Foundations Investment Advisors LLC Invests $322,000 in Rio Tinto PLC $RIO

Foundations Investment Advisors LLC acquired a new stake in Rio Tinto PLC (NYSE:RIO) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 5,524 shares of the mining company’s stock, valued at approximately $322,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Kingsview Wealth Management LLC grew its stake in Rio Tinto by 7.5% in the first quarter. Kingsview Wealth Management LLC now owns 5,309 shares of the mining company’s stock valued at $319,000 after purchasing an additional 371 shares in the last quarter. Private Advisor Group LLC grew its stake in shares of Rio Tinto by 13.2% in the first quarter. Private Advisor Group LLC now owns 41,802 shares of the mining company’s stock valued at $2,512,000 after buying an additional 4,881 shares in the last quarter. Kestra Private Wealth Services LLC increased its holdings in Rio Tinto by 16.6% during the first quarter. Kestra Private Wealth Services LLC now owns 23,867 shares of the mining company’s stock worth $1,434,000 after buying an additional 3,401 shares during the last quarter. IFP Advisors Inc raised its position in Rio Tinto by 27.7% during the first quarter. IFP Advisors Inc now owns 1,324 shares of the mining company’s stock worth $80,000 after acquiring an additional 287 shares in the last quarter. Finally, Choreo LLC lifted its stake in Rio Tinto by 2.9% in the first quarter. Choreo LLC now owns 25,622 shares of the mining company’s stock valued at $1,596,000 after acquiring an additional 719 shares during the last quarter. Institutional investors own 19.33% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Weiss Ratings restated a “hold (c)” rating on shares of Rio Tinto in a research note on Wednesday, October 8th. Deutsche Bank Aktiengesellschaft cut Rio Tinto from a “buy” rating to a “hold” rating in a report on Wednesday, July 30th. Citigroup restated a “neutral” rating on shares of Rio Tinto in a research note on Monday. Zacks Research raised Rio Tinto from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 6th. Finally, Morgan Stanley reissued an “overweight” rating on shares of Rio Tinto in a report on Wednesday, October 8th. Three analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $73.00.

Rio Tinto Price Performance

Rio Tinto stock opened at $69.46 on Thursday. The company’s 50-day moving average price is $67.67 and its two-hundred day moving average price is $63.02. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.53 and a quick ratio of 1.03. Rio Tinto PLC has a twelve month low of $51.67 and a twelve month high of $73.76.

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.