Dickmeyer Boyce Financial Management Inc. Acquires New Holdings in Rio Tinto PLC $RIO

Dickmeyer Boyce Financial Management Inc. bought a new stake in shares of Rio Tinto PLC (NYSE:RIO) in the 1st quarter, according to its most recent 13F filing with the SEC. The firm bought 10,155 shares of the mining company’s stock, valued at approximately $947,000.

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

Analysts Set New Price Targets

RIO has been the topic of a number of analyst reports. Bank of America cut Rio Tinto from a “buy” rating to a “neutral” rating in a report on Friday, May 22nd. Morgan Stanley cut Rio Tinto from an “equal weight” rating to an “underweight” rating in a report on Wednesday, July 8th. Argus set a $120.00 target price on shares of Rio Tinto in a research note on Monday, April 27th. Zacks Research lowered shares of Rio Tinto from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 7th. Finally, Royal Bank Of Canada lowered shares of Rio Tinto from a “sector perform” rating to an “underperform” rating in a report on Wednesday, June 3rd. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, seven have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $101.75.

Rio Tinto Stock Performance

NYSE RIO opened at $91.56 on Friday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.98 and a current ratio of 1.44. Rio Tinto PLC has a fifty-two week low of $58.40 and a fifty-two week high of $112.58. The business has a 50 day moving average price of $98.69 and a two-hundred day moving average price of $95.80.

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.