DJE Kapital AG Invests $4.85 Million in Rio Tinto PLC $RIO

DJE Kapital AG bought a new stake in Rio Tinto PLC (NYSE:RIO) in the 1st quarter, Holdings Channel reports. The fund bought 54,828 shares of the mining company’s stock, valued at approximately $4,853,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. AdvisorNet Financial Inc lifted its holdings in Rio Tinto by 160.2% in the 1st quarter. AdvisorNet Financial Inc now owns 294 shares of the mining company’s stock worth $27,000 after buying an additional 181 shares in the last quarter. PFS Partners LLC acquired a new stake in shares of Rio Tinto during the fourth quarter valued at about $28,000. Nvest Wealth Strategies Inc. purchased a new stake in shares of Rio Tinto during the fourth quarter worth about $28,000. Trust Co. of Toledo NA OH purchased a new stake in shares of Rio Tinto during the fourth quarter worth about $34,000. Finally, Evelyn Partners Investment Management LLP acquired a new position in shares of Rio Tinto in the fourth quarter worth about $34,000. Hedge funds and other institutional investors own 19.33% of the company’s stock.

Analysts Set New Price Targets

RIO has been the subject of a number of analyst reports. Weiss Ratings reissued a “buy (b-)” rating on shares of Rio Tinto in a report on Wednesday, May 20th. DZ Bank upgraded Rio Tinto from a “hold” rating to a “strong-buy” rating in a report on Friday, May 29th. Argus set a $120.00 target price on Rio Tinto in a research report on Monday, April 27th. Royal Bank Of Canada cut Rio Tinto from a “sector perform” rating to an “underperform” rating in a research note on Wednesday, June 3rd. Finally, Deutsche Bank Aktiengesellschaft reissued a “hold” rating on shares of Rio Tinto in a research report on Friday, May 15th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, seven have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $101.75.

Rio Tinto Stock Performance

Shares of RIO stock opened at $89.12 on Tuesday. Rio Tinto PLC has a one year low of $58.40 and a one year high of $112.58. The company’s 50-day simple moving average is $99.82 and its 200-day simple moving average is $95.57. The company has a quick ratio of 0.98, a current ratio of 1.44 and a debt-to-equity ratio of 0.33.

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.