Keybank National Association OH Boosts Holdings in Rio Tinto PLC $RIO

Keybank National Association OH raised its stake in Rio Tinto PLC (NYSE:RIO) by 30.2% in the first quarter, HoldingsChannel reports. The fund owned 46,873 shares of the mining company’s stock after purchasing an additional 10,859 shares during the period. Keybank National Association OH’s holdings in Rio Tinto were worth $4,373,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Fisher Asset Management LLC raised its stake in shares of Rio Tinto by 2.7% during the 4th quarter. Fisher Asset Management LLC now owns 19,642,744 shares of the mining company’s stock worth $1,572,009,000 after buying an additional 522,576 shares during the period. Arrowstreet Capital Limited Partnership grew its position in Rio Tinto by 170.8% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 3,886,335 shares of the mining company’s stock worth $311,023,000 after acquiring an additional 2,451,140 shares during the period. Bank of America Corp DE increased its position in shares of Rio Tinto by 31.9% during the 3rd quarter. Bank of America Corp DE now owns 3,157,545 shares of the mining company’s stock worth $208,430,000 after purchasing an additional 763,786 shares during the last quarter. Bank of Montreal Can boosted its position in shares of Rio Tinto by 8.6% during the 4th quarter. Bank of Montreal Can now owns 2,221,469 shares of the mining company’s stock worth $177,784,000 after purchasing an additional 175,833 shares during the period. Finally, Deutsche Bank AG increased its holdings in Rio Tinto by 102.6% in the 4th quarter. Deutsche Bank AG now owns 2,216,935 shares of the mining company’s stock valued at $177,421,000 after purchasing an additional 1,122,667 shares during the last quarter. Institutional investors and hedge funds own 19.33% of the company’s stock.

Analyst Upgrades and Downgrades

RIO has been the topic of several research reports. Bank of America cut shares of Rio Tinto from a “buy” rating to a “neutral” rating in a research report on Friday, May 22nd. Sanford C. Bernstein raised their price target on Rio Tinto from $82.00 to $83.50 and gave the company an “outperform” rating in a research note on Monday, April 27th. JPMorgan Chase & Co. cut shares of Rio Tinto from an “overweight” rating to a “neutral” rating in a report on Monday, March 9th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating on shares of Rio Tinto in a research report on Friday, May 15th. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of Rio Tinto in a research report on Wednesday, May 20th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Rio Tinto presently has an average rating of “Hold” and a consensus target price of $101.75.

Rio Tinto Trading Up 0.0%

RIO opened at $94.44 on Friday. The company has a quick ratio of 0.98, a current ratio of 1.44 and a debt-to-equity ratio of 0.33. Rio Tinto PLC has a 52 week low of $57.65 and a 52 week high of $112.58. The business’s 50 day moving average is $102.14 and its two-hundred day moving average is $94.56.

About Rio Tinto

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.