Rio Tinto PLC $RIO Shares Bought by FORA Capital LLC

Key Points

• FORA Capital LLC increased its holdings in Rio Tinto PLC by 493.7% during the first quarter, accumulating a total of 21,481 shares valued at approximately $1.29 million.
• Several other institutional investors also adjusted their positions, with 19.33% of Rio Tinto's stock now owned by institutional investors.
• Rio Tinto announced a semi-annual dividend of $1.48 per share, representing a significant yield of 620.0%, with the payout set for September 25th.

FORA Capital LLC lifted its holdings in Rio Tinto PLC (NYSE:RIO - Free Report) by 493.7% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 21,481 shares of the mining company's stock after buying an additional 17,863 shares during the quarter. FORA Capital LLC's holdings in Rio Tinto were worth $1,291,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of RIO. Capital Analysts LLC lifted its holdings in Rio Tinto by 6.0% in the fourth quarter. Capital Analysts LLC now owns 2,886 shares of the mining company's stock worth $170,000 after acquiring an additional 163 shares during the last quarter. Aspen Wealth Strategies LLC raised its position in shares of Rio Tinto by 3.7% during the 1st quarter. Aspen Wealth Strategies LLC now owns 4,810 shares of the mining company's stock worth $289,000 after purchasing an additional 172 shares during the period. Hamilton Point Investment Advisors LLC raised its position in shares of Rio Tinto by 0.4% during the 1st quarter. Hamilton Point Investment Advisors LLC now owns 44,385 shares of the mining company's stock worth $2,767,000 after purchasing an additional 194 shares during the period. Walker Asset Management LLC lifted its holdings in shares of Rio Tinto by 4.8% in the 1st quarter. Walker Asset Management LLC now owns 4,326 shares of the mining company's stock worth $260,000 after purchasing an additional 200 shares during the last quarter. Finally, Quintet Private Bank Europe S.A. boosted its position in Rio Tinto by 10.0% during the 1st quarter. Quintet Private Bank Europe S.A. now owns 2,200 shares of the mining company's stock valued at $132,000 after purchasing an additional 200 shares during the period. Institutional investors own 19.33% of the company's stock.

Analyst Upgrades and Downgrades

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

Rio Tinto Trading Down 0.6%

Shares of NYSE:RIO opened at $61.93 on Wednesday. The company has a 50 day moving average of $60.28 and a 200-day moving average of $60.35. The company has a current ratio of 1.53, a quick ratio of 1.03 and a debt-to-equity ratio of 0.37. The firm has a market cap of $77.66 billion, a P/E ratio of 9.60 and a beta of 0.64. Rio Tinto PLC has a twelve month low of $51.67 and a twelve month high of $72.08.

Rio Tinto Cuts Dividend

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

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