Ameritas Advisory Services LLC Makes New Investment in Rio Tinto PLC $RIO

Key Points

• Ameritas Advisory Services initiated a position in Rio Tinto during the second quarter, purchasing 10,989 shares valued at approximately $1.04 million. Other major institutions also increased their holdings, with institutional investors collectively owning 19.33% of the company.
• Rio Tinto shares opened at $99.44, compared with a 52-week range of $61.72 to $112.58. The stock’s average analyst rating is “Hold,” with a consensus price target of $103.12.
• The company announced a dividend of $2.11 per share, payable September 24 to shareholders of record as of August 14, though the article’s reported 441.0% yield appears inconsistent with the stated dividend amount and share price.

Ameritas Advisory Services LLC bought a new position in shares of Rio Tinto PLC (NYSE:RIO - Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 10,989 shares of the mining company's stock, valued at approximately $1,043,000.

Several other large investors have also recently bought and sold shares of RIO. Fisher Asset Management LLC boosted its position in Rio Tinto by 2.7% during the 4th quarter. Fisher Asset Management LLC now owns 19,642,744 shares of the mining company's stock worth $1,572,009,000 after acquiring an additional 522,576 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its holdings in Rio Tinto by 170.8% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 3,886,335 shares of the mining company's stock worth $311,023,000 after buying an additional 2,451,140 shares during the last quarter. Bank of America Corp DE increased its holdings in Rio Tinto by 6.6% during the first quarter. Bank of America Corp DE now owns 3,623,294 shares of the mining company's stock worth $338,017,000 after buying an additional 225,016 shares during the last quarter. Bank of Montreal Can raised its position in Rio Tinto by 8.6% during the fourth quarter. Bank of Montreal Can now owns 2,221,469 shares of the mining company's stock worth $177,784,000 after acquiring an additional 175,833 shares in the last quarter. Finally, Deutsche Bank AG raised its position in Rio Tinto by 102.6% during the fourth quarter. Deutsche Bank AG now owns 2,216,935 shares of the mining company's stock worth $177,421,000 after acquiring an additional 1,122,667 shares in the last quarter. Institutional investors own 19.33% of the company's stock.

Rio Tinto Stock Performance

RIO stock opened at $99.44 on Friday. Rio Tinto PLC has a fifty-two week low of $61.72 and a fifty-two week high of $112.58. The business's fifty day moving average price is $97.54 and its two-hundred day moving average price is $98.04. The company has a current ratio of 1.42, a quick ratio of 0.93 and a debt-to-equity ratio of 0.29.

Rio Tinto Dividend Announcement

The firm also recently announced a dividend, which will be paid on Thursday, September 24th. Stockholders of record on Friday, August 14th will be issued a dividend of $2.11 per share. The ex-dividend date of this dividend is Friday, August 14th. This represents a dividend yield of 441.0%.

Wall Street Analysts Forecast Growth

RIO has been the subject of a number of analyst reports. Citigroup reissued a "neutral" rating on shares of Rio Tinto in a research report on Thursday, July 9th. Erste Group Bank cut shares of Rio Tinto from a "buy" rating to a "hold" rating in a report on Thursday, August 27th. Argus upgraded shares of Rio Tinto to a "strong-buy" rating in a research note on Thursday, August 20th. DZ Bank raised Rio Tinto from a "hold" rating to a "strong-buy" rating in a research report on Friday, May 29th. Finally, Royal Bank Of Canada cut Rio Tinto from a "sector perform" rating to an "underperform" rating in a research report on Wednesday, June 3rd. Two equities research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, eight have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, Rio Tinto presently has an average rating of "Hold" and a consensus price target of $103.12.

Rio Tinto Company Profile

Rio Tinto plc is a global mining and metals company with operations and projects spanning approximately 35 countries. Founded in 1873, the company operates through a dual-listed structure in the United Kingdom and Australia, with its American depositary receipts traded on the New York Stock Exchange under the symbol RIO.

The company explores, develops and produces a range of mineral resources. Its principal products include iron ore, aluminum, copper, lithium, borates, titanium dioxide feedstocks and diamonds.

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