Sei Investments Co. Increases Stock Holdings in Rio Tinto PLC $RIO

Sei Investments Co. increased its position in shares of Rio Tinto PLC (NYSE:RIO) by 1.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 564,191 shares of the mining company’s stock after purchasing an additional 6,407 shares during the period. Sei Investments Co.’s holdings in Rio Tinto were worth $52,635,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Cubist Systematic Strategies LLC acquired a new stake in shares of Rio Tinto during the 1st quarter worth approximately $84,000. AQR Capital Management LLC lifted its holdings in Rio Tinto by 78.4% in the first quarter. AQR Capital Management LLC now owns 12,087 shares of the mining company’s stock valued at $726,000 after acquiring an additional 5,310 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in 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 acquiring an additional 1,968 shares during the period. Empowered Funds LLC grew its position in 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 acquiring an additional 288 shares during the period. Finally, Focus Partners Wealth increased its stake in Rio Tinto by 16.7% during the first quarter. Focus Partners Wealth now owns 15,985 shares of the mining company’s stock worth $962,000 after acquiring an additional 2,285 shares during the last quarter. 19.33% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

RIO has been the topic of a number of research analyst reports. Deutsche Bank Aktiengesellschaft restated a “hold” rating on shares of Rio Tinto in a research report on Friday, May 15th. Zacks Research downgraded Rio Tinto from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 7th. Sanford C. Bernstein boosted their price objective on shares of Rio Tinto from $82.00 to $83.50 and gave the company an “outperform” rating in a report on Monday, April 27th. Citigroup reaffirmed a “neutral” rating on shares of Rio Tinto in a research report on Thursday, July 9th. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Rio Tinto in a research note on Wednesday, May 20th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, seven have given a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $101.75.

Rio Tinto Stock Down 0.3%

Shares of RIO opened at $91.25 on Friday. Rio Tinto PLC has a fifty-two week low of $58.40 and a fifty-two week high of $112.58. The company has a quick ratio of 0.98, a current ratio of 1.44 and a debt-to-equity ratio of 0.33. The firm’s 50 day moving average price is $98.44 and its 200 day moving average price is $95.77.

Rio Tinto Company Profile

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.