10,155 Shares in Rio Tinto PLC $RIO Acquired by Dickmeyer Boyce Financial Management Inc.

Dickmeyer Boyce Financial Management Inc. bought a new stake in Rio Tinto PLC (NYSE:RIO) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 10,155 shares of the mining company’s stock, valued at approximately $947,000.

A number of other institutional investors also recently added to or reduced their stakes in the company. Arrowstreet Capital Limited Partnership grew its stake in shares of Rio Tinto by 170.8% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 3,886,335 shares of the mining company’s stock worth $311,023,000 after purchasing an additional 2,451,140 shares in the last quarter. Milford Funds Ltd. acquired a new position in Rio Tinto in the fourth quarter valued at approximately $93,143,000. Deutsche Bank AG boosted its holdings in Rio Tinto by 102.6% in the fourth quarter. Deutsche Bank AG now owns 2,216,935 shares of the mining company’s stock valued at $177,421,000 after purchasing an additional 1,122,667 shares in the last quarter. Natixis Advisors LLC increased its stake in Rio Tinto by 144.7% in the fourth quarter. Natixis Advisors LLC now owns 1,587,387 shares of the mining company’s stock valued at $127,039,000 after purchasing an additional 938,687 shares during the last quarter. Finally, Bank of America Corp DE increased its stake in Rio Tinto by 31.9% in the third quarter. Bank of America Corp DE now owns 3,157,545 shares of the mining company’s stock valued at $208,430,000 after purchasing an additional 763,786 shares during the last quarter. Hedge funds and other institutional investors own 19.33% of the company’s stock.

Analysts Set New Price Targets

RIO has been the subject of a number of research analyst reports. Sanford C. Bernstein upped their target price on Rio Tinto from $82.00 to $83.50 and gave the company an “outperform” rating in a research report on Monday, April 27th. Bank of America lowered shares of Rio Tinto from a “buy” rating to a “neutral” rating in a research report on Friday, May 22nd. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Rio Tinto in a report on Wednesday, May 20th. Morgan Stanley downgraded shares of Rio Tinto from an “equal weight” rating to an “underweight” rating in a research report on Wednesday, July 8th. Finally, Citigroup reiterated a “neutral” rating on shares of Rio Tinto in a research note on Thursday, July 9th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, seven have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $101.75.

Rio Tinto Stock Performance

RIO stock opened at $91.56 on Friday. Rio Tinto PLC has a 52 week low of $58.40 and a 52 week high of $112.58. The company’s 50-day moving average price is $98.69 and its 200 day moving average price is $95.80. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.44 and a quick ratio of 0.98.

About Rio Tinto

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.