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Gateway Investment Advisers LLC Has $262,000 Stake in Rio Tinto PLC $RIO

Rio Tinto logo with Basic Materials background

Key Points

  • Gateway Investment Advisers LLC significantly reduced its stake in Rio Tinto PLC by 78.5%, selling 16,391 shares during the second quarter, now holding just 4,486 shares worth approximately $262,000.
  • Despite this reduction, other institutional investors, such as Goldman Sachs and Auto Owners Insurance Co, increased their stakes in Rio Tinto, with Auto Owners growing its position by 77,150.0%.
  • Rio Tinto recently announced a semi-annual dividend of $1.48, with a payout ratio of 45.74%, to be paid on September 25th to stockholders of record.
  • Five stocks to consider instead of Rio Tinto.

Gateway Investment Advisers LLC cut its holdings in shares of Rio Tinto PLC (NYSE:RIO - Free Report) by 78.5% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,486 shares of the mining company's stock after selling 16,391 shares during the quarter. Gateway Investment Advisers LLC's holdings in Rio Tinto were worth $262,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in RIO. Alpine Bank Wealth Management bought a new position in Rio Tinto during the 1st quarter worth $30,000. Wayfinding Financial LLC bought a new position in shares of Rio Tinto in the first quarter worth $30,000. Pandora Wealth Inc. acquired a new position in Rio Tinto in the first quarter valued at about $30,000. Bfsg LLC lifted 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 purchasing an additional 633 shares during the period. Finally, Ameriflex Group Inc. bought 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 and hedge funds.

Rio Tinto Price Performance

RIO traded up $1.28 on Monday, reaching $63.66. The stock had a trading volume of 3,525,223 shares, compared to its average volume of 2,622,364. 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 company has a market capitalization of $79.83 billion, a price-to-earnings ratio of 9.87 and a beta of 0.66. Rio Tinto PLC has a fifty-two week low of $51.67 and a fifty-two week high of $72.08. The firm has a 50-day moving average of $61.94 and a 200-day moving average of $60.36.

Rio Tinto Cuts Dividend

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

Analysts Set New Price Targets

RIO has been the topic of several recent analyst reports. Berenberg Bank reissued a "hold" rating on shares of Rio Tinto in a report on Thursday, July 3rd. Deutsche Bank Aktiengesellschaft cut shares of Rio Tinto from a "buy" rating to a "hold" rating in a research note on Wednesday, July 30th. Morgan Stanley restated an "overweight" rating on shares of Rio Tinto in a research note on Monday, July 14th. Barclays reaffirmed an "overweight" rating on shares of Rio Tinto in a report on Wednesday, July 2nd. Finally, Jefferies Financial Group reissued a "hold" rating on shares of Rio Tinto in a report on Tuesday, June 3rd. Two research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, Rio Tinto presently has an average rating of "Moderate Buy" and a consensus price target of $73.00.

Check Out Our Latest Report on Rio Tinto

Rio Tinto Profile

(Free Report)

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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Institutional Ownership by Quarter for Rio Tinto (NYSE:RIO)

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