Rio Tinto PLC $RIO Shares Sold by Sowell Financial Services LLC

Key Points

• Sowell Financial Services LLC reduced its stake in Rio Tinto PLC by 42.2% during the 2nd quarter, now holding 12,291 shares valued at $717,000.
• Rio Tinto recently declared a semi-annual dividend of $1.48 per share, with an ex-dividend date of August 15th, representing a yield of 620.0%.
• The company has received mixed analyst ratings, with two analysts rating it a Strong Buy, while Deutsche Bank downgraded its rating from a Buy to Hold.

Sowell Financial Services LLC lessened its position in shares of Rio Tinto PLC (NYSE:RIO - Free Report) by 42.2% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 12,291 shares of the mining company's stock after selling 8,964 shares during the period. Sowell Financial Services LLC's holdings in Rio Tinto were worth $717,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Aspen Wealth Strategies LLC grew its stake in shares of Rio Tinto by 3.7% during the first 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 in the last quarter. Hamilton Point Investment Advisors LLC lifted its holdings in 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 buying an additional 194 shares during the last quarter. Walker Asset Management LLC boosted its position in shares of Rio Tinto by 4.8% during the 1st quarter. Walker Asset Management LLC now owns 4,326 shares of the mining company's stock worth $260,000 after acquiring an additional 200 shares in the last quarter. Quintet Private Bank Europe S.A. boosted its position in shares of 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 worth $132,000 after acquiring an additional 200 shares in the last quarter. Finally, Gallacher Capital Management LLC increased its holdings in shares of Rio Tinto by 3.6% in the 1st quarter. Gallacher Capital Management LLC now owns 5,740 shares of the mining company's stock valued at $345,000 after acquiring an additional 201 shares during the last quarter. 19.33% of the stock is owned by hedge funds and other institutional investors.

Rio Tinto Price Performance

Shares of RIO opened at $63.90 on Thursday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.03 and a current ratio of 1.53. Rio Tinto PLC has a fifty-two week low of $51.67 and a fifty-two week high of $72.08. The firm has a 50-day simple moving average of $62.12 and a 200-day simple moving average of $60.40. The company has a market capitalization of $80.14 billion, a price-to-earnings ratio of 9.91 and a beta of 0.66.

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 paid 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 is 45.74%.

Analyst Upgrades and Downgrades

RIO has been the subject of several recent analyst reports. Barclays restated 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 report on Wednesday, July 30th. Berenberg Bank reiterated a "hold" rating on shares of Rio Tinto in a research note on Thursday, July 3rd. Jefferies Financial Group restated a "hold" rating on shares of Rio Tinto in a research note on Tuesday, June 3rd. Finally, Morgan Stanley reaffirmed an "overweight" rating on shares of Rio Tinto in a report on Monday, July 14th. Two equities research 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 stock. According to MarketBeat, Rio Tinto presently has an average rating of "Moderate Buy" and a consensus target price of $73.00.

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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