Brookfield Asset Management Inc. Continues to Hold Stake in Rio Tinto PLC (RIO)

Brookfield Asset Management Inc. maintained its position in Rio Tinto PLC (NYSE:RIO) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 172,250 shares of the mining company’s stock at the end of the first quarter. Brookfield Asset Management Inc.’s holdings in Rio Tinto PLC were worth $7,007,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the stock. Quantbot Technologies LP purchased a new position in Rio Tinto PLC during the first quarter valued at approximately $111,000. UBS Asset Management Americas Inc. purchased a new position in Rio Tinto PLC during the fourth quarter valued at approximately $119,000. Huntington National Bank increased its position in Rio Tinto PLC by 167.1% in the first quarter. Huntington National Bank now owns 3,707 shares of the mining company’s stock valued at $151,000 after buying an additional 2,319 shares during the last quarter. IFP Advisors Inc increased its position in Rio Tinto PLC by 267.6% in the first quarter. IFP Advisors Inc now owns 3,874 shares of the mining company’s stock valued at $158,000 after buying an additional 2,820 shares during the last quarter. Finally, CKW Financial Group purchased a new position in Rio Tinto PLC during the first quarter valued at approximately $163,000. Institutional investors and hedge funds own 7.06% of the company’s stock.

Institutional Ownership by Quarter for Rio Tinto PLC (NYSE:RIO)

Rio Tinto PLC (NYSE:RIO) traded up 0.84% on Wednesday, reaching $38.32. The company had a trading volume of 3,198,219 shares. The stock has a market capitalization of $68.94 billion, a PE ratio of 15.01 and a beta of 1.01. The stock’s 50 day moving average price is $40.15 and its 200-day moving average price is $41.10. Rio Tinto PLC has a 12-month low of $27.74 and a 12-month high of $47.11. Rio Tinto PLC also saw some unusual options trading activity on Tuesday. Investors purchased 11,458 put options on the company. This represents an increase of 248% compared to the typical daily volume of 3,295 put options.

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Several equities research analysts have issued reports on RIO shares. Zacks Investment Research upgraded Rio Tinto PLC from a “hold” rating to a “strong-buy” rating and set a $47.00 target price on the stock in a research report on Wednesday, April 12th. ValuEngine upgraded Rio Tinto PLC from a “buy” rating to a “strong-buy” rating in a research report on Thursday, May 11th. Citigroup Inc. upgraded Rio Tinto PLC from a “neutral” rating to a “buy” rating in a research report on Thursday, April 20th. Axiom Securities restated a “sell” rating on shares of Rio Tinto PLC in a research report on Thursday, March 16th. Finally, BNP Paribas upgraded Rio Tinto PLC from a “neutral” rating to an “outperform” rating in a research report on Thursday, April 20th. Four analysts have rated the stock with a sell rating, five have given a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $41.86.

Rio Tinto PLC Company Profile

Rio Tinto plc is a mining and metals company. The Company’s business is finding, mining and processing mineral resources. The Company’s segments include Iron Ore, Aluminium, Copper & Diamonds, Energy & Minerals and Other Operations. The Company operates an iron ore business, supplying the global seaborne iron ore trade.

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