Jump Financial LLC Invests $1.12 Million in Rio Tinto PLC $RIO

Key Points

• Jump Financial LLC has acquired a new stake in Rio Tinto PLC, purchasing 18,601 shares valued at approximately $1,118,000, as reported in their latest SEC filing.
• Rio Tinto's stock opened at $62.70 and has a market capitalization of $78.63 billion, showing a P/E ratio of 9.72 and a beta of 0.64.
• The company announced a semi-annual dividend of $1.48 per share, with a dividend payout ratio of 45.74%, to be distributed on September 25th to stockholders on record by August 15th.

Jump Financial LLC acquired a new stake in shares of Rio Tinto PLC (NYSE:RIO - Free Report) in the first quarter, according to its most recent disclosure with the SEC. The firm acquired 18,601 shares of the mining company's stock, valued at approximately $1,118,000.

Other institutional investors have also added to or reduced their stakes in the company. Wayfinding Financial LLC purchased a new stake in Rio Tinto during the 1st quarter valued at approximately $30,000. Pandora Wealth Inc. purchased a new stake in Rio Tinto during the 1st quarter valued at approximately $30,000. Alpine Bank Wealth Management purchased a new position in shares of Rio Tinto in the first quarter valued at $30,000. Bfsg LLC grew its holdings 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 valued at $39,000 after purchasing an additional 633 shares in the last quarter. Finally, Ameriflex Group Inc. purchased a new position in shares of Rio Tinto in the fourth quarter valued at $47,000. 19.33% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on RIO. Deutsche Bank Aktiengesellschaft lowered shares of Rio Tinto from a "buy" rating to a "hold" rating in a report on Wednesday, July 30th. Jefferies Financial Group reissued a "hold" rating on shares of Rio Tinto in a report on Tuesday, June 3rd. Berenberg Bank reissued a "hold" rating on shares of Rio Tinto in a report on Thursday, July 3rd. Morgan Stanley reissued an "overweight" rating on shares of Rio Tinto in a report on Monday, July 14th. Finally, Barclays reissued an "overweight" rating on shares of Rio Tinto in a report on Wednesday, July 2nd. Two investment analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, Rio Tinto currently has an average rating of "Moderate Buy" and an average price target of $73.00.

Rio Tinto Trading Up 0.7%

RIO traded up $0.41 during trading on Wednesday, reaching $62.30. The company had a trading volume of 1,484,337 shares, compared to its average volume of 3,294,941. The stock has a market cap of $78.14 billion, a P/E ratio of 9.67 and a beta of 0.66. The business has a 50 day simple moving average of $60.84 and a 200-day simple moving average of $60.35. Rio Tinto PLC has a 52 week low of $51.67 and a 52 week high of $72.08. The company has a quick ratio of 1.03, a current ratio of 1.53 and a debt-to-equity ratio of 0.37.

Rio Tinto Cuts Dividend

The firm also recently announced 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. This represents a dividend yield of 620.0%. The ex-dividend date is Friday, August 15th. Rio Tinto's dividend payout ratio (DPR) 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.