US Bancorp DE reduced its holdings in shares of Rio Tinto PLC (NYSE:RIO - Free Report) by 8.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 90,852 shares of the mining company's stock after selling 8,260 shares during the quarter. US Bancorp DE's holdings in Rio Tinto were worth $5,299,000 as of its most recent SEC filing.
A number of other hedge funds have also bought and sold shares of RIO. Farther Finance Advisors LLC lifted its holdings in Rio Tinto by 24.2% during the first quarter. Farther Finance Advisors LLC now owns 4,023 shares of the mining company's stock worth $242,000 after acquiring an additional 785 shares during the period. GAMMA Investing LLC lifted its holdings in Rio Tinto by 36.8% during the first quarter. GAMMA Investing LLC now owns 2,546 shares of the mining company's stock worth $153,000 after acquiring an additional 685 shares during the period. SG Americas Securities LLC lifted its holdings in Rio Tinto by 409.0% during the first quarter. SG Americas Securities LLC now owns 28,476 shares of the mining company's stock worth $1,711,000 after acquiring an additional 22,882 shares during the period. Elevation Point Wealth Partners LLC lifted its holdings in Rio Tinto by 4.6% during the first quarter. Elevation Point Wealth Partners LLC now owns 10,658 shares of the mining company's stock worth $640,000 after acquiring an additional 467 shares during the period. Finally, Wealth Enhancement Advisory Services LLC lifted its holdings in Rio Tinto by 3.7% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 98,686 shares of the mining company's stock worth $5,929,000 after acquiring an additional 3,481 shares during the period. 19.33% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
RIO has been the subject of a number of recent research reports. Weiss Ratings reissued a "hold (c)" rating on shares of Rio Tinto in a research report on Wednesday, October 8th. Berenberg Bank reiterated a "hold" rating on shares of Rio Tinto in a research report on Thursday, July 3rd. Zacks Research upgraded Rio Tinto from a "hold" rating to a "strong-buy" rating in a research report on Monday, October 6th. Morgan Stanley reiterated an "overweight" rating on shares of Rio Tinto in a report on Wednesday, October 8th. Finally, Barclays reiterated an "overweight" rating on shares of Rio Tinto in a report on Wednesday, July 2nd. Three equities research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $73.00.
Read Our Latest Stock Report on Rio Tinto
Rio Tinto Stock Performance
Shares of RIO opened at $68.09 on Tuesday. The business's fifty day simple moving average is $63.32 and its two-hundred day simple moving average is $60.73. The company has a current ratio of 1.53, a quick ratio of 1.03 and a debt-to-equity ratio of 0.37. Rio Tinto PLC has a 12 month low of $51.67 and a 12 month high of $68.80. The company has a market cap of $85.40 billion, a price-to-earnings ratio of 10.56, a P/E/G ratio of 4.59 and a beta of 0.66.
Rio Tinto Cuts Dividend
The company also recently declared a semi-annual dividend, which was paid on Thursday, September 25th. Stockholders of record on Friday, August 15th were issued a dividend of $1.48 per share. This represents a dividend yield of 620.0%. The ex-dividend date of this dividend was Friday, August 15th. Rio Tinto's dividend payout ratio is presently 45.74%.
Rio Tinto Company Profile
(
Free Report)
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.
Featured Stories
Want to see what other hedge funds are holding RIO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Rio Tinto PLC (NYSE:RIO - Free Report).
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Rio Tinto, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Rio Tinto wasn't on the list.
While Rio Tinto currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Enter your email address and we'll send you MarketBeat's list of seven stocks and why their long-term outlooks are very promising.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
