Rio Tinto PLC $RIO Shares Purchased by Euro Pacific Asset Management LLC

Key Points

• Euro Pacific Asset Management LLC increased its shares in Rio Tinto PLC by 848.2% in Q2, owning 46,225 shares valued at $2,696,000.
• Rio Tinto has a current market cap of $82.82 billion, a price-to-earnings ratio of 10.24, and recently declared a semi-annual dividend of $1.48 per share.
• Analysts have mixed ratings on Rio Tinto, with a current average rating of "Moderate Buy" and a price target of $73.00.

Euro Pacific Asset Management LLC grew its position in shares of Rio Tinto PLC (NYSE:RIO - Free Report) by 848.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 46,225 shares of the mining company's stock after purchasing an additional 41,350 shares during the period. Euro Pacific Asset Management LLC's holdings in Rio Tinto were worth $2,696,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of RIO. Wayfinding Financial LLC acquired a new stake in Rio Tinto during the first quarter worth approximately $30,000. Pandora Wealth Inc. purchased a new position in shares of Rio Tinto during the 1st quarter worth $30,000. Alpine Bank Wealth Management acquired a new stake in shares of Rio Tinto during the first quarter worth $30,000. Bfsg LLC boosted its holdings in shares of Rio Tinto by 5,754.5% during the first quarter. Bfsg LLC now owns 644 shares of the mining company's stock worth $39,000 after purchasing an additional 633 shares during the last quarter. Finally, Hilltop National Bank purchased a new stake in shares of Rio Tinto in the second quarter valued at $44,000. 19.33% of the stock is currently owned by hedge funds and other institutional investors.

Rio Tinto Trading Down 0.3%

Shares of RIO stock opened at $66.03 on Monday. The stock has a market cap of $82.82 billion, a price-to-earnings ratio of 10.24, a price-to-earnings-growth ratio of 4.75 and a beta of 0.66. 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 fifty-two week low of $51.67 and a fifty-two week high of $69.92. The firm's 50 day moving average price is $62.56 and its two-hundred day moving average price is $60.53.

Rio Tinto Cuts Dividend

The firm also recently declared a semi-annual dividend, which was paid on Thursday, September 25th. Investors 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 of this dividend was Friday, August 15th. Rio Tinto's dividend payout ratio is 45.74%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. Morgan Stanley reiterated an "overweight" rating on shares of Rio Tinto in a research note on Monday, July 14th. Barclays reaffirmed an "overweight" rating on shares of Rio Tinto in a research note on Wednesday, July 2nd. Deutsche Bank Aktiengesellschaft cut shares of Rio Tinto from a "buy" rating to a "hold" rating in a research report on Wednesday, July 30th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Rio Tinto in a research report on Saturday, September 27th. Finally, Berenberg Bank reaffirmed a "hold" rating on shares of Rio Tinto in a research note on Thursday, July 3rd. Two equities research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and five have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, Rio Tinto currently has an average rating of "Moderate Buy" and an average 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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