Central Valley Advisors LLC Purchases Shares of 26,233 Rio Tinto PLC $RIO

Key Points

• Central Valley Advisors LLC acquired 26,233 shares of Rio Tinto PLC, valued at approximately $1,530,000, according to its recent 13F filing with the SEC.
• The firm's stock has experienced a 12-month price range of $51.67 to $72.08, and currently trades at $63.44.
• Rio Tinto announced a dividend of $1.48 per share, to be paid on September 25th, reflecting a high dividend yield of 620.0%.

Central Valley Advisors LLC purchased a new stake in shares of Rio Tinto PLC (NYSE:RIO - Free Report) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 26,233 shares of the mining company's stock, valued at approximately $1,530,000.

Other hedge funds also recently bought and sold shares of the company. Alpine Bank Wealth Management bought a new stake in Rio Tinto during the first quarter valued at about $30,000. Wayfinding Financial LLC acquired a new stake in Rio Tinto during the first quarter worth about $30,000. Pandora Wealth Inc. acquired a new stake in Rio Tinto during the first quarter worth about $30,000. Bfsg LLC grew its position in Rio Tinto by 5,754.5% during the first quarter. Bfsg LLC now owns 644 shares of the mining company's stock worth $39,000 after buying an additional 633 shares in the last quarter. Finally, Ameriflex Group Inc. acquired a new stake in Rio Tinto during the fourth quarter worth about $47,000. 19.33% of the stock is currently owned by institutional investors.

Rio Tinto Price Performance

Shares of RIO stock opened at $63.44 on Wednesday. Rio Tinto PLC has a 12-month low of $51.67 and a 12-month high of $72.08. The firm has a market capitalization of $79.56 billion, a price-to-earnings ratio of 9.84 and a beta of 0.66. The company has a quick ratio of 1.03, a current ratio of 1.53 and a debt-to-equity ratio of 0.37. The firm has a fifty day moving average of $61.71 and a 200-day moving average of $60.37.

Rio Tinto Cuts Dividend

The firm also recently disclosed a semi-annual dividend, which will be paid on Thursday, September 25th. Stockholders of record on Friday, August 15th will be paid a dividend of $1.48 per share. This represents a dividend yield of 620.0%. The ex-dividend date is Friday, August 15th. Rio Tinto's dividend payout ratio is currently 45.74%.

Analysts Set New Price Targets

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

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.

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