Rio Tinto PLC (NYSE:RIO) Shares Purchased by Caitong International Asset Management Co. Ltd

Key Points

• Caitong International Asset Management Co. Ltd significantly increased its holdings in Rio Tinto PLC by 766.2% during the first quarter, owning a total of 6,904 shares worth $415,000 by the end of the quarter.
• Major institutional investors, including Auto Owners Insurance Co and Deutsche Bank AG, also made substantial moves in Rio Tinto shares, with Auto Owners increasing its position by 77,150.0% and Deutsche Bank downgrading its rating from "buy" to "hold."
• The company recently declared a semi-annual dividend of $1.48 per share, with a dividend yield of 620.0%, set to be paid out to stockholders of record on August 15th.

Caitong International Asset Management Co. Ltd increased its position in shares of Rio Tinto PLC (NYSE:RIO - Free Report) by 766.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,904 shares of the mining company's stock after purchasing an additional 6,107 shares during the period. Caitong International Asset Management Co. Ltd's holdings in Rio Tinto were worth $415,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of RIO. Auto Owners Insurance Co lifted its position in shares of Rio Tinto by 77,150.0% during the 1st quarter. Auto Owners Insurance Co now owns 7,416,000 shares of the mining company's stock worth $445,553,000 after buying an additional 7,406,400 shares during the last quarter. Deutsche Bank AG lifted its position in Rio Tinto by 143,872.8% in the fourth quarter. Deutsche Bank AG now owns 1,264,081 shares of the mining company's stock valued at $74,341,000 after acquiring an additional 1,263,203 shares during the last quarter. Dynamo Internacional Gestao DE Recursos LTDA. boosted its stake in Rio Tinto by 119.2% in the fourth quarter. Dynamo Internacional Gestao DE Recursos LTDA. now owns 129,804 shares of the mining company's stock valued at $2,423,000 after acquiring an additional 807,610 shares in the last quarter. Paloma Partners Management Co purchased a new position in Rio Tinto during the 4th quarter worth approximately $40,032,000. Finally, Raymond James Financial Inc. purchased a new stake in Rio Tinto in the fourth quarter valued at approximately $29,606,000. 19.33% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on RIO shares. Morgan Stanley reiterated an "overweight" rating on shares of Rio Tinto in a research note on Monday, July 14th. Deutsche Bank Aktiengesellschaft downgraded shares of Rio Tinto from a "buy" rating to a "hold" rating in a research note on Wednesday, July 30th. Wall Street Zen cut Rio Tinto from a "strong-buy" rating to a "buy" rating in a research report on Monday, April 28th. Jefferies Financial Group reaffirmed a "hold" rating on shares of Rio Tinto in a research report on Tuesday, June 3rd. Finally, Barclays reissued an "overweight" rating on shares of Rio Tinto in a report on Wednesday, July 2nd. Four research analysts have rated the stock with a hold rating, four have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $73.00.

Rio Tinto Stock Up 1.6%

RIO opened at $63.14 on Wednesday. The business has a 50 day simple moving average of $59.66 and a 200-day simple moving average of $60.30. The stock has a market capitalization of $79.18 billion, a P/E ratio of 9.79 and a beta of 0.64. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.53 and a quick ratio of 1.03. Rio Tinto PLC has a 12 month low of $51.67 and a 12 month high of $72.08.

Rio Tinto Cuts Dividend

The business 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 is Friday, August 15th. Rio Tinto's dividend payout ratio (DPR) is presently 69.15%.

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.

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