Rio Tinto PLC $RIO Shares Purchased by Northwestern Mutual Wealth Management Co.

Northwestern Mutual Wealth Management Co. boosted its stake in shares of Rio Tinto PLC (NYSE:RIO) by 11.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 53,256 shares of the mining company’s stock after purchasing an additional 5,534 shares during the quarter. Northwestern Mutual Wealth Management Co.’s holdings in Rio Tinto were worth $4,262,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Foundations Investment Advisors LLC purchased a new position in shares of Rio Tinto in the 4th quarter valued at about $272,000. Arista Wealth Management LLC purchased a new stake in shares of Rio Tinto during the fourth quarter worth approximately $286,000. Kingsview Wealth Management LLC raised its holdings in Rio Tinto by 11.2% in the fourth quarter. Kingsview Wealth Management LLC now owns 5,378 shares of the mining company’s stock valued at $430,000 after acquiring an additional 543 shares in the last quarter. Barry Investment Advisors LLC acquired a new stake in Rio Tinto in the fourth quarter valued at approximately $204,000. Finally, Community Bank & Trust Waco Texas lifted its stake in Rio Tinto by 8.3% in the fourth quarter. Community Bank & Trust Waco Texas now owns 32,027 shares of the mining company’s stock worth $2,563,000 after acquiring an additional 2,449 shares during the last quarter. Institutional investors and hedge funds own 19.33% of the company’s stock.

Rio Tinto Price Performance

Shares of RIO opened at $105.49 on Friday. Rio Tinto PLC has a 52-week low of $55.64 and a 52-week high of $112.58. The company has a quick ratio of 0.98, a current ratio of 1.44 and a debt-to-equity ratio of 0.33. The stock has a 50 day moving average price of $100.68 and a 200 day moving average price of $90.80.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. JPMorgan Chase & Co. cut shares of Rio Tinto from an “overweight” rating to a “neutral” rating in a report on Monday, March 9th. Zacks Research cut shares of Rio Tinto from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 7th. Royal Bank Of Canada downgraded shares of Rio Tinto from a “sector perform” rating to an “underperform” rating in a research note on Wednesday. Citigroup reissued a “neutral” rating on shares of Rio Tinto in a report on Tuesday, May 26th. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Rio Tinto in a research note on Wednesday, May 20th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Rio Tinto presently has an average rating of “Hold” and an average price target of $101.75.

Rio Tinto Company Profile

Rio Tinto is a global mining and metals company that explores for, mines, processes and markets a wide range of commodities. Its principal products include iron ore, aluminum, copper, diamonds and various other minerals and industrial materials. The company’s activities span the full value chain from exploration and project development to mining, processing, smelting and refining, supplying raw materials to industries such as steelmaking, automotive, packaging, electronics and construction.

The origins of Rio Tinto date back to mining operations in the Rio Tinto region of Spain in the 19th century, and the group has since grown into a multinational enterprise.