TrueMark Investments LLC Has $1.78 Million Holdings in Rio Tinto PLC $RIO

Key Points

• TrueMark Investments LLC increased its stake in Rio Tinto PLC by 18.3% during Q2, bringing its holdings to 30,591 shares valued at approximately $1.78 million.
• Rio Tinto's recent dividend payout was $1.48 per share, reflecting a yield of 620.0%, with a payout ratio of 45.74%.
• Research analyst ratings for Rio Tinto are mixed, with ratings varying from Strong Buy to Hold, and an average target price set at $73.00.

TrueMark Investments LLC boosted its holdings in shares of Rio Tinto PLC (NYSE:RIO - Free Report) by 18.3% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 30,591 shares of the mining company's stock after buying an additional 4,738 shares during the quarter. TrueMark Investments LLC's holdings in Rio Tinto were worth $1,784,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in RIO. GAMMA Investing LLC grew its position in shares of Rio Tinto by 36.8% in the first quarter. GAMMA Investing LLC now owns 2,546 shares of the mining company's stock valued at $153,000 after purchasing an additional 685 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its position in shares of Rio Tinto by 3.7% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 98,686 shares of the mining company's stock valued at $5,929,000 after purchasing an additional 3,481 shares during the last quarter. Johnson Investment Counsel Inc. grew its position in shares of Rio Tinto by 10.4% in the first quarter. Johnson Investment Counsel Inc. now owns 19,410 shares of the mining company's stock valued at $1,166,000 after purchasing an additional 1,830 shares during the last quarter. Blue Trust Inc. grew its position in shares of Rio Tinto by 50.3% in the first quarter. Blue Trust Inc. now owns 12,790 shares of the mining company's stock valued at $768,000 after purchasing an additional 4,279 shares during the last quarter. Finally, Avior Wealth Management LLC grew its position in shares of Rio Tinto by 43.2% in the first quarter. Avior Wealth Management LLC now owns 8,205 shares of the mining company's stock valued at $493,000 after purchasing an additional 2,476 shares during the last quarter. Institutional investors and hedge funds own 19.33% of the company's stock.

Rio Tinto Trading Down 0.9%

Shares of NYSE:RIO opened at $68.12 on Friday. The company has a market capitalization of $85.43 billion, a P/E ratio of 10.56, a P/E/G ratio of 5.44 and a beta of 0.66. Rio Tinto PLC has a 1 year low of $51.67 and a 1 year high of $69.30. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.53 and a quick ratio of 1.03. The business's 50 day simple moving average is $63.95 and its 200 day simple moving average is $60.95.

Rio Tinto Cuts Dividend

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

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. Deutsche Bank Aktiengesellschaft downgraded 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 Wednesday, October 8th. Barclays reissued an "overweight" rating on shares of Rio Tinto in a research report on Wednesday, July 2nd. Zacks Research raised Rio Tinto from a "hold" rating to a "strong-buy" rating in a research report on Monday, October 6th. Finally, Berenberg Bank reissued a "hold" rating on shares of Rio Tinto in a research report on Thursday, July 3rd. Three research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and four have given a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price 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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