Rio Tinto PLC $RIO Shares Sold by OLD Mission Capital LLC

Key Points

• OLD Mission Capital LLC reduced its stake in Rio Tinto PLC by 64.1%, now holding 26,032 shares valued at $1.56 million.
• Rio Tinto's stock has a market capitalization of $78.63 billion with a P/E ratio of 9.72 and currently trades at $62.70.
• Recent analyst ratings show a consensus of "Moderate Buy" for Rio Tinto's stock, with a target price of $73.00 and some analysts maintaining "hold" ratings.

OLD Mission Capital LLC trimmed its position in Rio Tinto PLC (NYSE:RIO - Free Report) by 64.1% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 26,032 shares of the mining company's stock after selling 46,468 shares during the period. OLD Mission Capital LLC's holdings in Rio Tinto were worth $1,564,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Alpine Bank Wealth Management acquired a new position in shares of Rio Tinto in the first quarter valued at about $30,000. Wayfinding Financial LLC purchased a new position in Rio Tinto during the 1st quarter worth approximately $30,000. Pandora Wealth Inc. purchased a new stake in shares of Rio Tinto in the 1st quarter valued at $30,000. Bfsg LLC increased its stake 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 worth $39,000 after acquiring an additional 633 shares during the period. Finally, Ameriflex Group Inc. purchased a new position in shares of Rio Tinto during the fourth quarter worth $47,000. Institutional investors and hedge funds own 19.33% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Barclays reaffirmed an "overweight" rating on shares of Rio Tinto in a report on Wednesday, July 2nd. Berenberg Bank reissued a "hold" rating on shares of Rio Tinto in a report on Thursday, July 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 reaffirmed an "overweight" rating on shares of Rio Tinto in a report on Monday, July 14th. Finally, Jefferies Financial Group reissued a "hold" rating on shares of Rio Tinto in a report 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 assigned a Hold rating to the company. According to data from MarketBeat, Rio Tinto presently has an average rating of "Moderate Buy" and a consensus target price of $73.00.

Rio Tinto Price Performance

Shares of NYSE:RIO traded up $0.04 during trading on Thursday, reaching $62.52. The stock had a trading volume of 1,147,411 shares, compared to its average volume of 3,285,461. The business has a fifty day moving average price of $60.96 and a 200-day moving average price of $60.37. Rio Tinto PLC has a 1-year low of $51.67 and a 1-year high of $72.08. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.03 and a current ratio of 1.53. The stock has a market cap of $78.41 billion, a PE ratio of 9.69 and a beta of 0.66.

Rio Tinto Cuts Dividend

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