HighTower Advisors LLC Has $6.81 Million Stock Holdings in Rio Tinto PLC $RIO

Key Points

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HighTower Advisors LLC lessened its stake in shares of Rio Tinto PLC (NYSE:RIO - Free Report) by 16.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 113,335 shares of the mining company's stock after selling 23,095 shares during the period. HighTower Advisors LLC's holdings in Rio Tinto were worth $6,809,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Wayfinding Financial LLC acquired a new position in Rio Tinto during the first quarter valued at approximately $30,000. Pandora Wealth Inc. acquired a new stake in shares of Rio Tinto in the first quarter worth $30,000. Alpine Bank Wealth Management acquired a new stake in shares of Rio Tinto in the first quarter worth $30,000. Bfsg LLC grew its stake in shares of 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 acquiring an additional 633 shares during the last quarter. Finally, Ameriflex Group Inc. acquired a new stake in shares of Rio Tinto in the fourth quarter worth $47,000. Institutional investors and hedge funds own 19.33% of the company's stock.

Rio Tinto Stock Down 1.5%

RIO opened at $60.35 on Tuesday. 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 current ratio of 1.53 and a quick ratio of 1.03. The firm's fifty day moving average price is $59.89 and its two-hundred day moving average price is $60.34. The company has a market capitalization of $75.69 billion, a P/E ratio of 9.36 and a beta of 0.64.

Rio Tinto Cuts Dividend

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

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on RIO shares. Wall Street Zen downgraded shares of Rio Tinto from a "strong-buy" rating to a "buy" rating in a research note on Monday, April 28th. Jefferies Financial Group restated a "hold" rating on shares of Rio Tinto in a research note on Tuesday, June 3rd. Morgan Stanley restated an "overweight" rating on shares of Rio Tinto in a research note on Monday, July 14th. Berenberg Bank restated a "hold" rating on shares of Rio Tinto in a research note on Thursday, July 3rd. Finally, Deutsche Bank Aktiengesellschaft downgraded shares of Rio Tinto from a "buy" rating to a "hold" rating in a research note on Wednesday, July 30th. Four investment analysts have rated the stock with a hold rating, four have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $73.00.

Rio Tinto Company 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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