BLB&B Advisors LLC Buys 1,304 Shares of Rio Tinto plc ADR (NYSE:RIO)

BLB&B Advisors LLC boosted its stake in shares of Rio Tinto plc ADR (NYSE:RIO) by 3.1% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 42,988 shares of the mining company’s stock after acquiring an additional 1,304 shares during the quarter. BLB&B Advisors LLC’s holdings in Rio Tinto were worth $2,680,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Financial Gravity Wealth Inc. purchased a new position in Rio Tinto during the first quarter worth $29,000. First Bank & Trust acquired a new position in Rio Tinto in the first quarter valued at $29,000. Arrow Financial Corp acquired a new position in Rio Tinto in the second quarter valued at $34,000. Manchester Financial Inc. acquired a new position in Rio Tinto in the second quarter valued at $41,000. Finally, Cornerstone Advisors Inc. boosted its holdings in Rio Tinto by 177.0% in the first quarter. Cornerstone Advisors Inc. now owns 950 shares of the mining company’s stock valued at $56,000 after acquiring an additional 607 shares during the last quarter. 8.64% of the stock is owned by institutional investors and hedge funds.

A number of analysts have recently issued reports on the company. Societe Generale raised Rio Tinto from a “sell” rating to a “hold” rating in a research report on Wednesday, May 22nd. Zacks Investment Research lowered Rio Tinto from a “buy” rating to a “hold” rating in a report on Thursday, August 8th. UBS Group reissued a “neutral” rating on shares of Rio Tinto in a report on Friday, June 14th. BMO Capital Markets lowered Rio Tinto from an “outperform” rating to a “market perform” rating in a report on Thursday, June 27th. Finally, Goldman Sachs Group raised Rio Tinto from a “neutral” rating to a “buy” rating in a report on Monday, May 27th. Seven equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and three have issued a buy rating to the company. Rio Tinto has an average rating of “Hold” and an average price target of $59.77.

NYSE:RIO opened at $48.97 on Friday. The firm has a market capitalization of $63.61 billion, a PE ratio of 9.66 and a beta of 0.83. The firm has a 50-day moving average price of $57.60 and a 200 day moving average price of $58.41. The company has a quick ratio of 1.22, a current ratio of 1.55 and a debt-to-equity ratio of 0.30. Rio Tinto plc ADR has a 12-month low of $44.62 and a 12-month high of $64.02.

Rio Tinto Profile

Rio Tinto Group engages in finding, mining, and processing mineral resources worldwide. The company offers aluminium, silver, molybdenum, copper, diamonds, gold, borates, titanium dioxide, salt, iron ore, and uranium. It is also involved in the alumina production; primary aluminium smelting; bauxite mining; alumina refining; and ilmenite mining, as well as provision of gypsum.

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

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