Nomura Holdings Inc. cut its position in Rio Tinto PLC (NYSE:RIO - Free Report) by 47.6% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,877 shares of the mining company's stock after selling 4,425 shares during the period. Nomura Holdings Inc.'s holdings in Rio Tinto were worth $293,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors have also recently modified their holdings of RIO. Alpine Bank Wealth Management purchased a new position in Rio Tinto during the first quarter valued at $30,000. Wayfinding Financial LLC purchased a new position in Rio Tinto during the first quarter valued at $30,000. Pandora Wealth Inc. purchased a new position in Rio Tinto during the first quarter valued at $30,000. Bfsg LLC grew its stake in Rio Tinto by 5,754.5% during the first quarter. Bfsg LLC now owns 644 shares of the mining company's stock valued at $39,000 after acquiring an additional 633 shares in the last quarter. Finally, Ameriflex Group Inc. purchased a new position in Rio Tinto during 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
Several equities analysts recently weighed in on RIO shares. Jefferies Financial Group reaffirmed a "hold" rating on shares of Rio Tinto in a research note on Tuesday, June 3rd. Deutsche Bank Aktiengesellschaft cut shares of Rio Tinto from a "buy" rating to a "hold" rating in a research note on Wednesday, July 30th. Morgan Stanley reiterated an "overweight" rating on shares of Rio Tinto in a research report on Monday, July 14th. Berenberg Bank reiterated a "hold" rating on shares of Rio Tinto in a research report on Thursday, July 3rd. Finally, Barclays reiterated an "overweight" rating on shares of Rio Tinto in a research report on Wednesday, July 2nd. Two equities research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $73.00.
View Our Latest Stock Report on RIO
Rio Tinto Trading Down 0.4%
Shares of Rio Tinto stock traded down $0.23 during trading on Monday, hitting $63.74. The stock had a trading volume of 1,914,702 shares, compared to its average volume of 2,357,675. The firm's fifty day simple moving average is $61.25 and its 200-day simple moving average is $60.32. The stock has a market cap of $79.94 billion, a PE ratio of 9.88 and a beta of 0.66. 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 12 month low of $51.67 and a 12 month high of $72.08.
Rio Tinto Cuts Dividend
The company also recently announced a semi-annual dividend, which will be paid on Thursday, September 25th. Stockholders of record on Friday, August 15th will be issued a $1.48 dividend. 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 Company 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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