Bank of America Corp DE Has $338.02 Million Position in Rio Tinto PLC $RIO

Key Points

• Bank of America increased its Rio Tinto stake by 6.6% in the first quarter, owning 3.62 million shares valued at approximately $338 million. Institutional investors and hedge funds collectively own 19.33% of the company.
• Rio Tinto shares opened at $96.71, near their 50-day and 200-day moving averages, while the company declared a $2.11-per-share dividend payable September 24 to shareholders of record August 14.
• Analyst sentiment has improved, with Goldman Sachs and Berenberg upgrading the stock to Buy; however, the broader analyst consensus remains Hold, with an average price target of $105.50 and some firms trimming earnings forecasts.

Bank of America Corp DE boosted its holdings in Rio Tinto PLC (NYSE:RIO - Free Report) by 6.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,623,294 shares of the mining company's stock after buying an additional 225,016 shares during the quarter. Bank of America Corp DE owned approximately 0.29% of Rio Tinto worth $338,017,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in RIO. D.A. Davidson & CO. lifted its holdings in Rio Tinto by 16.7% during the 4th quarter. D.A. Davidson & CO. now owns 124,182 shares of the mining company's stock worth $9,938,000 after buying an additional 17,786 shares during the period. Oak Harvest Investment Services bought a new position in shares of Rio Tinto during the fourth quarter worth about $15,210,000. MH & Associates Securities Management Corp ADV bought a new position in shares of Rio Tinto during the fourth quarter worth about $3,687,000. Massachusetts Financial Services Co. MA lifted its stake in shares of Rio Tinto by 35.8% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 347,682 shares of the mining company's stock worth $27,825,000 after acquiring an additional 91,655 shares during the period. Finally, Baker Ellis Asset Management LLC acquired a new position in shares of Rio Tinto in the fourth quarter worth approximately $688,000. 19.33% of the stock is currently owned by institutional investors and hedge funds.

Rio Tinto Trading Down 0.1%

NYSE RIO opened at $96.71 on Monday. Rio Tinto PLC has a 52 week low of $58.40 and a 52 week high of $112.58. The business has a 50 day moving average price of $97.54 and a 200-day moving average price of $96.23. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.93 and a current ratio of 1.42.

Rio Tinto Dividend Announcement

The firm also recently declared a dividend, which will be paid on Thursday, September 24th. Investors of record on Friday, August 14th will be given a $2.11 dividend. The ex-dividend date of this dividend is Friday, August 14th. This represents a yield of 438.0%.

Key Rio Tinto News

Here are the key news stories impacting Rio Tinto this week:

• Positive Sentiment: Berenberg upgraded Rio Tinto to Buy from Hold and raised its price target to $113 from $107, implying additional upside from recent trading levels. Berenberg Upgrades Rio Tinto to Buy From Hold, Raises Price Target to $113 From $107
• Positive Sentiment: Goldman Sachs also upgraded Rio Tinto to Buy, citing progress in the company’s simplification strategy. The second bullish rating from a major bank may improve sentiment toward the shares. The Goldman Sachs Group Upgrades Rio Tinto to Buy
• Positive Sentiment: Rio Tinto reported strong first-half 2026 results, including $31.0 billion in sales and $6.7 billion in net income. Separate analysis highlighted a 75% increase in free cash flow to $3.8 billion, 43% growth in underlying earnings to $6.9 billion and a $3.4 billion dividend payout. Rio Tinto posts highest H1 earnings in four years on higher commodity prices, production
• Positive Sentiment: The company declared a dividend of $2.11 per share, payable September 24 to shareholders of record August 14. The payout supports Rio Tinto’s income appeal, though investors should account for the approaching ex-dividend date.
• Neutral Sentiment: Rio Tinto’s valuation remains a focus after its strong share-price performance. Analysts described the stock as trading at roughly 11 times forward earnings, below the mining-sector average, while noting that its year-to-date and one-year returns have already been substantial. Where Does Rio Tinto Group Valuation Sit After Half Year 2026 Earnings?
• Negative Sentiment: Erste Group trimmed its FY2026 EPS forecast to $8.34 from $8.45 and its FY2027 forecast to $8.27 from $8.37. Although the estimates remain near consensus, the reductions could limit near-term enthusiasm. Erste Group lowers Rio Tinto earnings estimates

Wall Street Analyst Weigh In

RIO has been the subject of a number of recent analyst reports. The Goldman Sachs Group raised shares of Rio Tinto from a "neutral" rating to a "buy" rating in a research report on Wednesday, July 29th. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating on shares of Rio Tinto in a research note on Friday, May 15th. Royal Bank Of Canada cut shares of Rio Tinto from a "sector perform" rating to an "underperform" rating in a research report on Wednesday, June 3rd. Argus set a $120.00 target price on shares of Rio Tinto in a research note on Monday, April 27th. Finally, Berenberg Bank set a $113.00 target price on shares of Rio Tinto in a report on Thursday. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, seven have issued a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average target price of $105.50.

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.

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