Campbell & CO Investment Adviser LLC Raises Stock Position in 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 increased its position in shares of Rio Tinto PLC (NYSE:RIO - Free Report) by 2,600.2% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 100,905 shares of the mining company's stock after buying an additional 97,168 shares during the quarter. Rio Tinto comprises about 0.5% of Campbell & CO Investment Adviser LLC's portfolio, making the stock its 19th biggest position. Campbell & CO Investment Adviser LLC's holdings in Rio Tinto were worth $6,062,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Marshall Wace LLP bought a new position in shares of Rio Tinto in the fourth quarter valued at $419,000. MML Investors Services LLC lifted its position in Rio Tinto by 3.2% in the 4th quarter. MML Investors Services LLC now owns 41,563 shares of the mining company's stock valued at $2,444,000 after acquiring an additional 1,308 shares in the last quarter. Stifel Financial Corp lifted its position in Rio Tinto by 3.6% in the 4th quarter. Stifel Financial Corp now owns 330,379 shares of the mining company's stock valued at $19,430,000 after acquiring an additional 11,567 shares in the last quarter. Capital Analysts LLC boosted its stake in Rio Tinto by 6.0% during the 4th quarter. Capital Analysts LLC now owns 2,886 shares of the mining company's stock valued at $170,000 after purchasing an additional 163 shares during the last quarter. Finally, Coldstream Capital Management Inc. increased its holdings in Rio Tinto by 7.6% during the 4th quarter. Coldstream Capital Management Inc. now owns 5,010 shares of the mining company's stock worth $295,000 after purchasing an additional 354 shares in the last quarter. Institutional investors and hedge funds own 19.33% of the company's stock.

Analyst Ratings Changes

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

Rio Tinto Stock Performance

Shares of NYSE RIO traded up $0.80 during midday trading on Thursday, hitting $62.91. The company's stock had a trading volume of 1,965,506 shares, compared to its average volume of 3,321,051. The firm has a market capitalization of $78.89 billion, a price-to-earnings ratio of 9.75 and a beta of 0.64. 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 has a fifty day moving average price of $60.38 and a 200 day moving average price of $60.37. Rio Tinto PLC has a one year low of $51.67 and a one year high of $72.08.

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 given a dividend of $1.48 per share. The ex-dividend date is Friday, August 15th. This represents a dividend yield of 620.0%. Rio Tinto's dividend payout ratio is currently 45.74%.

About Rio Tinto

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.