World Investment Advisors Buys 7,714 Shares of Rio Tinto PLC $RIO

World Investment Advisors boosted its stake in shares of Rio Tinto PLC (NYSE:RIO) by 104.8% in the 4th quarter, HoldingsChannel reports. The fund owned 15,075 shares of the mining company’s stock after buying an additional 7,714 shares during the quarter. World Investment Advisors’ holdings in Rio Tinto were worth $1,207,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of RIO. PFS Partners LLC bought a new stake in Rio Tinto in the fourth quarter valued at approximately $28,000. Nvest Wealth Strategies Inc. purchased a new stake in shares of Rio Tinto during the fourth quarter valued at approximately $28,000. Trust Co. of Toledo NA OH purchased a new stake in shares of Rio Tinto during the fourth quarter valued at approximately $34,000. Evelyn Partners Investment Management LLP bought a new position in shares of Rio Tinto in the fourth quarter worth approximately $34,000. Finally, Glen Eagle Advisors LLC grew its holdings in shares of Rio Tinto by 32.2% in the fourth quarter. Glen Eagle Advisors LLC now owns 452 shares of the mining company’s stock worth $36,000 after purchasing an additional 110 shares during the last quarter. 19.33% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts recently commented on the stock. Sanford C. Bernstein lifted their target price on shares of Rio Tinto from $82.00 to $83.50 and gave the stock an “outperform” rating in a research note on Monday, April 27th. Argus set a $120.00 price target on shares of Rio Tinto in a research report on Monday, April 27th. Royal Bank Of Canada cut shares of Rio Tinto from a “sector perform” rating to an “underperform” rating in a research report on Wednesday, June 3rd. Weiss Ratings restated a “buy (b-)” rating on shares of Rio Tinto in a research report on Wednesday, May 20th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating on shares of Rio Tinto in a research note on Friday, May 15th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Rio Tinto presently has an average rating of “Hold” and a consensus target price of $101.75.

Rio Tinto Price Performance

Shares of RIO stock opened at $100.22 on Monday. Rio Tinto PLC has a fifty-two week low of $55.64 and a fifty-two week high of $112.58. The business’s 50 day moving average price is $102.95 and its 200-day moving average price is $93.25. The company has a current ratio of 1.44, a quick ratio of 0.98 and a debt-to-equity ratio of 0.33.

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.