Rio Tinto PLC (NYSE:RIO) Shares Purchased by Goldman Sachs Group Inc.

Key Points

• Goldman Sachs Group Inc. increased its stake in Rio Tinto PLC by 4.1%, acquiring an additional 326,661 shares, bringing its total holdings to approximately 8.37 million shares valued at $502.79 million.
• Several large investors have modified their positions in Rio Tinto, with institutional investors now owning about 19.33% of the company's stock as of recent reports.
• Rio Tinto announced a semi-annual dividend of $1.48 per share, payable on September 25th, with a dividend yield of 620.0% and a payout ratio of 45.74%.

Goldman Sachs Group Inc. increased its holdings in Rio Tinto PLC (NYSE:RIO - Free Report) by 4.1% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,368,620 shares of the mining company's stock after purchasing an additional 326,661 shares during the period. Goldman Sachs Group Inc. owned 0.67% of Rio Tinto worth $502,787,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the business. Auto Owners Insurance Co grew its holdings in Rio Tinto by 77,150.0% during the 1st quarter. Auto Owners Insurance Co now owns 7,416,000 shares of the mining company's stock worth $445,553,000 after acquiring an additional 7,406,400 shares in the last quarter. Deutsche Bank AG boosted 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 in the last quarter. Dynamo Internacional Gestao DE Recursos LTDA. boosted its position in Rio Tinto by 119.2% during the fourth quarter. Dynamo Internacional Gestao DE Recursos LTDA. now owns 129,804 shares of the mining company's stock valued at $2,423,000 after purchasing an additional 807,610 shares in the last quarter. Paloma Partners Management Co bought a new stake in Rio Tinto during the fourth quarter valued at about $40,032,000. Finally, Raymond James Financial Inc. bought a new stake in Rio Tinto during the fourth quarter valued at about $29,606,000. 19.33% of the stock is owned by hedge funds and other institutional investors.

Rio Tinto Price Performance

Shares of NYSE:RIO traded up $1.19 during trading on Tuesday, reaching $63.33. The stock had a trading volume of 1,336,165 shares, compared to its average volume of 3,370,527. The business has a fifty day moving average price of $59.58 and a 200-day moving average price of $60.28. The stock has a market cap of $79.41 billion, a PE ratio of 9.81 and a beta of 0.64. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.03 and a current ratio of 1.53. Rio Tinto PLC has a 1-year low of $51.67 and a 1-year high of $72.08.

Rio Tinto Cuts Dividend

The firm also recently announced a semi-annual dividend, which will be paid on Thursday, September 25th. Shareholders of record on Friday, August 15th will be given a $1.48 dividend. The ex-dividend date is Friday, August 15th. This represents a yield of 620.0%. Rio Tinto's payout ratio is currently 69.15%.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on RIO shares. Berenberg Bank restated a "hold" rating on shares of Rio Tinto in a research note on Thursday, July 3rd. Barclays reiterated an "overweight" rating on shares of Rio Tinto in a research report on Wednesday, July 2nd. Deutsche Bank Aktiengesellschaft cut Rio Tinto from a "buy" rating to a "hold" rating in a research report on Wednesday, July 30th. Wall Street Zen cut Rio Tinto from a "strong-buy" rating to a "buy" rating in a research report on Monday, April 28th. Finally, Jefferies Financial Group reiterated a "hold" rating on shares of Rio Tinto in a research report on Tuesday, June 3rd. Four equities research analysts have rated the stock with a hold rating, four have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $73.00.

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.