Compound Planning Inc. Has $1.18 Million Holdings in Rio Tinto PLC $RIO

Key Points

• Compound Planning Inc. has increased its stake in Rio Tinto PLC by 58.4%, owning 19,613 shares valued at approximately $1.18 million as of the latest reporting period.
• Institutional investors collectively own 19.33% of Rio Tinto's stock, with multiple funds, including Bessemer Group Inc. and Farther Finance Advisors LLC, also increasing their holdings significantly in the first quarter.
• Rio Tinto's shares were downgraded to a "hold" rating by Deutsche Bank, while other analysts like Morgan Stanley and Barclays maintained an "overweight" rating, resulting in an average rating of "Moderate Buy" and a consensus target price of $73.00.

Compound Planning Inc. boosted its holdings in shares of Rio Tinto PLC (NYSE:RIO - Free Report) by 58.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 19,613 shares of the mining company's stock after buying an additional 7,230 shares during the quarter. Compound Planning Inc.'s holdings in Rio Tinto were worth $1,178,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of RIO. Goldman Sachs Group Inc. lifted its stake in shares of Rio Tinto by 4.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 8,368,620 shares of the mining company's stock worth $502,787,000 after buying an additional 326,661 shares during the last quarter. Auto Owners Insurance Co grew its position in shares of Rio Tinto by 77,150.0% in the first quarter. Auto Owners Insurance Co now owns 7,416,000 shares of the mining company's stock valued at $445,553,000 after purchasing an additional 7,406,400 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of Rio Tinto by 33.9% in the first quarter. Dimensional Fund Advisors LP now owns 1,938,247 shares of the mining company's stock valued at $116,510,000 after purchasing an additional 490,357 shares during the last quarter. Northern Trust Corp grew its position in shares of Rio Tinto by 3.8% in the first quarter. Northern Trust Corp now owns 1,663,964 shares of the mining company's stock valued at $99,971,000 after purchasing an additional 60,927 shares during the last quarter. Finally, Deutsche Bank AG grew its position in shares of 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 purchasing an additional 1,263,203 shares during the last quarter. Institutional investors and hedge funds own 19.33% of the company's stock.

Rio Tinto Price Performance

Shares of RIO traded up $0.18 during trading hours on Wednesday, reaching $62.13. The stock had a trading volume of 1,779,276 shares, compared to its average volume of 3,329,366. Rio Tinto PLC has a 12 month low of $51.67 and a 12 month high of $72.08. The stock has a market capitalization of $77.92 billion, a PE ratio of 9.63 and a beta of 0.64. 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 company's 50-day moving average is $60.28 and its two-hundred day moving average is $60.35.

Rio Tinto Cuts Dividend

The firm also recently declared 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%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. Morgan Stanley reaffirmed an "overweight" rating on shares of Rio Tinto in a research report on Monday, July 14th. Deutsche Bank Aktiengesellschaft downgraded Rio Tinto from a "buy" rating to a "hold" rating in a research report on Wednesday, July 30th. Barclays reaffirmed an "overweight" rating on shares of Rio Tinto in a research report on Wednesday, July 2nd. Jefferies Financial Group reissued a "hold" rating on shares of Rio Tinto in a research report on Tuesday, June 3rd. Finally, Berenberg Bank reissued a "hold" rating on shares of Rio Tinto in a research report on Thursday, July 3rd. Two equities research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target 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.