Stock Yards Bank & Trust Co. Increases Holdings in Rio Tinto PLC $RIO

Stock Yards Bank & Trust Co. lifted its position in Rio Tinto PLC (NYSE:RIOFree Report) by 409.9% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 21,099 shares of the mining company’s stock after buying an additional 16,961 shares during the period. Stock Yards Bank & Trust Co.’s holdings in Rio Tinto were worth $1,393,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of RIO. Cubist Systematic Strategies LLC purchased a new position in Rio Tinto in the first quarter worth about $84,000. AQR Capital Management LLC lifted its stake in shares of Rio Tinto by 78.4% in the 1st quarter. AQR Capital Management LLC now owns 12,087 shares of the mining company’s stock worth $726,000 after purchasing an additional 5,310 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Rio Tinto by 20.7% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 11,485 shares of the mining company’s stock worth $690,000 after buying an additional 1,968 shares during the last quarter. Empowered Funds LLC boosted its holdings in shares of Rio Tinto by 5.8% in the first quarter. Empowered Funds LLC now owns 5,280 shares of the mining company’s stock worth $317,000 after buying an additional 288 shares during the last quarter. Finally, Focus Partners Wealth grew its position in Rio Tinto by 16.7% during the first quarter. Focus Partners Wealth now owns 15,985 shares of the mining company’s stock valued at $962,000 after buying an additional 2,285 shares during the period. Hedge funds and other institutional investors own 19.33% of the company’s stock.

Analysts Set New Price Targets

RIO has been the topic of several recent research reports. Citigroup reiterated a “hold” rating on shares of Rio Tinto in a research report on Monday, November 17th. Zacks Research upgraded Rio Tinto from a “hold” rating to a “strong-buy” rating in a research report on Monday, December 29th. Morgan Stanley restated an “overweight” rating on shares of Rio Tinto in a research report on Wednesday, January 14th. Argus lifted their price objective on Rio Tinto from $70.00 to $85.00 and gave the company a “buy” rating in a research report on Thursday, December 11th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Rio Tinto in a report on Monday, December 29th. Three analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $85.00.

Check Out Our Latest Stock Analysis on RIO

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Rio Tinto Stock Performance

NYSE RIO opened at $88.85 on Thursday. 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 business has a 50-day moving average price of $77.69 and a 200-day moving average price of $69.00. Rio Tinto PLC has a twelve month low of $51.67 and a twelve month high of $89.78.

Rio Tinto Company Profile

(Free Report)

Rio Tinto is a global mining and metals company that explores for, mines, processes and markets a wide range of commodities. Its principal products include iron ore, aluminum, copper, diamonds and various other minerals and industrial materials. The company’s activities span the full value chain from exploration and project development to mining, processing, smelting and refining, supplying raw materials to industries such as steelmaking, automotive, packaging, electronics and construction.

The origins of Rio Tinto date back to mining operations in the Rio Tinto region of Spain in the 19th century, and the group has since grown into a multinational enterprise.

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

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