SBI Securities Co. Ltd. Purchases 1,602 Shares of Rio Tinto PLC $RIO

SBI Securities Co. Ltd. increased its holdings in Rio Tinto PLC (NYSE:RIO) by 3.8% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 43,844 shares of the mining company’s stock after purchasing an additional 1,602 shares during the period. SBI Securities Co. Ltd.’s holdings in Rio Tinto were worth $2,557,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Cerity Partners LLC increased its holdings in shares of Rio Tinto by 35.4% in the 1st quarter. Cerity Partners LLC now owns 75,984 shares of the mining company’s stock worth $4,567,000 after buying an additional 19,875 shares during the last quarter. Massachusetts Financial Services Co. MA raised its position in Rio Tinto by 20.7% during the first quarter. Massachusetts Financial Services Co. MA now owns 202,117 shares of the mining company’s stock valued at $12,143,000 after purchasing an additional 34,627 shares during the period. Whittier Trust Co. lifted its stake in shares of Rio Tinto by 3.3% in the 1st quarter. Whittier Trust Co. now owns 27,385 shares of the mining company’s stock valued at $1,645,000 after purchasing an additional 862 shares during the last quarter. Whittier Trust Co. of Nevada Inc. boosted its holdings in shares of Rio Tinto by 79.5% in the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 10,593 shares of the mining company’s stock worth $636,000 after purchasing an additional 4,693 shares during the period. Finally, Bridgewater Advisors Inc. bought a new position in shares of Rio Tinto during the 1st quarter valued at approximately $201,000. Institutional investors own 19.33% of the company’s stock.

Rio Tinto Stock Up 1.1%

RIO opened at $71.08 on Thursday. Rio Tinto PLC has a 52 week low of $51.67 and a 52 week high of $73.76. The stock’s fifty day moving average is $66.93 and its two-hundred day moving average is $62.66. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.03 and a current ratio of 1.53.

Wall Street Analysts Forecast Growth

RIO has been the subject of a number of analyst reports. Weiss Ratings restated a “hold (c)” rating on shares of Rio Tinto in a research report on Wednesday, October 8th. Zacks Research raised shares of Rio Tinto from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 6th. Morgan Stanley reiterated an “overweight” rating on shares of Rio Tinto in a report on Wednesday, October 8th. Finally, Deutsche Bank Aktiengesellschaft downgraded shares of Rio Tinto from a “buy” rating to a “hold” rating in a research note on Wednesday, July 30th. Three analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, Rio Tinto presently has a consensus rating of “Moderate Buy” and an average price target of $73.00.

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.