American Capital Advisory LLC Acquires New Shares in Rio Tinto PLC $RIO

American Capital Advisory LLC acquired a new stake in Rio Tinto PLC (NYSE:RIO) in the 2nd quarter, HoldingsChannel.com reports. The firm acquired 13,347 shares of the mining company’s stock, valued at approximately $779,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. Wayfinding Financial LLC bought a new position in shares of Rio Tinto during the 1st quarter worth about $30,000. Pandora Wealth Inc. bought a new stake in Rio Tinto in the first quarter valued at about $30,000. Hilltop National Bank bought a new stake in Rio Tinto in the second quarter valued at about $44,000. Resources Management Corp CT ADV bought a new stake in Rio Tinto in the first quarter valued at about $48,000. Finally, Cary Street Partners Investment Advisory LLC grew its stake in 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 buying an additional 336 shares during the last quarter. Institutional investors and hedge funds own 19.33% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Deutsche Bank Aktiengesellschaft lowered shares of Rio Tinto from a “buy” rating to a “hold” rating in a report on Wednesday, July 30th. Morgan Stanley restated an “overweight” rating on shares of Rio Tinto in a report on Wednesday, October 8th. Weiss Ratings restated a “hold (c)” 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 equities research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $73.00.

Rio Tinto Stock Performance

Rio Tinto stock opened at $70.43 on Tuesday. Rio Tinto PLC has a 1-year low of $51.67 and a 1-year high of $73.76. The company has a fifty day simple moving average of $65.92 and a 200 day simple moving average of $62.19. The company has a quick ratio of 1.03, a current ratio of 1.53 and a debt-to-equity ratio of 0.37.

Rio Tinto 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.