13,347 Shares in Rio Tinto PLC $RIO Bought by American Capital Advisory LLC

American Capital Advisory LLC bought a new position in Rio Tinto PLC (NYSE:RIO) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 13,347 shares of the mining company’s stock, valued at approximately $779,000.

Other hedge funds also recently added to or reduced their stakes in the company. Wayfinding Financial LLC purchased a new position in Rio Tinto in the first quarter valued at about $30,000. Pandora Wealth Inc. purchased a new position in Rio Tinto in the first quarter valued at about $30,000. Hilltop National Bank purchased a new position in Rio Tinto in the second quarter valued at about $44,000. Resources Management Corp CT ADV purchased a new stake in shares of Rio Tinto during the first quarter worth about $48,000. Finally, Cary Street Partners Investment Advisory LLC increased its position in shares of Rio Tinto by 65.1% during the first quarter. Cary Street Partners Investment Advisory LLC now owns 852 shares of the mining company’s stock worth $51,000 after acquiring an additional 336 shares during the last quarter. 19.33% of the stock is owned by hedge funds and other institutional investors.

Rio Tinto Trading Down 1.8%

Shares of NYSE:RIO opened at $70.43 on Tuesday. Rio Tinto PLC has a 12 month low of $51.67 and a 12 month high of $73.76. The stock’s 50 day moving average price is $65.92 and its 200 day moving average price is $62.19. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.53 and a quick ratio of 1.03.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Morgan Stanley reiterated an “overweight” rating on shares of Rio Tinto in a research note on Wednesday, October 8th. Deutsche Bank Aktiengesellschaft downgraded Rio Tinto from a “buy” rating to a “hold” rating in a research note on Wednesday, July 30th. Zacks Research raised shares of Rio Tinto from a “hold” rating to a “strong-buy” rating in a report on Monday, October 6th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Rio Tinto in a report on Wednesday, October 8th. Three analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, Rio Tinto currently has an average rating of “Moderate Buy” and a consensus 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.