Journey Advisory Group LLC trimmed its stake in shares of Rio Tinto PLC (NYSE:RIO - Free Report) by 2.1% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 2,506,793 shares of the mining company's stock after selling 53,447 shares during the quarter. Rio Tinto accounts for about 11.4% of Journey Advisory Group LLC's holdings, making the stock its largest position. Journey Advisory Group LLC owned about 0.20% of Rio Tinto worth $146,221,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Wayfinding Financial LLC bought a new stake in shares of Rio Tinto during the 1st quarter valued at $30,000. Pandora Wealth Inc. bought a new position in Rio Tinto in the 1st quarter worth about $30,000. Alpine Bank Wealth Management bought a new position in Rio Tinto in the 1st quarter worth about $30,000. Hilltop National Bank bought a new position in Rio Tinto in the 2nd quarter worth about $44,000. Finally, Resources Management Corp CT ADV bought a new position in Rio Tinto in the 1st quarter worth about $48,000. 19.33% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
A number of equities analysts have weighed in on RIO shares. Berenberg Bank restated a "hold" rating on shares of Rio Tinto in a research note on Thursday, July 3rd. Weiss Ratings restated a "hold (c)" rating on shares of Rio Tinto in a research note on Wednesday, October 8th. Morgan Stanley restated an "overweight" rating on shares of Rio Tinto in a research note on Wednesday, October 8th. Zacks Research upgraded Rio Tinto from a "hold" rating to a "strong-buy" rating in a report on Monday, October 6th. Finally, Deutsche Bank Aktiengesellschaft cut Rio Tinto from a "buy" rating to a "hold" rating in a report on Wednesday, July 30th. Three analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $73.00.
Check Out Our Latest Research Report on RIO
Rio Tinto Price Performance
RIO opened at $68.12 on Monday. The stock has a 50-day moving average price of $63.95 and a 200-day moving average price of $60.97. Rio Tinto PLC has a 12-month low of $51.67 and a 12-month high of $69.30. 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 stock has a market capitalization of $85.43 billion, a P/E ratio of 10.56, a PEG ratio of 5.44 and a beta of 0.66.
Rio Tinto Cuts Dividend
The business also recently announced a semi-annual dividend, which was paid on Thursday, September 25th. Investors of record on Friday, August 15th were issued a dividend of $1.48 per share. The ex-dividend date was Friday, August 15th. This represents a yield of 620.0%. Rio Tinto's dividend payout ratio is currently 45.74%.
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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