DRW Securities LLC Grows Position in Rio Tinto PLC $RIO

Key Points

• DRW Securities LLC increased its stake in Rio Tinto PLC by 222.7% in Q1, holding $1.57 million worth of shares after purchasing an additional 18,064 shares.
• Several institutional investors significantly boosted their positions in Rio Tinto, including Auto Owners Insurance Co, which raised its stake by an astounding 77,150.0%.
• The stock currently holds a consensus rating of "Moderate Buy" with an average target price set at $73.00, amidst various ratings including two “Strong Buy” and three “Buy” recommendations.

DRW Securities LLC boosted its position in shares of Rio Tinto PLC (NYSE:RIO - Free Report) by 222.7% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 26,177 shares of the mining company's stock after purchasing an additional 18,064 shares during the quarter. DRW Securities LLC's holdings in Rio Tinto were worth $1,573,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Marshall Wace LLP purchased a new position in Rio Tinto during the 4th quarter valued at about $419,000. Northern Trust Corp increased its holdings in Rio Tinto by 18.9% during the fourth quarter. Northern Trust Corp now owns 1,603,037 shares of the mining company's stock valued at $94,275,000 after buying an additional 255,151 shares during the period. Keel Point LLC raised its stake in Rio Tinto by 9.7% in the fourth quarter. Keel Point LLC now owns 3,876 shares of the mining company's stock worth $228,000 after buying an additional 342 shares in the last quarter. American Trust Investment Advisors LLC raised its stake in Rio Tinto by 34.9% in the fourth quarter. American Trust Investment Advisors LLC now owns 10,680 shares of the mining company's stock worth $628,000 after buying an additional 2,765 shares in the last quarter. Finally, Ameriprise Financial Inc. lifted its holdings in Rio Tinto by 169.4% during the fourth quarter. Ameriprise Financial Inc. now owns 619,494 shares of the mining company's stock worth $36,428,000 after buying an additional 389,531 shares during the period. Institutional investors own 19.33% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on RIO shares. Deutsche Bank Aktiengesellschaft lowered Rio Tinto from a "buy" rating to a "hold" rating in a report on Wednesday, July 30th. Jefferies Financial Group restated a "hold" rating on shares of Rio Tinto in a report on Tuesday, June 3rd. Morgan Stanley restated an "overweight" rating on shares of Rio Tinto in a report on Monday, July 14th. Barclays reiterated an "overweight" rating on shares of Rio Tinto in a research note on Wednesday, July 2nd. Finally, Berenberg Bank restated a "hold" rating on shares of Rio Tinto in a research note on Thursday, July 3rd. Two 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's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $73.00.

Rio Tinto Stock Performance

Shares of RIO stock traded up $0.59 during trading hours on Wednesday, hitting $62.48. The company's stock had a trading volume of 2,104,213 shares, compared to its average volume of 2,589,932. Rio Tinto PLC has a 12-month low of $51.67 and a 12-month high of $72.08. The company has a 50 day moving average of $60.84 and a 200 day moving average of $60.35. The company has a quick ratio of 1.03, a current ratio of 1.53 and a debt-to-equity ratio of 0.37.

Rio Tinto Cuts Dividend

The business also recently declared 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. This represents a yield of 620.0%. The ex-dividend date of this dividend is Friday, August 15th. Rio Tinto's dividend payout ratio (DPR) 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.