Rio Tinto PLC (NYSE:RIO) Shares Purchased by TLS Advisors LLC

Key Points

• TLS Advisors LLC increased its stake in Rio Tinto PLC by 14.5%, owning 118,100 shares, which account for 16.0% of its portfolio valued at approximately $7.1 million.
• Notable increases in investment stakes were noted from several firms, including Goldman Sachs and Auto Owners Insurance Co, which significantly boosted their holdings in Rio Tinto during the 1st quarter.
• Rio Tinto's recent dividends will yield 620.0% with a payout ratio of 69.15%, reflecting its financial strategy amidst changing market dynamics.

TLS Advisors LLC raised its stake in Rio Tinto PLC (NYSE:RIO - Free Report) by 14.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 118,100 shares of the mining company's stock after purchasing an additional 15,000 shares during the quarter. Rio Tinto accounts for 16.0% of TLS Advisors LLC's investment portfolio, making the stock its 3rd biggest holding. TLS Advisors LLC's holdings in Rio Tinto were worth $7,095,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently modified their holdings of RIO. Goldman Sachs Group Inc. increased its position in shares of Rio Tinto by 4.1% in the first quarter. Goldman Sachs Group Inc. now owns 8,368,620 shares of the mining company's stock valued at $502,787,000 after buying an additional 326,661 shares in the last quarter. Auto Owners Insurance Co increased its position in Rio Tinto by 77,150.0% during the 1st quarter. Auto Owners Insurance Co now owns 7,416,000 shares of the mining company's stock worth $445,553,000 after purchasing an additional 7,406,400 shares in the last quarter. FMR LLC increased its position in Rio Tinto by 24.6% during the 4th quarter. FMR LLC now owns 1,721,690 shares of the mining company's stock worth $101,253,000 after purchasing an additional 339,924 shares in the last quarter. Northern Trust Corp increased its position in Rio Tinto by 18.9% during the 4th quarter. Northern Trust Corp now owns 1,603,037 shares of the mining company's stock worth $94,275,000 after purchasing an additional 255,151 shares in the last quarter. Finally, Deutsche Bank AG increased its position in Rio Tinto by 143,872.8% during the 4th quarter. Deutsche Bank AG now owns 1,264,081 shares of the mining company's stock worth $74,341,000 after purchasing an additional 1,263,203 shares in the last quarter. 19.33% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have commented on RIO shares. Morgan Stanley restated an "overweight" rating on shares of Rio Tinto in a report on Monday, July 14th. Berenberg Bank reaffirmed a "hold" rating on shares of Rio Tinto in a research note on Thursday, July 3rd. Deutsche Bank Aktiengesellschaft lowered Rio Tinto from a "buy" rating to a "hold" rating in a research note on Wednesday, July 30th. Barclays reissued an "overweight" rating on shares of Rio Tinto in a research report on Wednesday, July 2nd. Finally, Wall Street Zen lowered Rio Tinto from a "strong-buy" rating to a "buy" rating in a research report on Monday, April 28th. Four research analysts have rated the stock with a hold rating, four have given a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $73.00.

Rio Tinto Stock Up 0.5%

NYSE:RIO traded up $0.29 during trading hours on Monday, hitting $62.15. 2,621,149 shares of the company's stock traded hands, compared to its average volume of 3,536,359. The firm has a market cap of $77.94 billion, a P/E ratio of 9.64 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. Rio Tinto PLC has a twelve month low of $51.67 and a twelve month high of $72.08. The stock's fifty day moving average price is $59.58 and its two-hundred day moving average price is $60.28.

Rio Tinto Cuts Dividend

The firm 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 dividend of $1.48 per share. The ex-dividend date is Friday, August 15th. This represents a yield of 620.0%. Rio Tinto's dividend payout ratio is presently 69.15%.

About Rio Tinto

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.