% during the first quarter. TrueMark Investments LLC now owns 46,041 shares of the mining company’s stock valued at $4,295,000 after purchasing an additional 5,665 shares during the period. RFG Advisory LLC lifted its position in shares of Rio Tinto by 12.9% during the first quarter. RFG Advisory LLC now owns 23,559 shares of the mining company’s stock worth $2,198,000 after purchasing an additional 2,698 shares in the last quarter. Keudell Morrison Wealth Management purchased a new position in shares of Rio Tinto in the first quarter valued at $257,000. Finally, CENTRAL TRUST Co boosted its stake in shares of Rio Tinto by 53.6% in the first quarter. CENTRAL TRUST Co now owns 6,994 shares of the mining company’s stock valued at $655,000 after purchasing an additional 2,442 shares during the period. Institutional investors and hedge funds own 19.33% of the company’s stock.

Rio Tinto Stock Performance

Shares of NYSE RIO opened at $94.27 on Tuesday. Rio Tinto PLC has a 12-month low of $57.65 and a 12-month high of $112.58. 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 stock’s 50 day simple moving average is $102.56 and its 200 day simple moving average is $94.18.

Analyst Upgrades and Downgrades

RIO has been the topic of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating on shares of Rio Tinto in a report on Friday, May 15th. Citigroup restated a “neutral” rating on shares of Rio Tinto in a research note on Tuesday, May 26th. DZ Bank raised shares of Rio Tinto from a “hold” rating to a “strong-buy” rating in a research report on Friday, May 29th. Argus set a $120.00 price objective on Rio Tinto in a report on Monday, April 27th. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Rio Tinto in a research report on Wednesday, May 20th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Rio Tinto presently has a consensus rating of “Hold” and a consensus target price of $101.75.

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.