Capital Wealth Planning LLC Invests $9.90 Million in Rio Tinto PLC $RIO

Capital Wealth Planning LLC bought a new position in shares of Rio Tinto PLC (NYSE:RIO) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 121,628 shares of the mining company’s stock, valued at approximately $9,904,000.

A number of other institutional investors and hedge funds also recently modified their holdings of RIO. PFS Partners LLC acquired a new stake in shares of Rio Tinto during the fourth quarter worth $28,000. Nvest Wealth Strategies Inc. acquired a new stake in shares of Rio Tinto during the fourth quarter worth $28,000. Trust Co. of Toledo NA OH acquired a new stake in shares of Rio Tinto during the fourth quarter worth $34,000. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in shares of Rio Tinto during the fourth quarter worth $37,000. Finally, Triumph Capital Management acquired a new stake in shares of Rio Tinto during the third quarter worth $38,000. 19.33% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms recently weighed in on RIO. Royal Bank Of Canada lowered Rio Tinto from a “sector perform” rating to an “underperform” rating in a research report on Wednesday, June 3rd. Deutsche Bank Aktiengesellschaft reissued a “hold” rating on shares of Rio Tinto in a research report on Friday, May 15th. Bank of America lowered Rio Tinto from a “buy” rating to a “neutral” rating in a research report on Friday, May 22nd. Zacks Research lowered Rio Tinto from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 7th. Finally, Citigroup restated a “neutral” rating on shares of Rio Tinto in a research note on Tuesday, May 26th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $101.75.

Rio Tinto Stock Performance

Shares of NYSE RIO opened at $99.26 on Thursday. The business’s 50-day moving average price is $101.75 and its two-hundred day moving average price is $91.68. Rio Tinto PLC has a one year low of $55.64 and a one year high of $112.58. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.98 and a current ratio of 1.44.

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.