Oppenheimer Asset Management Inc. Has $9.14 Million Position in Rio Tinto PLC $RIO

Key Points

• Oppenheimer Asset Management raised its stake in Rio Tinto by 36% in Q4, adding 30,254 shares to hold 114,260 shares valued at about $9.14 million.
• Rio Tinto paid a $2.54 per-share dividend to shareholders of record on March 6, with the payment made on April 16.
• Analysts maintain a consensus Hold on RIO with a $101.75 target (four Buy vs. eleven Hold), after mixed recent actions including upgrades from Weiss and downgrades from JPMorgan and Zacks.

Oppenheimer Asset Management Inc. lifted its stake in Rio Tinto PLC (NYSE:RIO - Free Report) by 36.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 114,260 shares of the mining company's stock after buying an additional 30,254 shares during the period. Oppenheimer Asset Management Inc.'s holdings in Rio Tinto were worth $9,144,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. PFS Partners LLC bought a new stake in shares of Rio Tinto in the fourth quarter valued at about $28,000. Nvest Wealth Strategies Inc. acquired a new position in Rio Tinto in the fourth quarter worth about $28,000. Salomon & Ludwin LLC raised its position in Rio Tinto by 62.2% in the third quarter. Salomon & Ludwin LLC now owns 472 shares of the mining company's stock worth $31,000 after purchasing an additional 181 shares in the last quarter. Trust Co. of Toledo NA OH acquired a new position in Rio Tinto in the fourth quarter worth about $34,000. Finally, Root Financial Partners LLC acquired a new position in Rio Tinto in the third quarter worth about $36,000. Institutional investors own 19.33% of the company's stock.

Rio Tinto Price Performance

Shares of RIO stock opened at $100.61 on Friday. The company has a current ratio of 1.44, a quick ratio of 0.98 and a debt-to-equity ratio of 0.33. Rio Tinto PLC has a 1 year low of $55.64 and a 1 year high of $101.53. The firm's fifty day moving average price is $94.47 and its two-hundred day moving average price is $84.76.

Rio Tinto Announces Dividend

The firm also recently declared a dividend, which was paid on Thursday, April 16th. Shareholders of record on Friday, March 6th were paid a $2.54 dividend. This represents a yield of 564.0%. The ex-dividend date was Friday, March 6th.

Analyst Ratings Changes

Several research firms recently issued reports on RIO. Weiss Ratings raised shares of Rio Tinto from a "hold (c)" rating to a "buy (b-)" rating in a research report on Friday, February 20th. JPMorgan Chase & Co. lowered shares of Rio Tinto from an "overweight" rating to a "neutral" rating in a research report on Monday, March 9th. Citigroup reaffirmed a "neutral" rating on shares of Rio Tinto in a report on Monday, April 13th. Zacks Research lowered shares of Rio Tinto from a "strong-buy" rating to a "hold" rating in a report on Tuesday, April 7th. Finally, Argus set a $120.00 price objective on shares of Rio Tinto in a report on Monday. Four equities research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $101.75.

About Rio Tinto

Rio Tinto is a global mining and metals company that explores for, mines, processes and markets a wide range of commodities. Its principal products include iron ore, aluminum, copper, diamonds and various other minerals and industrial materials. The company's activities span the full value chain from exploration and project development to mining, processing, smelting and refining, supplying raw materials to industries such as steelmaking, automotive, packaging, electronics and construction.

The origins of Rio Tinto date back to mining operations in the Rio Tinto region of Spain in the 19th century, and the group has since grown into a multinational enterprise.

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