Bridgewater Advisors Inc. Makes New $201,000 Investment in Rio Tinto PLC (NYSE:RIO)

Bridgewater Advisors Inc. bought a new position in shares of Rio Tinto PLC (NYSE:RIO) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund bought 3,301 shares of the mining company’s stock, valued at approximately $201,000.

A number of other large investors have also bought and sold shares of RIO. Franklin Resources Inc. grew its position in shares of Rio Tinto by 1.4% in the 4th quarter. Franklin Resources Inc. now owns 5,115,476 shares of the mining company’s stock worth $300,841,000 after buying an additional 70,131 shares during the period. FMR LLC raised its holdings in shares of Rio Tinto by 24.6% in the fourth quarter. FMR LLC now owns 1,721,690 shares of the mining company’s stock valued at $101,253,000 after acquiring an additional 339,924 shares in the last quarter. Northern Trust Corp raised its holdings in Rio Tinto by 18.9% in the fourth quarter. Northern Trust Corp now owns 1,603,037 shares of the mining company’s stock worth $94,275,000 after purchasing an additional 255,151 shares in the last quarter. Deutsche Bank AG boosted its position in Rio Tinto by 143,872.8% in the fourth quarter. Deutsche Bank AG now owns 1,264,081 shares of the mining company’s stock valued at $74,341,000 after buying an additional 1,263,203 shares during the last quarter. Finally, Paloma Partners Management Co purchased a new stake in Rio Tinto in the 4th quarter worth approximately $40,032,000. 19.33% of the stock is currently owned by institutional investors and hedge funds.

Rio Tinto Price Performance

Shares of RIO opened at $60.03 on Friday. The stock has a market cap of $75.27 billion, a PE ratio of 9.31 and a beta of 0.66. The firm’s 50-day simple moving average is $59.49 and its two-hundred day simple moving average is $60.07. Rio Tinto PLC has a fifty-two week low of $51.67 and a fifty-two week high of $72.08. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.13 and a current ratio of 1.63.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Jefferies Financial Group reissued a “hold” rating on shares of Rio Tinto in a research report on Tuesday, June 3rd. Wall Street Zen lowered shares of Rio Tinto from a “strong-buy” rating to a “buy” rating in a research report on Monday, April 28th. Barclays reiterated an “overweight” rating on shares of Rio Tinto in a research note on Wednesday, July 2nd. Morgan Stanley reissued an “overweight” rating on shares of Rio Tinto in a report on Monday. Finally, DZ Bank raised Rio Tinto from a “hold” rating to a “strong-buy” rating in a research note on Thursday, March 27th. Four research analysts have rated the stock with a hold rating, five have assigned a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $73.00.

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.