Rio Tinto PLC $RIO Shares Bought by TD Waterhouse Canada Inc.

TD Waterhouse Canada Inc. raised its holdings in shares of Rio Tinto PLC (NYSE:RIO) by 4.2% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 33,741 shares of the mining company’s stock after acquiring an additional 1,349 shares during the quarter. TD Waterhouse Canada Inc.’s holdings in Rio Tinto were worth $1,964,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in the business. IFP Advisors Inc increased its stake in Rio Tinto by 27.7% in the first quarter. IFP Advisors Inc now owns 1,324 shares of the mining company’s stock valued at $80,000 after purchasing an additional 287 shares during the last quarter. Choreo LLC boosted its holdings in shares of Rio Tinto by 2.9% in the 1st quarter. Choreo LLC now owns 25,622 shares of the mining company’s stock valued at $1,596,000 after buying an additional 719 shares in the last quarter. AE Wealth Management LLC grew its position in shares of Rio Tinto by 6.3% in the 1st quarter. AE Wealth Management LLC now owns 9,390 shares of the mining company’s stock valued at $564,000 after buying an additional 556 shares during the last quarter. Argonautica Private Wealth Management Inc. raised its stake in Rio Tinto by 20.0% during the 1st quarter. Argonautica Private Wealth Management Inc. now owns 4,340 shares of the mining company’s stock worth $261,000 after acquiring an additional 724 shares in the last quarter. Finally, Kovack Advisors Inc. lifted its position in Rio Tinto by 8.2% in the first quarter. Kovack Advisors Inc. now owns 8,077 shares of the mining company’s stock valued at $485,000 after acquiring an additional 610 shares during the last quarter. Hedge funds and other institutional investors own 19.33% of the company’s stock.

Rio Tinto Stock Performance

Shares of RIO opened at $69.96 on Friday. The company has a quick ratio of 1.03, a current ratio of 1.53 and a debt-to-equity ratio of 0.37. The stock’s 50 day moving average is $67.95 and its two-hundred day moving average is $63.13. Rio Tinto PLC has a twelve month low of $51.67 and a twelve month high of $73.76.

Analysts Set New Price Targets

A number of analysts have recently commented on RIO shares. Deutsche Bank Aktiengesellschaft cut Rio Tinto from a “buy” rating to a “hold” rating in a research report on Wednesday, July 30th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Rio Tinto in a research report on Wednesday, October 8th. Zacks Research downgraded Rio Tinto from a “strong-buy” rating to a “hold” rating in a report on Wednesday. Citigroup restated a “hold” rating on shares of Rio Tinto in a research report on Monday. Finally, Morgan Stanley reiterated an “overweight” rating on shares of Rio Tinto in a research report on Wednesday, October 8th. Two research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average 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.