BNP Paribas Arbitrage SA Increases Position in Rio Tinto PLC (RIO)

BNP Paribas Arbitrage SA boosted its stake in shares of Rio Tinto PLC (NYSE:RIO) by 121.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 36,243 shares of the mining company’s stock after buying an additional 19,893 shares during the period. BNP Paribas Arbitrage SA’s holdings in Rio Tinto PLC were worth $1,474,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of RIO. Luminus Management LLC bought a new stake in Rio Tinto PLC during the fourth quarter worth approximately $138,568,000. Credit Suisse AG increased its stake in Rio Tinto PLC by 2,738.9% in the third quarter. Credit Suisse AG now owns 1,756,844 shares of the mining company’s stock worth $58,678,000 after buying an additional 1,694,960 shares in the last quarter. Impala Asset Management LLC increased its stake in Rio Tinto PLC by 31.5% in the fourth quarter. Impala Asset Management LLC now owns 4,416,713 shares of the mining company’s stock worth $169,866,000 after buying an additional 1,057,429 shares in the last quarter. Russell Investments Group Ltd. bought a new stake in Rio Tinto PLC during the fourth quarter worth approximately $11,756,000. Finally, Van ECK Associates Corp increased its stake in Rio Tinto PLC by 59.8% in the fourth quarter. Van ECK Associates Corp now owns 681,167 shares of the mining company’s stock worth $26,198,000 after buying an additional 255,005 shares in the last quarter. 7.06% of the stock is currently owned by institutional investors and hedge funds.

Institutional Ownership by Quarter for Rio Tinto PLC (NYSE:RIO)

Shares of Rio Tinto PLC (RIO) traded down 0.13% on Friday, hitting $39.30. 3,250,885 shares of the stock traded hands. Rio Tinto PLC has a 12-month low of $27.74 and a 12-month high of $47.11. The stock has a market cap of $70.71 billion, a price-to-earnings ratio of 15.39 and a beta of 1.01. The stock has a 50-day moving average price of $40.23 and a 200 day moving average price of $41.06.

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A number of analysts recently commented on RIO shares. Zacks Investment Research raised shares of Rio Tinto PLC from a “hold” rating to a “strong-buy” rating and set a $51.00 price objective on the stock in a report on Friday, February 24th. Axiom Securities restated a “sell” rating on shares of Rio Tinto PLC in a research report on Thursday, March 16th. Citigroup Inc. upgraded shares of Rio Tinto PLC from a “neutral” rating to a “buy” rating in a research report on Thursday, April 20th. BNP Paribas upgraded shares of Rio Tinto PLC from a “neutral” rating to an “outperform” rating in a research report on Thursday, April 20th. Finally, ValuEngine upgraded shares of Rio Tinto PLC from a “buy” rating to a “strong-buy” rating in a research report on Thursday, May 11th. Two analysts have rated the stock with a sell rating, five have issued a hold rating, thirteen have assigned a buy rating and three have given a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $41.86.

Rio Tinto PLC Company Profile

Rio Tinto plc is a mining and metals company. The Company’s business is finding, mining and processing mineral resources. The Company’s segments include Iron Ore, Aluminium, Copper & Diamonds, Energy & Minerals and Other Operations. The Company operates an iron ore business, supplying the global seaborne iron ore trade.

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