RFG Advisory LLC Acquires 3,822 Shares of Rio Tinto PLC $RIO

Key Points

• RFG Advisory LLC increased its stake in Rio Tinto PLC by 27.6%, acquiring an additional 3,822 shares, bringing its total holdings to 17,646 shares valued at approximately $1,029,000.
• The company's stock has shown a significant price range, with a 12-month low of $51.67 and a high of $69.30, and currently trading at $68.75.
• Rio Tinto declared a semi-annual dividend of $1.48 per share, with a current dividend payout ratio of 45.74% and a yield of 620.0%.

RFG Advisory LLC raised its holdings in shares of Rio Tinto PLC (NYSE:RIO - Free Report) by 27.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 17,646 shares of the mining company's stock after acquiring an additional 3,822 shares during the quarter. RFG Advisory LLC's holdings in Rio Tinto were worth $1,029,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Alpine Bank Wealth Management bought a new position in shares of Rio Tinto in the first quarter worth $30,000. Wayfinding Financial LLC bought a new position in shares of Rio Tinto in the first quarter worth $30,000. Pandora Wealth Inc. bought a new position in shares of Rio Tinto in the first quarter worth $30,000. Hilltop National Bank bought a new position in shares of Rio Tinto in the second quarter worth $44,000. Finally, Resources Management Corp CT ADV bought a new position in shares of Rio Tinto in the first quarter worth $48,000. Institutional investors own 19.33% of the company's stock.

Rio Tinto Stock Performance

NYSE RIO opened at $68.75 on Friday. The company has a 50-day simple moving average of $63.83 and a two-hundred day simple moving average of $60.89. The company has a quick ratio of 1.03, a current ratio of 1.53 and a debt-to-equity ratio of 0.37. Rio Tinto PLC has a 12-month low of $51.67 and a 12-month high of $69.30. The firm has a market cap of $86.22 billion, a price-to-earnings ratio of 10.66, a PEG ratio of 6.24 and a beta of 0.66.

Rio Tinto Cuts Dividend

The firm also recently declared a semi-annual dividend, which was paid on Thursday, September 25th. Shareholders of record on Friday, August 15th were given a dividend of $1.48 per share. This represents a yield of 620.0%. The ex-dividend date was Friday, August 15th. Rio Tinto's dividend payout ratio is presently 45.74%.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Morgan Stanley reaffirmed an "overweight" rating on shares of Rio Tinto in a report on Wednesday, October 8th. Berenberg Bank reiterated a "hold" rating on shares of Rio Tinto in a research report on Thursday, July 3rd. Deutsche Bank Aktiengesellschaft lowered shares of Rio Tinto from a "buy" rating to a "hold" rating in a research report on Wednesday, July 30th. Zacks Research upgraded shares of Rio Tinto from a "hold" rating to a "strong-buy" rating in a research report on Monday, October 6th. Finally, Weiss Ratings reiterated a "hold (c)" rating on shares of Rio Tinto in a research report on Wednesday, October 8th. Three research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $73.00.

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.

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