SG Americas Securities LLC Raises Stock Holdings in Rio Tinto PLC $RIO

SG Americas Securities LLC grew its stake in shares of Rio Tinto PLC (NYSE:RIO) by 84.0% during the first quarter, HoldingsChannel.com reports. The fund owned 206,862 shares of the mining company’s stock after buying an additional 94,424 shares during the quarter. SG Americas Securities LLC’s holdings in Rio Tinto were worth $19,298,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Arrowstreet Capital Limited Partnership raised its holdings 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 valued at $311,023,000 after purchasing an additional 2,451,140 shares during the last quarter. Milford Funds Ltd. purchased a new stake in Rio Tinto in the fourth quarter worth 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 worth $177,421,000 after purchasing an additional 1,122,667 shares during the last quarter. Natixis Advisors LLC grew its position in Rio Tinto by 144.7% in the 4th quarter. Natixis Advisors LLC now owns 1,587,387 shares of the mining company’s stock worth $127,039,000 after purchasing an additional 938,687 shares during the period. Finally, Bank of America Corp DE grew its position in Rio Tinto by 31.9% in the 3rd quarter. Bank of America Corp DE now owns 3,157,545 shares of the mining company’s stock worth $208,430,000 after purchasing an additional 763,786 shares during the period. 19.33% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Weiss Ratings reissued a “buy (b-)” rating on shares of Rio Tinto in a report on Wednesday, May 20th. Sanford C. Bernstein lifted their price objective on Rio Tinto from $82.00 to $83.50 and gave the stock an “outperform” rating in a report on Monday, April 27th. DZ Bank upgraded Rio Tinto from a “hold” rating to a “strong-buy” rating in a research report on Friday, May 29th. Argus set a $120.00 target price on Rio Tinto in a report on Monday, April 27th. Finally, Bank of America cut Rio Tinto from a “buy” rating to a “neutral” rating in a research report on Friday, May 22nd. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $101.75.

Rio Tinto Stock Performance

Shares of Rio Tinto stock opened at $94.95 on Friday. The company’s fifty day simple moving average is $102.76 and its 200-day simple moving average is $93.89. Rio Tinto PLC has a 1-year low of $57.65 and a 1-year high of $112.58. 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.