Quantbot Technologies LP Buys New Holdings in Rio Tinto PLC $RIO

Key Points

• Quantbot Technologies LP acquired 66,260 shares of Rio Tinto PLC, valued at approximately $3,981,000, in the first quarter, indicating increased institutional interest in the company.
• Rio Tinto recently declared a semi-annual dividend of $1.48 per share, resulting in a substantial yield of 620.0%, with a payout ratio of 45.74%.
• Analysts have varying opinions on Rio Tinto's stock, with recent ratings showing a consensus of a "Moderate Buy" and an average price target of $73.00.

Quantbot Technologies LP bought a new stake in Rio Tinto PLC (NYSE:RIO - Free Report) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 66,260 shares of the mining company's stock, valued at approximately $3,981,000.

A number of other hedge funds have also modified their holdings of the business. 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 raised its position in shares of Rio Tinto by 4.8% in the first quarter. Walker Asset Management LLC now owns 4,326 shares of the mining company's stock valued at $260,000 after buying an additional 200 shares during the last quarter. Finally, Quintet Private Bank Europe S.A. raised its position in shares of Rio Tinto by 10.0% in the first quarter. Quintet Private Bank Europe S.A. now owns 2,200 shares of the mining company's stock valued at $132,000 after buying an additional 200 shares during the last quarter. 19.33% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. Wall Street Zen lowered shares of Rio Tinto from a "strong-buy" rating to a "buy" rating in a report on Monday, April 28th. Berenberg Bank reissued a "hold" rating on shares of Rio Tinto in a report on Thursday, July 3rd. Deutsche Bank Aktiengesellschaft lowered shares of Rio Tinto from a "buy" rating to a "hold" rating in a report on Wednesday, July 30th. Barclays reissued an "overweight" rating on shares of Rio Tinto in a report on Wednesday, July 2nd. Finally, Morgan Stanley reissued an "overweight" rating on shares of Rio Tinto in a report on Monday, July 14th. Two investment 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 stock. Based on data from MarketBeat, Rio Tinto currently has an average rating of "Moderate Buy" and a consensus target price of $73.00.

Rio Tinto Trading Up 2.2%

RIO stock traded up $1.3460 during mid-day trading on Friday, hitting $62.6460. 3,966,111 shares of the company were exchanged, compared to its average volume of 3,320,682. The company has a quick ratio of 1.03, a current ratio of 1.53 and a debt-to-equity ratio of 0.37. The firm has a market capitalization of $78.57 billion, a P/E ratio of 9.71 and a beta of 0.64. The business has a fifty day simple moving average of $60.10 and a 200-day simple moving average of $60.36. Rio Tinto PLC has a 12-month low of $51.67 and a 12-month high of $72.08.

Rio Tinto Cuts Dividend

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