Triton Financial Group Inc Makes New $1.05 Million Investment in Rio Tinto PLC $RIO

Key Points

• Triton Financial Group Inc has made a new investment in Rio Tinto PLC, purchasing approximately 17,964 shares valued at about $1.05 million.
• Various institutional investors have increased their stakes in Rio Tinto, with Berkeley Capital Partners LLC raising its investment by 92.7% in the second quarter.
• Wall Street analysts have mixed ratings for Rio Tinto, with three giving it a Strong Buy rating and a consensus rating of Moderate Buy with an average price target of $73.00.

Triton Financial Group Inc purchased a new stake in shares of Rio Tinto PLC (NYSE:RIO - Free Report) in the second quarter, according to the company in its most recent filing with the SEC. The firm purchased 17,964 shares of the mining company's stock, valued at approximately $1,048,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Berkeley Capital Partners LLC raised its stake in Rio Tinto by 92.7% in the second quarter. Berkeley Capital Partners LLC now owns 28,408 shares of the mining company's stock valued at $1,657,000 after purchasing an additional 13,668 shares in the last quarter. Uhlmann Price Securities LLC increased its holdings in shares of Rio Tinto by 5.5% in the 2nd quarter. Uhlmann Price Securities LLC now owns 5,000 shares of the mining company's stock worth $292,000 after buying an additional 259 shares during the last quarter. TrueMark Investments LLC raised its position in shares of Rio Tinto by 18.3% during the 2nd quarter. TrueMark Investments LLC now owns 30,591 shares of the mining company's stock valued at $1,784,000 after buying an additional 4,738 shares in the last quarter. Stratos Wealth Advisors LLC bought a new stake in shares of Rio Tinto during the 2nd quarter worth $718,000. Finally, Oxbow Advisors LLC lifted its stake in Rio Tinto by 2.2% during the second quarter. Oxbow Advisors LLC now owns 63,988 shares of the mining company's stock worth $3,732,000 after purchasing an additional 1,386 shares during the last quarter. Hedge funds and other institutional investors own 19.33% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on RIO. Deutsche Bank Aktiengesellschaft lowered Rio Tinto from a "buy" rating to a "hold" rating in a research note on Wednesday, July 30th. Barclays reaffirmed an "overweight" rating on shares of Rio Tinto in a research note on Wednesday, July 2nd. Weiss Ratings reissued a "hold (c)" rating on shares of Rio Tinto in a research report on Wednesday, October 8th. Berenberg Bank restated a "hold" rating on shares of Rio Tinto in a research report on Thursday, July 3rd. Finally, Zacks Research raised shares of Rio Tinto from a "hold" rating to a "strong-buy" rating in a research note on Monday, October 6th. Three 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 data from MarketBeat.com, Rio Tinto has a consensus rating of "Moderate Buy" and an average price target of $73.00.

Rio Tinto Stock Up 1.7%

Shares of Rio Tinto stock opened at $69.20 on Tuesday. The stock has a market capitalization of $86.79 billion, a PE ratio of 10.73, a price-to-earnings-growth ratio of 5.44 and a beta of 0.66. Rio Tinto PLC has a 52-week low of $51.67 and a 52-week high of $69.30. 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 has a 50-day simple moving average of $64.09 and a two-hundred day simple moving average of $61.07.

Rio Tinto Cuts Dividend

The business also recently declared a semi-annual dividend, which was paid on Thursday, September 25th. Stockholders of record on Friday, August 15th were paid a $1.48 dividend. The ex-dividend date was Friday, August 15th. This represents a dividend yield of 620.0%. Rio Tinto's payout ratio is currently 45.74%.

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.

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