Airain ltd Takes Position in Rio Tinto plc (RIO)

Airain ltd purchased a new position in Rio Tinto plc (NYSE:RIO) during the first quarter, according to its most recent filing with the SEC. The fund purchased 104,294 shares of the mining company’s stock, valued at approximately $4,243,000.

Several other institutional investors have also recently added to or reduced their stakes in RIO. Nicholas Hoffman & Company LLC. boosted its position in Rio Tinto plc by 0.3% in the first quarter. Nicholas Hoffman & Company LLC. now owns 8,310 shares of the mining company’s stock worth $338,000 after buying an additional 24 shares in the last quarter. CWA Asset Management Group LLC boosted its position in Rio Tinto plc by 0.3% in the fourth quarter. CWA Asset Management Group LLC now owns 7,795 shares of the mining company’s stock worth $300,000 after buying an additional 25 shares in the last quarter. Neville Rodie & Shaw Inc. boosted its position in Rio Tinto plc by 0.4% in the first quarter. Neville Rodie & Shaw Inc. now owns 24,000 shares of the mining company’s stock worth $976,000 after buying an additional 100 shares in the last quarter. Wetherby Asset Management Inc. boosted its position in Rio Tinto plc by 0.8% in the fourth quarter. Wetherby Asset Management Inc. now owns 18,325 shares of the mining company’s stock worth $705,000 after buying an additional 144 shares in the last quarter. Finally, Courier Capital LLC boosted its position in Rio Tinto plc by 2.1% in the first quarter. Courier Capital LLC now owns 9,524 shares of the mining company’s stock worth $387,000 after buying an additional 200 shares in the last quarter. 6.63% of the stock is owned by hedge funds and other institutional investors.

Institutional Ownership by Quarter for Rio Tinto plc (NYSE:RIO)

Rio Tinto plc (NYSE:RIO) traded up 2.40% during midday trading on Friday, hitting $41.38. 4,370,931 shares of the stock traded hands. Rio Tinto plc has a 12-month low of $26.95 and a 12-month high of $47.11. The firm has a market cap of $74.45 billion, a P/E ratio of 16.21 and a beta of 1.19. The company’s 50-day moving average is $39.72 and its 200 day moving average is $40.56.

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A number of equities analysts recently commented on the stock. Royal Bank of Canada raised shares of Rio Tinto plc from an “outperform” rating to a “top pick” rating in a research note on Wednesday. Jefferies Group LLC reaffirmed a “buy” rating on shares of Rio Tinto plc in a research note on Thursday, January 26th. BNP Paribas raised shares of Rio Tinto plc from a “neutral” rating to an “outperform” rating in a research note on Thursday, April 20th. Sanford C. Bernstein reaffirmed an “outperform” rating on shares of Rio Tinto plc in a research note on Thursday, February 9th. Finally, Zacks Investment Research cut shares of Rio Tinto plc from a “strong-buy” rating to a “hold” rating in a research note on Thursday, March 9th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating, thirteen have given a buy rating and three have given a strong buy rating to the company’s stock. Rio Tinto plc has a consensus rating of “Buy” and an average target price of $41.86.

Rio Tinto plc Company Profile

Rio Tinto plc is a mining and metals company. The Company’s business is finding, mining and processing mineral resources. The Company’s segments include Iron Ore, Aluminium, Copper & Diamonds, Energy & Minerals and Other Operations. The Company operates an iron ore business, supplying the global seaborne iron ore trade.

12 Month Chart for NYSE:RIO

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