NewEdge Advisors LLC Boosts Stock Position in Rio Tinto PLC $RIO

Key Points

• NewEdge Advisors LLC increased its stake in Rio Tinto by 53.7%, owning 68,360 shares valued at approximately $4.1 million as of the end of the first quarter.
• 多个投资机构在第四季度对Rio Tinto的股票也进行了显著的增持，包括Ameriprise Financial和德意志银行，后者将其评级从“买入”下调至“持有”。
• Rio Tinto宣布将支付每股$1.48的股息，股息率为620.0%，其股息支付比率为45.74%。

NewEdge Advisors LLC boosted its holdings in Rio Tinto PLC (NYSE:RIO - Free Report) by 53.7% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 68,360 shares of the mining company's stock after acquiring an additional 23,882 shares during the period. NewEdge Advisors LLC's holdings in Rio Tinto were worth $4,107,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. lifted its stake in Rio Tinto by 4.1% during the first quarter. Goldman Sachs Group Inc. now owns 8,368,620 shares of the mining company's stock worth $502,787,000 after purchasing an additional 326,661 shares in the last quarter. Auto Owners Insurance Co lifted its stake in Rio Tinto by 77,150.0% during the first quarter. Auto Owners Insurance Co now owns 7,416,000 shares of the mining company's stock worth $445,553,000 after purchasing an additional 7,406,400 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in Rio Tinto by 33.9% during the first quarter. Dimensional Fund Advisors LP now owns 1,938,247 shares of the mining company's stock worth $116,510,000 after purchasing an additional 490,357 shares in the last quarter. Northern Trust Corp lifted its stake in Rio Tinto by 3.8% during the first quarter. Northern Trust Corp now owns 1,663,964 shares of the mining company's stock worth $99,971,000 after purchasing an additional 60,927 shares in the last quarter. Finally, Earnest Partners LLC lifted its stake in Rio Tinto by 3.4% during the first quarter. Earnest Partners LLC now owns 1,372,590 shares of the mining company's stock worth $82,465,000 after purchasing an additional 44,727 shares in the last quarter. 19.33% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

RIO has been the topic of a number of research reports. 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. Barclays restated an "overweight" rating on shares of Rio Tinto in a research note on Wednesday, July 2nd. Deutsche Bank Aktiengesellschaft cut Rio Tinto from a "buy" rating to a "hold" rating in a research note on Wednesday, July 30th. Finally, Jefferies Financial Group reiterated a "hold" rating on shares of Rio Tinto in a research note on Tuesday, June 3rd. Two equities research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and four have issued a Hold rating to the company's stock. According to data from MarketBeat, Rio Tinto currently has a consensus rating of "Moderate Buy" and an average price target of $73.00.

Rio Tinto Stock Down 0.2%

NYSE:RIO traded down $0.15 during trading hours on Friday, hitting $62.39. The company's stock had a trading volume of 2,463,553 shares, compared to its average volume of 2,554,711. The stock has a market capitalization of $78.25 billion, a P/E ratio of 9.67 and a beta of 0.66. The stock has a fifty day moving average of $61.43 and a 200-day moving average of $60.34. The company has a current ratio of 1.53, a quick ratio of 1.03 and a debt-to-equity ratio of 0.37. Rio Tinto PLC has a 52-week low of $51.67 and a 52-week high of $72.08.

Rio Tinto Cuts Dividend

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

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.