Aspen Wealth Strategies LLC Has $289,000 Position in Rio Tinto PLC (NYSE:RIO)

Aspen Wealth Strategies LLC increased its position in Rio Tinto PLC (NYSE:RIO) by 3.7% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,810 shares of the mining company’s stock after buying an additional 172 shares during the quarter. Aspen Wealth Strategies LLC’s holdings in Rio Tinto were worth $289,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. Rakuten Securities Inc. boosted its holdings in Rio Tinto by 74.8% in the fourth quarter. Rakuten Securities Inc. now owns 493 shares of the mining company’s stock valued at $29,000 after acquiring an additional 211 shares during the last quarter. Mechanics Financial Corp bought a new stake in Rio Tinto in the fourth quarter valued at approximately $29,000. Alpine Bank Wealth Management bought a new stake in Rio Tinto in the first quarter valued at approximately $30,000. Wayfinding Financial LLC bought a new stake in Rio Tinto in the first quarter valued at approximately $30,000. Finally, Bfsg LLC boosted its holdings in Rio Tinto by 5,754.5% in the first quarter. Bfsg LLC now owns 644 shares of the mining company’s stock valued at $39,000 after acquiring an additional 633 shares during the last quarter. 19.33% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have issued reports on RIO. Morgan Stanley cut Rio Tinto from an “overweight” rating to an “equal weight” rating in a report on Wednesday, April 9th. Berenberg Bank restated a “hold” rating on shares of Rio Tinto in a report on Thursday, July 3rd. JPMorgan Chase & Co. assumed coverage on Rio Tinto in a report on Tuesday, March 18th. They set an “overweight” rating on the stock. Barclays reaffirmed an “overweight” rating on shares of Rio Tinto in a research report on Wednesday, July 2nd. Finally, DZ Bank raised Rio Tinto from a “hold” rating to a “strong-buy” rating in a research report on Thursday, March 27th. Five investment analysts have rated the stock with a hold rating, four have issued a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $73.00.

Rio Tinto Trading Up 1.9%

NYSE RIO opened at $58.73 on Wednesday. The firm has a market capitalization of $73.65 billion, a P/E ratio of 9.11 and a beta of 0.66. The business has a fifty day simple moving average of $59.45 and a 200 day simple moving average of $60.05. Rio Tinto PLC has a 12 month low of $51.67 and a 12 month high of $72.08. The company has a current ratio of 1.63, a quick ratio of 1.13 and a debt-to-equity ratio of 0.23.

About Rio Tinto

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.