Goldman Sachs Group Inc. Grows Position in Rio Tinto PLC (NYSE:RIO)

Goldman Sachs Group Inc. grew its holdings in shares of Rio Tinto PLC (NYSE:RIO - Free Report) by 4.1% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,368,620 shares of the mining company's stock after purchasing an additional 326,661 shares during the quarter. Goldman Sachs Group Inc. owned about 0.67% of Rio Tinto worth $502,787,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. XTX Topco Ltd purchased a new stake in shares of Rio Tinto during the fourth quarter worth $1,241,000. Rossby Financial LCC bought a new stake in shares of Rio Tinto during the 4th quarter valued at $360,000. Farther Finance Advisors LLC lifted its holdings in Rio Tinto by 24.2% during the 1st quarter. Farther Finance Advisors LLC now owns 4,023 shares of the mining company's stock worth $242,000 after purchasing an additional 785 shares in the last quarter. Norges Bank bought a new position in Rio Tinto in the 4th quarter worth about $432,000. Finally, Merit Financial Group LLC purchased a new position in Rio Tinto during the 1st quarter valued at about $251,000. Hedge funds and other institutional investors own 19.33% of the company's stock.

Analyst Upgrades and Downgrades

RIO has been the topic of a number of recent analyst reports. Berenberg Bank reissued a "hold" rating on shares of Rio Tinto in a report on Thursday, July 3rd. Wall Street Zen lowered shares of Rio Tinto from a "strong-buy" rating to a "buy" rating in a report on Monday, April 28th. Deutsche Bank Aktiengesellschaft cut shares of Rio Tinto from a "buy" rating to a "hold" rating in a research note on Wednesday, July 30th. Barclays restated an "overweight" rating on shares of Rio Tinto in a research report on Wednesday, July 2nd. Finally, Jefferies Financial Group reaffirmed a "hold" rating on shares of Rio Tinto in a report on Tuesday, June 3rd. Four investment analysts have rated the stock with a hold rating, four have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $73.00.

Rio Tinto Stock Performance

Rio Tinto stock opened at $60.79 on Friday. 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 debt-to-equity ratio of 0.37, a quick ratio of 1.03 and a current ratio of 1.53. The stock has a market cap of $76.23 billion, a P/E ratio of 9.42 and a beta of 0.64. The firm's fifty day moving average price is $59.48 and its 200-day moving average price is $60.29.

Rio Tinto Cuts Dividend

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

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