Campbell & CO Investment Adviser LLC Acquires 97,168 Shares of Rio Tinto PLC $RIO

Key Points

• Campbell & CO Investment Adviser LLC increased its holdings in Rio Tinto PLC by an impressive 2,600.2% during the first quarter, owning 100,905 shares valued at approximately $6.06 million.
• Rio Tinto has reported a semi-annual dividend of $1.48 per share, with a dividend yield of 620.0% and a payout ratio of 45.74%.
• Analysts have mixed views on Rio Tinto, with ratings ranging from Strong Buy to Hold, and a consensus target price set at $73.00.

Campbell & CO Investment Adviser LLC boosted its stake in Rio Tinto PLC (NYSE:RIO - Free Report) by 2,600.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 100,905 shares of the mining company's stock after purchasing an additional 97,168 shares during the period. Rio Tinto comprises 0.5% of Campbell & CO Investment Adviser LLC's investment portfolio, making the stock its 19th largest position. Campbell & CO Investment Adviser LLC's holdings in Rio Tinto were worth $6,062,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of RIO. Auto Owners Insurance Co increased its stake in shares of Rio Tinto by 77,150.0% during the first quarter. Auto Owners Insurance Co now owns 7,416,000 shares of the mining company's stock valued at $445,553,000 after buying an additional 7,406,400 shares during the period. Deutsche Bank AG increased its stake in shares of Rio Tinto by 143,872.8% during the fourth quarter. Deutsche Bank AG now owns 1,264,081 shares of the mining company's stock valued at $74,341,000 after buying an additional 1,263,203 shares during the period. Dynamo Internacional Gestao DE Recursos LTDA. increased its stake in shares of Rio Tinto by 119.2% during the fourth quarter. Dynamo Internacional Gestao DE Recursos LTDA. now owns 129,804 shares of the mining company's stock valued at $2,423,000 after buying an additional 807,610 shares during the period. Paloma Partners Management Co purchased a new position in shares of Rio Tinto during the fourth quarter valued at approximately $40,032,000. Finally, Dimensional Fund Advisors LP increased its stake in shares of Rio Tinto by 33.9% during the first quarter. Dimensional Fund Advisors LP now owns 1,938,247 shares of the mining company's stock valued at $116,510,000 after buying an additional 490,357 shares during the period. 19.33% of the stock is owned by hedge funds and other institutional investors.

Rio Tinto Stock Up 0.1%

Rio Tinto stock traded up $0.05 during mid-day trading on Friday, hitting $62.93. The company had a trading volume of 968,769 shares, compared to its average volume of 3,306,515. The company has a current ratio of 1.53, a quick ratio of 1.03 and a debt-to-equity ratio of 0.37. The stock's 50 day moving average price is $60.50 and its two-hundred day moving average price is $60.37. Rio Tinto PLC has a 12 month low of $51.67 and a 12 month high of $72.08. The company has a market capitalization of $78.93 billion, a PE ratio of 9.76 and a beta of 0.64.

Rio Tinto Cuts Dividend

The business also recently announced a semi-annual dividend, which will be paid on Thursday, September 25th. Shareholders of record on Friday, August 15th will be issued a $1.48 dividend. This represents a yield of 620.0%. The ex-dividend date of this dividend is Friday, August 15th. Rio Tinto's payout ratio is 45.74%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Barclays reissued an "overweight" rating on shares of Rio Tinto in a research note on Wednesday, July 2nd. Jefferies Financial Group reissued a "hold" rating on shares of Rio Tinto in a research note on Tuesday, June 3rd. Deutsche Bank Aktiengesellschaft cut Rio Tinto from a "buy" rating to a "hold" rating in a research note on Wednesday, July 30th. Berenberg Bank restated a "hold" rating on shares of Rio Tinto in a research report on Thursday, July 3rd. Finally, Morgan Stanley restated an "overweight" rating on shares of Rio Tinto in a research report on Monday, July 14th. Two equities research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $73.00.

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.