Keybank National Association OH Raises Stock Position in Rio Tinto PLC $RIO

Keybank National Association OH raised its holdings in shares of Rio Tinto PLC (NYSE:RIO) by 30.2% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 46,873 shares of the mining company’s stock after acquiring an additional 10,859 shares during the quarter. Keybank National Association OH’s holdings in Rio Tinto were worth $4,373,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in RIO. AdvisorNet Financial Inc raised its position in shares of Rio Tinto by 160.2% during the first quarter. AdvisorNet Financial Inc now owns 294 shares of the mining company’s stock valued at $27,000 after buying an additional 181 shares during the last quarter. PFS Partners LLC purchased a new stake in shares of Rio Tinto in the fourth quarter worth about $28,000. Nvest Wealth Strategies Inc. bought a new position in Rio Tinto during the fourth quarter valued at approximately $28,000. Trust Co. of Toledo NA OH bought a new position in Rio Tinto during the fourth quarter valued at approximately $34,000. Finally, Evelyn Partners Investment Management LLP purchased a new position in Rio Tinto during the 4th quarter valued at approximately $34,000. 19.33% of the stock is currently owned by hedge funds and other institutional investors.

Rio Tinto Stock Performance

RIO opened at $94.44 on Friday. 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 quick ratio of 0.98 and a current ratio of 1.44. The firm’s 50-day moving average price is $102.14 and its 200-day moving average price is $94.56.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Sanford C. Bernstein increased their price objective on shares of Rio Tinto from $82.00 to $83.50 and gave the company an “outperform” rating in a research report on Monday, April 27th. Argus set a $120.00 target price on Rio Tinto in a research report on Monday, April 27th. Weiss Ratings restated a “buy (b-)” rating on shares of Rio Tinto in a research report on Wednesday, May 20th. Royal Bank Of Canada lowered shares of Rio Tinto from a “sector perform” rating to an “underperform” rating in a research note on Wednesday, June 3rd. Finally, Bank of America cut shares of Rio Tinto from a “buy” rating to a “neutral” rating in a report on Friday, May 22nd. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Rio Tinto presently has an average rating of “Hold” and an average price target of $101.75.

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.