American Institute for Advanced Investment Management LLP Invests $538,000 in Rio Tinto PLC $RIO

American Institute for Advanced Investment Management LLP bought a new stake in shares of Rio Tinto PLC (NYSE:RIO) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 5,765 shares of the mining company’s stock, valued at approximately $538,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Arrowstreet Capital Limited Partnership increased 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 valued at $311,023,000 after acquiring an additional 2,451,140 shares in the last quarter. Milford Funds Ltd. acquired a new position in Rio Tinto during the 4th quarter valued at approximately $93,143,000. Deutsche Bank AG raised 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 worth $177,421,000 after buying an additional 1,122,667 shares during the last quarter. Natixis Advisors LLC raised its holdings in shares of Rio Tinto by 144.7% in the fourth quarter. Natixis Advisors LLC now owns 1,587,387 shares of the mining company’s stock worth $127,039,000 after buying an additional 938,687 shares during the last quarter. Finally, Bank of America Corp DE grew its holdings 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 valued at $208,430,000 after buying an additional 763,786 shares during the last quarter. 19.33% of the stock is currently owned by hedge funds and other institutional investors.

Rio Tinto Trading Up 0.7%

Shares of RIO stock opened at $94.94 on Wednesday. Rio Tinto PLC has a 52-week low of $57.65 and a 52-week 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 business has a 50-day simple moving average of $102.45 and a 200-day simple moving average of $94.31.

Wall Street Analysts Forecast Growth

RIO has been the subject of a number of research reports. Royal Bank Of Canada cut Rio Tinto from a “sector perform” rating to an “underperform” rating in a research report on Wednesday, June 3rd. JPMorgan Chase & Co. downgraded Rio Tinto from an “overweight” rating to a “neutral” rating in a report on Monday, March 9th. Sanford C. Bernstein upped their target price on Rio Tinto from $82.00 to $83.50 and gave the company an “outperform” rating in a research report on Monday, April 27th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Rio Tinto in a report on Wednesday, May 20th. Finally, Bank of America lowered shares of Rio Tinto from a “buy” rating to a “neutral” rating in a research report on Friday, May 22nd. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Rio Tinto presently has an average rating of “Hold” and an average target price of $101.75.

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.