Jackson Hole Capital Partners LLC Increases Stock Holdings in Rio Tinto PLC $RIO

Key Points

• Jackson Hole Capital Partners LLC increased its stake in Rio Tinto PLC by 39.3% during the 2nd quarter, now holding 14,170 shares valued at approximately $827,000.
• Several institutional investors, including Amundi and Bessemer Group Inc., have also significantly bolstered their positions in Rio Tinto, indicating strong investor interest.
• Rio Tinto's stock has a consensus rating of "Moderate Buy" with an average target price of $73.00, despite fluctuations in analyst ratings.

Jackson Hole Capital Partners LLC boosted its position in Rio Tinto PLC (NYSE:RIO - Free Report) by 39.3% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 14,170 shares of the mining company's stock after purchasing an additional 4,000 shares during the period. Jackson Hole Capital Partners LLC's holdings in Rio Tinto were worth $827,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Amundi lifted its position in shares of Rio Tinto by 224.0% during the 1st quarter. Amundi now owns 230,891 shares of the mining company's stock valued at $13,491,000 after buying an additional 159,636 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in shares of Rio Tinto during the 1st quarter valued at about $357,000. Acadian Asset Management LLC lifted its position in shares of Rio Tinto by 37.9% during the 1st quarter. Acadian Asset Management LLC now owns 57,595 shares of the mining company's stock valued at $3,458,000 after buying an additional 15,839 shares in the last quarter. Central Valley Advisors LLC purchased a new position in shares of Rio Tinto during the 2nd quarter valued at about $1,530,000. Finally, Bessemer Group Inc. lifted its position in shares of Rio Tinto by 61.8% during the 1st quarter. Bessemer Group Inc. now owns 5,195 shares of the mining company's stock valued at $312,000 after buying an additional 1,985 shares in the last quarter. 19.33% of the stock is owned by hedge funds and other institutional investors.

Rio Tinto Stock Performance

NYSE:RIO opened at $70.65 on Friday. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.53 and a quick ratio of 1.03. Rio Tinto PLC has a 1 year low of $51.67 and a 1 year high of $71.24. The stock's 50 day simple moving average is $64.49 and its two-hundred day simple moving average is $61.30. The company has a market cap of $88.60 billion, a price-to-earnings ratio of 10.95, a PEG ratio of 5.54 and a beta of 0.66.

Rio Tinto Cuts Dividend

The company also recently disclosed a semi-annual dividend, which was paid on Thursday, September 25th. Shareholders of record on Friday, August 15th were paid a $1.48 dividend. The ex-dividend date of this dividend was Friday, August 15th. This represents a yield of 620.0%. Rio Tinto's payout ratio is presently 45.74%.

Wall Street Analyst Weigh In

RIO has been the topic of a number of analyst reports. Deutsche Bank Aktiengesellschaft cut Rio Tinto from a "buy" rating to a "hold" rating in a research report on Wednesday, July 30th. Morgan Stanley reaffirmed an "overweight" rating on shares of Rio Tinto in a research report on Wednesday, October 8th. Zacks Research raised Rio Tinto from a "hold" rating to a "strong-buy" rating in a research report on Monday, October 6th. Berenberg Bank reissued a "hold" rating on shares of Rio Tinto in a research note on Thursday, July 3rd. Finally, Barclays reissued an "overweight" rating on shares of Rio Tinto in a research note on Wednesday, July 2nd. Three investment analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and four have given a Hold rating to the company's stock. According to MarketBeat, Rio Tinto has a consensus rating of "Moderate Buy" and an average target price of $73.00.

About Rio Tinto

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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