Global Retirement Partners LLC Buys 6,102 Shares of Rio Tinto PLC $RIO

Global Retirement Partners LLC boosted its holdings in Rio Tinto PLC (NYSE:RIO) by 262.9% in the 4th quarter, HoldingsChannel reports. The firm owned 8,423 shares of the mining company’s stock after purchasing an additional 6,102 shares during the quarter. Global Retirement Partners LLC’s holdings in Rio Tinto were worth $674,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. KDT Advisors LLC boosted its stake in Rio Tinto by 5.0% in the 4th quarter. KDT Advisors LLC now owns 6,151 shares of the mining company’s stock worth $492,000 after purchasing an additional 295 shares during the period. Leonteq Securities AG bought a new position in Rio Tinto in the 4th quarter worth approximately $388,000. IFP Advisors Inc boosted its stake in Rio Tinto by 110.2% in the 4th quarter. IFP Advisors Inc now owns 658 shares of the mining company’s stock worth $53,000 after purchasing an additional 345 shares during the period. Cullen Frost Bankers Inc. boosted its stake in Rio Tinto by 2.9% in the 4th quarter. Cullen Frost Bankers Inc. now owns 186,103 shares of the mining company’s stock worth $14,894,000 after purchasing an additional 5,189 shares during the period. Finally, PNC Financial Services Group Inc. boosted its stake in Rio Tinto by 4.2% in the 4th quarter. PNC Financial Services Group Inc. now owns 53,490 shares of the mining company’s stock worth $4,281,000 after purchasing an additional 2,132 shares during the period. 19.33% of the stock is currently owned by institutional investors.

Rio Tinto Stock Up 2.4%

NYSE RIO opened at $106.71 on Wednesday. The company has a current ratio of 1.44, a quick ratio of 0.98 and a debt-to-equity ratio of 0.33. Rio Tinto PLC has a one year low of $55.64 and a one year high of $112.58. The stock has a 50 day moving average price of $97.78 and a 200-day moving average price of $88.96.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on RIO shares. Sanford C. Bernstein upped their price target on Rio Tinto from $82.00 to $83.50 and gave the stock an “outperform” rating in a research note on Monday, April 27th. Argus set a $120.00 price target on Rio Tinto in a research note on Monday, April 27th. Barclays downgraded Rio Tinto from an “overweight” rating to an “equal weight” rating in a research note on Tuesday, February 24th. Deutsche Bank Aktiengesellschaft restated a “hold” rating on shares of Rio Tinto in a research note on Friday, May 15th. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Rio Tinto in a research note on Wednesday, May 20th. Four investment analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target 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.