Vestmark Advisory Solutions Inc. Takes Position in Rio Tinto PLC $RIO

Vestmark Advisory Solutions Inc. acquired a new position in shares of Rio Tinto PLC (NYSE:RIO) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 3,791 shares of the mining company’s stock, valued at approximately $221,000.

A number of other institutional investors and hedge funds have also made changes to their positions in RIO. Pandora Wealth Inc. purchased a new stake in Rio Tinto during the 1st quarter valued at approximately $30,000. Hilltop National Bank acquired a new stake in shares of Rio Tinto during the second quarter worth $44,000. Resources Management Corp CT ADV purchased a new position in Rio Tinto in the 1st quarter valued at $48,000. Cary Street Partners Investment Advisory LLC increased its stake in Rio Tinto by 65.1% in the 1st quarter. Cary Street Partners Investment Advisory LLC now owns 852 shares of the mining company’s stock valued at $51,000 after buying an additional 336 shares during the period. Finally, Grove Bank & Trust raised its position in Rio Tinto by 24.5% during the 2nd quarter. Grove Bank & Trust now owns 1,139 shares of the mining company’s stock worth $66,000 after buying an additional 224 shares during the last quarter. 19.33% of the stock is owned by hedge funds and other institutional investors.

Rio Tinto Trading Up 0.7%

Shares of RIO stock opened at $71.61 on Thursday. The company has a 50 day moving average price of $66.93 and a 200 day moving average price of $62.66. Rio Tinto PLC has a one year low of $51.67 and a one year high of $73.76. The company has a quick ratio of 1.03, a current ratio of 1.53 and a debt-to-equity ratio of 0.37.

Analysts Set New Price Targets

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

Rio Tinto Company 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.