Aberdeen Group plc Acquires 6,600 Shares of Rio Tinto PLC $RIO

Key Points

• Aberdeen Group plc increased its stake in Rio Tinto PLC by 3.3%, acquiring an additional 6,600 shares during the second quarter, bringing its total holdings to 208,700 shares valued at approximately $12.17 million.
• Several institutional investors also adjusted their positions in Rio Tinto, with firms like Callan Family Office LLC increasing their holdings by 191.4% during the same period.
• Rio Tinto's stock currently holds a consensus rating of "Moderate Buy" with a target price of $73.00, reflecting positive sentiments from various analysts despite recent varied rating changes.

Aberdeen Group plc boosted its holdings in shares of Rio Tinto PLC (NYSE:RIO - Free Report) by 3.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 208,700 shares of the mining company's stock after acquiring an additional 6,600 shares during the period. Aberdeen Group plc's holdings in Rio Tinto were worth $12,173,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Allen Wealth Management LLC grew its holdings in Rio Tinto by 3.2% during the 2nd quarter. Allen Wealth Management LLC now owns 27,037 shares of the mining company's stock worth $1,577,000 after acquiring an additional 838 shares in the last quarter. Callan Family Office LLC grew its holdings in Rio Tinto by 191.4% during the 2nd quarter. Callan Family Office LLC now owns 42,960 shares of the mining company's stock worth $2,506,000 after acquiring an additional 28,215 shares in the last quarter. Blair William & Co. IL grew its holdings in Rio Tinto by 17.8% during the 2nd quarter. Blair William & Co. IL now owns 16,453 shares of the mining company's stock worth $960,000 after acquiring an additional 2,483 shares in the last quarter. Live Oak Investment Partners grew its holdings in Rio Tinto by 0.8% during the 2nd quarter. Live Oak Investment Partners now owns 19,812 shares of the mining company's stock worth $1,156,000 after acquiring an additional 162 shares in the last quarter. Finally, Columbus Macro LLC bought a new position in Rio Tinto during the 2nd quarter worth about $1,610,000. 19.33% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

RIO has been the topic of several recent research reports. Berenberg Bank reiterated a "hold" rating on shares of Rio Tinto in a report on Thursday, July 3rd. Barclays reissued an "overweight" rating on shares of Rio Tinto in a research report on Wednesday, July 2nd. Zacks Research raised shares of Rio Tinto from a "hold" rating to a "strong-buy" rating in a research report on Monday, October 6th. Morgan Stanley reissued an "overweight" rating on shares of Rio Tinto in a research report on Wednesday, October 8th. Finally, Deutsche Bank Aktiengesellschaft lowered shares of Rio Tinto from a "buy" rating to a "hold" rating in a research report on Wednesday, July 30th. Three investment analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and four have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $73.00.

Rio Tinto Stock Performance

Shares of Rio Tinto stock opened at $68.88 on Thursday. The firm has a market capitalization of $86.39 billion, a P/E ratio of 10.68, a PEG ratio of 4.79 and a beta of 0.66. The company has a quick ratio of 1.03, a current ratio of 1.53 and a debt-to-equity ratio of 0.37. The company has a 50 day moving average price of $63.67 and a 200 day moving average price of $60.83. Rio Tinto PLC has a 52 week low of $51.67 and a 52 week high of $69.30.

Rio Tinto Cuts Dividend

The business also recently disclosed a semi-annual dividend, which was paid on Thursday, September 25th. Investors of record on Friday, August 15th were given a $1.48 dividend. This represents a dividend yield of 620.0%. The ex-dividend date of this dividend was Friday, August 15th. Rio Tinto's dividend payout ratio (DPR) is presently 45.74%.

Rio Tinto Company Profile

Rio Tinto Group engages in exploring, mining, and processing mineral resources worldwide. The company operates through Iron Ore, Aluminium, Copper, and Minerals Segments. The Iron Ore segment engages in the iron ore mining, and salt and gypsum production in Western Australia. The Aluminum segment is involved in bauxite mining; alumina refining; and aluminium smelting.

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