Rio Tinto PLC $RIO Stock Holdings Increased by Provenance Wealth Advisors LLC

Provenance Wealth Advisors LLC raised its holdings in shares of Rio Tinto PLC (NYSE:RIO) by 750.0% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 10,200 shares of the mining company’s stock after acquiring an additional 9,000 shares during the quarter. Provenance Wealth Advisors LLC’s holdings in Rio Tinto were worth $961,000 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. Timbuktu Capital Management LLC acquired a new stake in Rio Tinto during the second quarter worth approximately $28,000. Center for Financial Planning Inc. purchased a new stake in shares of Rio Tinto during the 3rd quarter worth approximately $28,000. V Square Quantitative Management LLC purchased a new stake in shares of Rio Tinto during the 1st quarter worth approximately $35,000. Lodestone Wealth Management LLC boosted its holdings in shares of Rio Tinto by 92.8% in the 3rd quarter. Lodestone Wealth Management LLC now owns 374 shares of the mining company’s stock valued at $35,000 after buying an additional 180 shares in the last quarter. Finally, Costello Asset Management INC acquired a new position in shares of Rio Tinto in the 1st quarter valued at $37,000. Hedge funds and other institutional investors own 19.33% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on RIO. JPMorgan Chase & Co. reiterated a “neutral” rating on shares of Rio Tinto in a research note on Thursday, July 30th. Sanford C. Bernstein boosted their price target on shares of Rio Tinto from $88.50 to $89.50 and gave the company an “outperform” rating in a research report on Wednesday, September 9th. Erste Group Bank downgraded shares of Rio Tinto from a “buy” rating to a “hold” rating in a research note on Thursday, August 27th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Rio Tinto in a report on Wednesday, October 28th. Finally, Argus raised Rio Tinto to a “strong-buy” rating in a report on Thursday, August 20th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, thirteen have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $101.62.

Rio Tinto Price Performance

Shares of Rio Tinto stock opened at $84.50 on Thursday. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.42 and a quick ratio of 0.93. Rio Tinto PLC has a 1 year low of $68.18 and a 1 year high of $112.58. The company’s fifty day moving average is $94.02 and its two-hundred day moving average is $96.21.

Rio Tinto Profile

Rio Tinto plc is a diversified mining and metals company with operations and projects spanning multiple continents. Its principal products include iron ore, aluminum, copper, lithium, borates and titanium dioxide, which are supplied to customers in the steel, construction, automotive, technology and manufacturing industries.

The company explores for, mines, processes and transports mineral resources, while also operating related infrastructure such as railways, ports, smelters and processing facilities.