Bank of Nova Scotia Sells 15,293 Shares of Rio Tinto PLC $RIO

Key Points

• Bank of Nova Scotia cut its Rio Tinto stake by 68% in the first quarter, selling 15,293 shares and retaining 7,197 shares valued at approximately $671,000.
• Rio Tinto reported strong first-half 2026 results, including $6.7 billion in net income, a 47% year-over-year increase, and a 75% rise in free cash flow to $3.8 billion.
• The company declared a $2.11-per-share interim dividend, while analyst opinions remained mixed: Goldman Sachs upgraded the stock to “buy,” but Bank of America and Morgan Stanley downgraded it. The overall consensus rating is “Hold”, with a $105.50 price target.

Bank of Nova Scotia lessened its stake in Rio Tinto PLC (NYSE:RIO - Free Report) by 68.0% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 7,197 shares of the mining company's stock after selling 15,293 shares during the quarter. Bank of Nova Scotia's holdings in Rio Tinto were worth $671,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. AdvisorNet Financial Inc boosted its position in Rio Tinto by 160.2% in the first quarter. AdvisorNet Financial Inc now owns 294 shares of the mining company's stock valued at $27,000 after buying an additional 181 shares in the last quarter. PFS Partners LLC bought a new stake in shares of Rio Tinto during the fourth quarter worth $28,000. Nvest Wealth Strategies Inc. acquired a new position in shares of Rio Tinto during the fourth quarter worth $28,000. V Square Quantitative Management LLC acquired a new position in shares of Rio Tinto during the first quarter worth $35,000. Finally, Costello Asset Management INC bought a new position in shares of Rio Tinto in the 1st quarter valued at $37,000. Institutional investors own 19.33% of the company's stock.

More Rio Tinto News

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

• Positive Sentiment: Strong first-half results: Rio Tinto reported approximately $31.0 billion in sales and $6.7 billion in net income for the first half of 2026, with profit reportedly rising 47% year over year. Underlying earnings increased 43%, while free cash flow surged 75% to $3.8 billion. Higher commodity prices and production supported the results. Mining major Rio Tinto logs 43% rise in interim profit
• Positive Sentiment: Higher shareholder returns: Rio Tinto declared an interim dividend of $2.11 per share, representing a 43% increase, supported by stronger earnings and cash flow. The payout reinforces the stock’s income appeal. Rio Tinto shares surge as copper growth drives profit and dividend beat
• Positive Sentiment: Analyst sentiment improved: Goldman Sachs upgraded Rio Tinto to “buy,” followed by Berenberg’s upgrade from “hold” to “buy.” Analysts appear encouraged by the company’s simplification strategy, cash generation and exposure to growth markets. Berenberg upgrades Rio Tinto
• Positive Sentiment: Exposure to AI-related metals: Copper EBITDA rose 84% and aluminum EBITDA 38%, with the two businesses contributing 57% of total EBITDA. Demand from data centers and broader AI infrastructure is viewed as a long-term growth catalyst. Rio Tinto: Excellent Q2 Results
• Neutral Sentiment: Valuation remains a focus: Rio Tinto’s strong year-to-date and one-year performance has attracted fresh valuation analysis. Supporters argue the shares remain inexpensive relative to diversified mining peers, but some of the improved outlook may already be reflected in the stock.
• Negative Sentiment: Estimates were trimmed: Erste Group lowered its FY2026 EPS forecast to $8.34 from $8.45 and its FY2027 forecast to $8.27 from $8.37. The cuts are modest but highlight continued sensitivity to commodity prices, operating execution and production risks.

Rio Tinto Stock Performance

RIO opened at $97.13 on Friday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.98 and a current ratio of 1.44. The company's fifty day moving average price is $97.69 and its two-hundred day moving average price is $96.13. Rio Tinto PLC has a 1-year low of $58.40 and a 1-year high of $112.58.

Rio Tinto Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on RIO. Bank of America lowered Rio Tinto from a "buy" rating to a "neutral" rating in a research report on Friday, May 22nd. Weiss Ratings reiterated a "buy (b-)" rating on shares of Rio Tinto in a research report on Wednesday, May 20th. Morgan Stanley lowered Rio Tinto from an "equal weight" rating to an "underweight" rating in a research note on Wednesday, July 8th. Sanford C. Bernstein upped their price objective on Rio Tinto from $82.00 to $83.50 and gave the company an "outperform" rating in a research note on Monday, April 27th. Finally, The Goldman Sachs Group upgraded shares of Rio Tinto from a "neutral" rating to a "buy" rating in a research report on Wednesday. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, seven have assigned a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $105.50.

Rio Tinto Company Profile

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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