Curi RMB Capital LLC Acquires New Stake in Rio Tinto PLC $RIO

Key Points

• Curi RMB Capital LLC has acquired a new position in Rio Tinto PLC, purchasing 21,236 shares valued at approximately $1.28 million during the first quarter.
• Several large investors have also increased their stakes in Rio Tinto, with hedge funds and institutional investors owning 19.33% of the stock.
• Analyst ratings for Rio Tinto show a consensus of a "Moderate Buy" with an average price target of $73.00, despite recent downgrades from some analysts.

Curi RMB Capital LLC acquired a new stake in shares of Rio Tinto PLC (NYSE:RIO - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 21,236 shares of the mining company's stock, valued at approximately $1,276,000.

Several other institutional investors also recently modified their holdings of RIO. Aspen Wealth Strategies LLC raised its stake in shares of Rio Tinto by 3.7% in the first quarter. Aspen Wealth Strategies LLC now owns 4,810 shares of the mining company's stock worth $289,000 after buying an additional 172 shares during the period. Hamilton Point Investment Advisors LLC raised its stake in shares of Rio Tinto by 0.4% in the first quarter. Hamilton Point Investment Advisors LLC now owns 44,385 shares of the mining company's stock worth $2,767,000 after buying an additional 194 shares during the period. Walker Asset Management LLC raised its stake in Rio Tinto by 4.8% during the 1st quarter. Walker Asset Management LLC now owns 4,326 shares of the mining company's stock valued at $260,000 after purchasing an additional 200 shares during the period. Quintet Private Bank Europe S.A. raised its stake in Rio Tinto by 10.0% during the 1st quarter. Quintet Private Bank Europe S.A. now owns 2,200 shares of the mining company's stock valued at $132,000 after purchasing an additional 200 shares during the period. Finally, Gallacher Capital Management LLC raised its stake in Rio Tinto by 3.6% during the 1st quarter. Gallacher Capital Management LLC now owns 5,740 shares of the mining company's stock valued at $345,000 after purchasing an additional 201 shares during the period. 19.33% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on RIO shares. 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. Berenberg Bank reissued a "hold" rating on shares of Rio Tinto in a research note on Thursday, July 3rd. Deutsche Bank Aktiengesellschaft downgraded Rio Tinto from a "buy" rating to a "hold" rating in a research note on Wednesday, July 30th. Finally, Morgan Stanley reaffirmed an "overweight" rating on shares of Rio Tinto in a research note 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 issued a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $73.00.

Rio Tinto Trading Down 0.4%

Shares of Rio Tinto stock traded down $0.23 on Monday, reaching $63.74. The company had a trading volume of 1,914,702 shares, compared to its average volume of 2,357,675. The firm has a market cap of $79.94 billion, a price-to-earnings ratio of 9.88 and a beta of 0.66. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.53 and a quick ratio of 1.03. The firm's 50-day moving average price is $61.25 and its two-hundred day moving average price is $60.32. Rio Tinto PLC has a 1 year low of $51.67 and a 1 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. Stockholders of record on Friday, August 15th will be issued a $1.48 dividend. The ex-dividend date is Friday, August 15th. This represents a dividend yield of 620.0%. Rio Tinto's payout ratio is 45.74%.

Rio Tinto 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.