Cullen Frost Bankers Inc. Raises Stock Position in Rio Tinto PLC $RIO

Cullen Frost Bankers Inc. grew its holdings in shares of Rio Tinto PLC (NYSE:RIO) by 2.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 186,103 shares of the mining company’s stock after purchasing an additional 5,189 shares during the period. Cullen Frost Bankers Inc.’s holdings in Rio Tinto were worth $14,894,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in RIO. PFS Partners LLC purchased a new stake in Rio Tinto during the 4th quarter valued at about $28,000. Nvest Wealth Strategies Inc. purchased a new position in shares of Rio Tinto in the fourth quarter worth about $28,000. Trust Co. of Toledo NA OH acquired a new stake in shares of Rio Tinto during the fourth quarter worth about $34,000. Root Financial Partners LLC purchased a new stake in Rio Tinto in the third quarter valued at approximately $36,000. Finally, Migdal Insurance & Financial Holdings Ltd. purchased a new stake in Rio Tinto in the fourth quarter valued at approximately $37,000. Institutional investors and hedge funds own 19.33% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on RIO shares. Erste Group Bank upgraded Rio Tinto from a “hold” rating to a “buy” rating in a research note on Friday, January 23rd. Zacks Research lowered Rio Tinto from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 7th. Barclays cut Rio Tinto from an “overweight” rating to an “equal weight” rating in a research report on Tuesday, February 24th. Argus set a $120.00 price objective on Rio Tinto in a research report on Monday, April 27th. Finally, HSBC cut shares of Rio Tinto from a “buy” rating to a “hold” rating in a research note on Monday, January 26th. Four equities research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $101.75.

Rio Tinto Stock Performance

NYSE RIO opened at $103.25 on Thursday. 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 fifty day moving average is $96.62 and its two-hundred day moving average is $87.97. Rio Tinto PLC has a fifty-two week low of $55.64 and a fifty-two week high of $112.58.

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.