Eschler Asset Management LLP Sells 26,200 Shares of Rio Tinto PLC $RIO

Key Points

• Eschler Asset Management LLP reduced its stake in Rio Tinto PLC by 27.4%, holding 69,275 shares valued at approximately $4.23 million, making it the firm's largest holding.
• Several institutional investors have increased their positions in Rio Tinto, with notable rises from companies like Farther Finance Advisors LLC and Bessemer Group Inc.
• Rio Tinto's stock has a consensus rating of "Moderate Buy" with an average price target of $73.00, despite mixed ratings from various analysts following recent performance evaluations.

Eschler Asset Management LLP cut its stake in shares of Rio Tinto PLC (NYSE:RIO - Free Report) by 27.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 69,275 shares of the mining company's stock after selling 26,200 shares during the quarter. Rio Tinto makes up about 10.7% of Eschler Asset Management LLP's portfolio, making the stock its largest position. Eschler Asset Management LLP's holdings in Rio Tinto were worth $4,228,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of RIO. Auto Owners Insurance Co raised its holdings in shares of Rio Tinto by 77,150.0% in the first quarter. Auto Owners Insurance Co now owns 7,416,000 shares of the mining company's stock valued at $445,553,000 after purchasing an additional 7,406,400 shares during the last quarter. Deutsche Bank AG lifted its position in Rio Tinto by 143,872.8% during the fourth quarter. Deutsche Bank AG now owns 1,264,081 shares of the mining company's stock valued at $74,341,000 after purchasing an additional 1,263,203 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Rio Tinto by 33.9% during the first quarter. Dimensional Fund Advisors LP now owns 1,938,247 shares of the mining company's stock worth $116,510,000 after acquiring an additional 490,357 shares in the last quarter. Ameriprise Financial Inc. increased its stake in shares of Rio Tinto by 169.4% in 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. Finally, Goldman Sachs Group Inc. boosted its holdings in Rio Tinto by 4.1% in the first quarter. Goldman Sachs Group Inc. now owns 8,368,620 shares of the mining company's stock valued at $502,787,000 after acquiring an additional 326,661 shares in the last quarter. 19.33% of the stock is owned by institutional investors.

Analysts Set New Price Targets

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

Rio Tinto Trading Down 2.4%

NYSE RIO traded down $1.55 on Tuesday, reaching $62.18. 3,338,185 shares of the company were exchanged, compared to its average volume of 3,279,325. The business's fifty day moving average price is $61.25 and its 200 day moving average price is $60.32. Rio Tinto PLC has a fifty-two week low of $51.67 and a fifty-two week high of $72.08. 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 market capitalization of $77.98 billion, a P/E ratio of 9.64 and a beta of 0.66.

Rio Tinto Cuts Dividend

The company also recently disclosed a semi-annual dividend, which will be paid on Thursday, September 25th. Investors of record on Friday, August 15th will be paid a $1.48 dividend. 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 presently 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.