Rio Tinto PLC (NYSE:RIO) Shares Bought by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. lifted its stake in shares of Rio Tinto PLC (NYSE:RIO) by 1.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 55,131 shares of the mining company’s stock after acquiring an additional 550 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Rio Tinto were worth $3,312,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the company. Dorsey & Whitney Trust CO LLC increased its stake in Rio Tinto by 2.0% in the 4th quarter. Dorsey & Whitney Trust CO LLC now owns 8,113 shares of the mining company’s stock worth $477,000 after purchasing an additional 160 shares in the last quarter. Capital Analysts LLC boosted its holdings in Rio Tinto by 6.0% in the 4th quarter. Capital Analysts LLC now owns 2,886 shares of the mining company’s stock valued at $170,000 after purchasing an additional 163 shares during the period. Nemes Rush Group LLC boosted its holdings in Rio Tinto by 10.0% in the 4th quarter. Nemes Rush Group LLC now owns 1,855 shares of the mining company’s stock valued at $109,000 after purchasing an additional 169 shares during the period. Walker Asset Management LLC lifted its stake in shares of Rio Tinto by 4.8% in the first quarter. Walker Asset Management LLC now owns 4,326 shares of the mining company’s stock valued at $260,000 after buying an additional 200 shares during the period. Finally, Quintet Private Bank Europe S.A. lifted its stake in shares of Rio Tinto by 10.0% in the first quarter. Quintet Private Bank Europe S.A. now owns 2,200 shares of the mining company’s stock valued at $132,000 after buying an additional 200 shares during the period. 19.33% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts recently commented on RIO shares. Barclays reaffirmed an “overweight” rating on shares of Rio Tinto in a research report on Wednesday. Jefferies Financial Group restated a “hold” rating on shares of Rio Tinto in a research report on Tuesday, June 3rd. JPMorgan Chase & Co. started coverage on shares of Rio Tinto in a report on Tuesday, March 18th. They set an “overweight” rating for the company. DZ Bank upgraded shares of Rio Tinto from a “hold” rating to a “strong-buy” rating in a research note on Thursday, March 27th. Finally, Wall Street Zen downgraded shares of Rio Tinto from a “strong-buy” rating to a “buy” rating in a research note on Monday, April 28th. Five research analysts have rated the stock with a hold rating, four have assigned a buy rating and three have given a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $73.00.

Rio Tinto Stock Performance

Shares of Rio Tinto stock opened at $58.94 on Friday. The firm has a fifty day moving average of $59.56 and a two-hundred day moving average of $60.05. The stock has a market capitalization of $73.91 billion, a price-to-earnings ratio of 9.14 and a beta of 0.66. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.13 and a current ratio of 1.63. Rio Tinto PLC has a 52 week low of $51.67 and a 52 week high of $72.08.

Rio Tinto Company 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.