Liberty Wealth Management LLC purchased a new position in shares of Rio Tinto PLC (NYSE:RIO - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 34,169 shares of the mining company's stock, valued at approximately $2,053,000.
A number of other hedge funds have also recently added to or reduced their stakes in the company. Capital Analysts LLC raised its position in shares of Rio Tinto by 6.0% in the fourth quarter. Capital Analysts LLC now owns 2,886 shares of the mining company's stock valued at $170,000 after buying an additional 163 shares during the last quarter. Aspen Wealth Strategies LLC raised its position in shares of Rio Tinto by 3.7% in the first quarter. Aspen Wealth Strategies LLC now owns 4,810 shares of the mining company's stock valued at $289,000 after buying an additional 172 shares during the last quarter. Hamilton Point Investment Advisors LLC raised its position in shares of Rio Tinto by 0.4% in the first quarter. Hamilton Point Investment Advisors LLC now owns 44,385 shares of the mining company's stock valued at $2,767,000 after buying an additional 194 shares during the last quarter. Walker Asset Management LLC increased its position in Rio Tinto by 4.8% during the first quarter. Walker Asset Management LLC now owns 4,326 shares of the mining company's stock worth $260,000 after purchasing an additional 200 shares during the last quarter. Finally, Quintet Private Bank Europe S.A. increased its position in Rio Tinto by 10.0% during the first quarter. Quintet Private Bank Europe S.A. now owns 2,200 shares of the mining company's stock worth $132,000 after purchasing an additional 200 shares during the last quarter. 19.33% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
Several equities research analysts recently issued reports on the stock. Wall Street Zen cut shares of Rio Tinto from a "strong-buy" rating to a "buy" rating in a research report on Monday, April 28th. Berenberg Bank restated a "hold" rating on shares of Rio Tinto in a research report on Thursday, July 3rd. Jefferies Financial Group restated a "hold" rating on shares of Rio Tinto in a research report on Tuesday, June 3rd. Barclays restated an "overweight" rating on shares of Rio Tinto in a research report on Wednesday, July 2nd. Finally, Morgan Stanley reaffirmed an "overweight" rating on shares of Rio Tinto in a research note on Monday, July 14th. Four investment analysts have rated the stock with a hold rating, four have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, Rio Tinto has a consensus rating of "Moderate Buy" and an average price target of $73.00.
Get Our Latest Stock Report on Rio Tinto
Rio Tinto Price Performance
RIO stock traded down $0.34 during trading on Tuesday, hitting $59.66. The stock had a trading volume of 3,616,985 shares, compared to its average volume of 3,872,221. The company's 50 day moving average price is $59.48 and its two-hundred day moving average price is $60.30. Rio Tinto PLC has a 1-year low of $51.67 and a 1-year high of $72.08. The stock has a market cap of $74.82 billion, a price-to-earnings ratio of 9.25 and a beta of 0.64. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.03 and a current ratio of 1.53.
Rio Tinto Cuts Dividend
The company also recently disclosed a semi-annual dividend, which will be paid on Thursday, September 25th. Shareholders of record on Friday, August 15th will be given a $1.48 dividend. The ex-dividend date of this dividend is Friday, August 15th. This represents a yield of 620.0%. Rio Tinto's dividend payout ratio (DPR) is 69.15%.
About Rio Tinto
(
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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