Rio Tinto PLC $RIO Shares Sold by Rhumbline Advisers

Key Points

• Rhumbline Advisers reduced its stake in Rio Tinto PLC by 35.0%, owning 16,123 shares worth $969,000 after selling 8,670 shares in the first quarter.
• Institutional investors own 19.33% of Rio Tinto's stock, with significant recent activity including Vise Technologies increasing its holdings by 4.9%.
• Rio Tinto's stock has received a consensus rating of "Moderate Buy" with an average price target of $73.00 following recent downgrades and mixed ratings from several analysts.

Rhumbline Advisers cut its holdings in Rio Tinto PLC (NYSE:RIO - Free Report) by 35.0% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 16,123 shares of the mining company's stock after selling 8,670 shares during the period. Rhumbline Advisers' holdings in Rio Tinto were worth $969,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of RIO. Alpine Bank Wealth Management acquired a new position in Rio Tinto in the 1st quarter valued at $30,000. Wayfinding Financial LLC acquired a new stake in shares of Rio Tinto during the 1st quarter worth $30,000. Pandora Wealth Inc. acquired a new stake in shares of Rio Tinto during the 1st quarter worth $30,000. Bfsg LLC increased its holdings in shares of Rio Tinto by 5,754.5% during the 1st quarter. Bfsg LLC now owns 644 shares of the mining company's stock worth $39,000 after buying an additional 633 shares during the last quarter. Finally, Ameriflex Group Inc. acquired a new stake in shares of Rio Tinto during the 4th quarter worth $47,000. 19.33% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

RIO has been the subject of a number of research analyst reports. Barclays restated an "overweight" rating on shares of Rio Tinto in a report on Wednesday, July 2nd. Berenberg Bank restated a "hold" rating on shares of Rio Tinto in a report on Thursday, July 3rd. Morgan Stanley restated an "overweight" rating on shares of Rio Tinto in a report on Monday, July 14th. Deutsche Bank Aktiengesellschaft downgraded Rio Tinto from a "buy" rating to a "hold" rating in a report on Wednesday, July 30th. Finally, Jefferies Financial Group reiterated a "hold" rating on shares of Rio Tinto in a report on Tuesday, June 3rd. Two research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, Rio Tinto presently has a consensus rating of "Moderate Buy" and an average target price of $73.00.

Rio Tinto Stock Performance

RIO traded down $0.11 on Tuesday, hitting $63.54. 919,707 shares of the company's stock were exchanged, compared to its average volume of 3,283,405. The firm has a market cap of $79.69 billion, a PE ratio of 9.85 and a beta of 0.66. Rio Tinto PLC has a twelve month low of $51.67 and a twelve month high of $72.08. The stock has a fifty day moving average of $61.94 and a two-hundred day moving average of $60.36. The company has a current ratio of 1.53, a quick ratio of 1.03 and a debt-to-equity ratio of 0.37.

Rio Tinto Cuts Dividend

The firm also recently disclosed a semi-annual dividend, which will be paid on Thursday, September 25th. Investors of record on Friday, August 15th will be paid 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 dividend payout ratio is 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.