FORA Capital LLC Has $1.29 Million Stock Holdings in Rio Tinto PLC $RIO

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 raised its holdings in shares of Rio Tinto PLC (NYSE:RIO - Free Report) by 493.7% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 21,481 shares of the mining company's stock after purchasing an additional 17,863 shares during the period. FORA Capital LLC's holdings in Rio Tinto were worth $1,291,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of the business. 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 valued at $170,000 after buying an additional 163 shares during the period. 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 valued at $289,000 after acquiring an additional 172 shares during the last quarter. Hamilton Point Investment Advisors LLC lifted its stake in shares of Rio Tinto by 0.4% in the 1st quarter. Hamilton Point Investment Advisors LLC now owns 44,385 shares of the mining company's stock valued at $2,767,000 after purchasing an additional 194 shares during the period. Walker Asset Management LLC boosted its position 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. grew its stake in shares of Rio Tinto by 10.0% during the first quarter. Quintet Private Bank Europe S.A. now owns 2,200 shares of the mining company's stock worth $132,000 after purchasing an additional 200 shares during the period. Institutional investors and hedge funds own 19.33% of the company's stock.

Wall Street Analyst Weigh In

RIO has been the subject of a number of recent analyst reports. Berenberg Bank reiterated a "hold" rating on shares of Rio Tinto in a report on Thursday, July 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. Morgan Stanley restated an "overweight" rating on shares of Rio Tinto in a report on Monday, July 14th. Jefferies Financial Group reaffirmed a "hold" rating on shares of Rio Tinto in a research note on Tuesday, June 3rd. Finally, Barclays reissued an "overweight" rating on shares of Rio Tinto in a research report on Wednesday, July 2nd. Two investment 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 company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $73.00.

Rio Tinto Stock Down 0.3%

RIO stock traded down $0.18 during mid-day trading on Monday, hitting $62.70. 1,997,284 shares of the company were exchanged, compared to its average volume of 2,746,539. The firm has a market cap of $78.63 billion, a P/E ratio of 9.72 and a beta of 0.66. Rio Tinto PLC has a 1-year low of $51.67 and a 1-year high of $72.08. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.03 and a current ratio of 1.53. The firm's 50 day simple moving average is $60.64 and its 200 day simple moving average is $60.34.

Rio Tinto Cuts Dividend

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