Eagle Global Advisors LLC Sells 7,000 Shares of Rio Tinto PLC $RIO

Eagle Global Advisors LLC trimmed its holdings in Rio Tinto PLC (NYSE:RIO - Free Report) by 25.2% in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 20,800 shares of the mining company's stock after selling 7,000 shares during the quarter. Eagle Global Advisors LLC's holdings in Rio Tinto were worth $1,213,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of RIO. Alpine Bank Wealth Management bought a new stake in Rio Tinto in the 1st quarter worth about $30,000. Wayfinding Financial LLC purchased a new position in Rio Tinto in the first quarter worth about $30,000. Pandora Wealth Inc. purchased a new position in Rio Tinto in the first quarter worth about $30,000. Bfsg LLC boosted its position in Rio Tinto by 5,754.5% in the first quarter. Bfsg LLC now owns 644 shares of the mining company's stock worth $39,000 after purchasing an additional 633 shares during the last quarter. Finally, Resources Management Corp CT ADV purchased a new position in Rio Tinto in the first quarter worth about $48,000. 19.33% of the stock is currently owned by institutional investors.

Rio Tinto Stock Down 0.9%

NYSE RIO opened at $64.81 on Friday. The stock's 50 day moving average is $62.31 and its 200 day moving average is $60.45. The company has a current ratio of 1.53, a quick ratio of 1.03 and a debt-to-equity ratio of 0.37. Rio Tinto PLC has a 12 month low of $51.67 and a 12 month high of $72.08. The stock has a market cap of $81.28 billion, a PE ratio of 10.05 and a beta of 0.66.

Rio Tinto Cuts Dividend

The firm also recently declared a semi-annual dividend, which was paid on Thursday, September 25th. Investors of record on Friday, August 15th were issued a $1.48 dividend. The ex-dividend date of this dividend was Friday, August 15th. This represents a yield of 620.0%. Rio Tinto's payout ratio is currently 45.74%.

Analyst Ratings Changes

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