Wealth Alliance LLC Purchases Shares of 5,646 Rio Tinto PLC $RIO

Wealth Alliance LLC acquired a new position in Rio Tinto PLC (NYSE:RIO) in the 1st quarter, HoldingsChannel.com reports. The firm acquired 5,646 shares of the mining company’s stock, valued at approximately $527,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. AdvisorNet Financial Inc raised its holdings in shares of Rio Tinto by 160.2% during the first quarter. AdvisorNet Financial Inc now owns 294 shares of the mining company’s stock worth $27,000 after purchasing an additional 181 shares during the last quarter. PFS Partners LLC acquired a new stake in Rio Tinto during the 4th quarter worth about $28,000. Nvest Wealth Strategies Inc. purchased a new position in shares of Rio Tinto during the 4th quarter valued at about $28,000. Trust Co. of Toledo NA OH purchased a new position in shares of Rio Tinto during the 4th quarter valued at about $34,000. Finally, Evelyn Partners Investment Management LLP purchased a new position in shares of Rio Tinto during the 4th quarter valued at about $34,000. Institutional investors and hedge funds own 19.33% of the company’s stock.

Rio Tinto Stock Performance

Shares of NYSE RIO opened at $91.25 on Monday. The company’s 50-day simple moving average is $98.44 and its 200-day simple moving average is $95.86. Rio Tinto PLC has a 52-week low of $58.40 and a 52-week high of $112.58. The company has a current ratio of 1.44, a quick ratio of 0.98 and a debt-to-equity ratio of 0.33.

Analyst Ratings Changes

Several research firms recently commented on RIO. Sanford C. Bernstein raised their target price on Rio Tinto from $82.00 to $83.50 and gave the stock an “outperform” rating in a report on Monday, April 27th. Royal Bank Of Canada downgraded Rio Tinto from a “sector perform” rating to an “underperform” rating in a report on Wednesday, June 3rd. DZ Bank upgraded Rio Tinto from a “hold” rating to a “strong-buy” rating in a research report on Friday, May 29th. Bank of America cut shares of Rio Tinto from a “buy” rating to a “neutral” rating in a research note on Friday, May 22nd. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Rio Tinto in a report on Wednesday, May 20th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, seven have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, Rio Tinto presently has an average rating of “Hold” and a consensus target price of $101.75.

Rio Tinto 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.