Rio Tinto PLC (NYSE:RIO) Shares Purchased by Jackson Hole Capital Partners LLC

Jackson Hole Capital Partners LLC raised its stake in Rio Tinto PLC (NYSE:RIO) by 80.6% in the first quarter, HoldingsChannel.com reports. The fund owned 10,170 shares of the mining company’s stock after purchasing an additional 4,540 shares during the quarter. Jackson Hole Capital Partners LLC’s holdings in Rio Tinto were worth $611,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Auto Owners Insurance Co grew its position in shares of Rio Tinto by 77,150.0% in the first quarter. Auto Owners Insurance Co now owns 7,416,000 shares of the mining company’s stock valued at $445,553,000 after purchasing an additional 7,406,400 shares during the period. Franklin Resources Inc. grew its position in Rio Tinto by 1.4% during the fourth quarter. Franklin Resources Inc. now owns 5,115,476 shares of the mining company’s stock valued at $300,841,000 after acquiring an additional 70,131 shares during the period. FMR LLC grew its position in Rio Tinto by 24.6% during the fourth quarter. FMR LLC now owns 1,721,690 shares of the mining company’s stock valued at $101,253,000 after acquiring an additional 339,924 shares during the period. Northern Trust Corp grew its position in Rio Tinto by 18.9% during the fourth quarter. Northern Trust Corp now owns 1,603,037 shares of the mining company’s stock valued at $94,275,000 after acquiring an additional 255,151 shares during the period. Finally, Deutsche Bank AG grew its position in Rio Tinto by 143,872.8% during the fourth quarter. Deutsche Bank AG now owns 1,264,081 shares of the mining company’s stock valued at $74,341,000 after acquiring an additional 1,263,203 shares during the period. 19.33% of the stock is owned by institutional investors and hedge funds.

Rio Tinto Stock Down 0.7%

Shares of NYSE:RIO traded down $0.42 during trading on Thursday, hitting $64.20. The company’s stock had a trading volume of 942,572 shares, compared to its average volume of 3,342,324. 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 PLC has a fifty-two week low of $51.67 and a fifty-two week high of $72.08. The stock’s 50-day moving average price is $59.60 and its two-hundred day moving average price is $60.18. The company has a market capitalization of $80.51 billion, a PE ratio of 9.95 and a beta of 0.66.

Wall Street Analyst Weigh In

A number of research firms have issued reports on RIO. Barclays reissued an “overweight” rating on shares of Rio Tinto in a research report on Wednesday, July 2nd. Jefferies Financial Group reaffirmed a “hold” rating on shares of Rio Tinto in a research report on Tuesday, June 3rd. Berenberg Bank reaffirmed a “hold” rating on shares of Rio Tinto in a research report on Thursday, July 3rd. Morgan Stanley reaffirmed an “overweight” rating on shares of Rio Tinto in a research report on Monday, July 14th. Finally, DZ Bank raised Rio Tinto from a “hold” rating to a “strong-buy” rating in a research report on Thursday, March 27th. Four investment analysts have rated the stock with a hold rating, four have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $73.00.

About Rio Tinto

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.