LRI Investments LLC Acquires 2,875 Shares of Rio Tinto PLC (NYSE:RIO)

LRI Investments LLC grew its holdings in Rio Tinto PLC (NYSE:RIO) by 302.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,826 shares of the mining company’s stock after purchasing an additional 2,875 shares during the quarter. LRI Investments LLC’s holdings in Rio Tinto were worth $230,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in RIO. Capital Analysts LLC increased its holdings in Rio Tinto by 6.0% in the 4th quarter. Capital Analysts LLC now owns 2,886 shares of the mining company’s stock worth $170,000 after acquiring an additional 163 shares during the last quarter. Nemes Rush Group LLC boosted its position in Rio Tinto by 10.0% during the fourth quarter. Nemes Rush Group LLC now owns 1,855 shares of the mining company’s stock worth $109,000 after purchasing an additional 169 shares during the period. Aspen Wealth Strategies LLC increased its stake in shares of Rio Tinto by 3.7% in the first quarter. Aspen Wealth Strategies LLC now owns 4,810 shares of the mining company’s stock worth $289,000 after purchasing an additional 172 shares in the last quarter. Walker Asset Management LLC raised its position in shares of Rio Tinto by 4.8% in the first quarter. Walker Asset Management LLC now owns 4,326 shares of the mining company’s stock valued at $260,000 after purchasing an additional 200 shares during the period. Finally, Quintet Private Bank Europe S.A. raised its position in shares of Rio Tinto by 10.0% in the first quarter. Quintet Private Bank Europe S.A. now owns 2,200 shares of the mining company’s stock valued at $132,000 after purchasing an additional 200 shares during the period. Institutional investors own 19.33% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on RIO shares. Morgan Stanley downgraded shares of Rio Tinto from an “overweight” rating to an “equal weight” rating in a report on Wednesday, April 9th. Wall Street Zen lowered Rio Tinto from a “strong-buy” rating to a “buy” rating in a report on Monday, April 28th. Barclays reiterated an “overweight” rating on shares of Rio Tinto in a research report on Wednesday, July 2nd. DZ Bank raised Rio Tinto from a “hold” rating to a “strong-buy” rating in a report on Thursday, March 27th. Finally, Jefferies Financial Group restated a “hold” rating on shares of Rio Tinto in a research note on Tuesday, June 3rd. Five investment analysts have rated the stock with a hold rating, four have issued a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $73.00.

Rio Tinto Trading Up 1.6%

Shares of RIO stock opened at $61.09 on Monday. The company has a market capitalization of $76.61 billion, a PE ratio of 9.47 and a beta of 0.66. Rio Tinto PLC has a 52-week low of $51.67 and a 52-week high of $72.08. The business’s fifty day moving average is $59.50 and its 200 day moving average is $60.07. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.13 and a current ratio of 1.63.

Rio Tinto Profile

Rio Tinto Group engages in exploring, mining, and processing mineral resources worldwide. The company operates through Iron Ore, Aluminium, Copper, and Minerals Segments. The Iron Ore segment engages in the iron ore mining, and salt and gypsum production in Western Australia. The Aluminum segment is involved in bauxite mining; alumina refining; and aluminium smelting.