Venture Visionary Partners LLC Sells 4,969 Shares of Rio Tinto PLC $RIO

Key Points

• Venture Visionary Partners LLC reduced its stake in Rio Tinto PLC by 13.3%, selling 4,969 shares and holding 32,372 shares valued at approximately $1.89 million.
• A range of institutional investors have increased their holdings in Rio Tinto, with Amundi boosting its stake by 224%, now owning 230,891 shares worth around $13.49 million.
• Equities analysts have mixed opinions on Rio Tinto, with two rating it a Strong Buy, three as a Buy, and four as a Hold, leading to an average rating of Moderate Buy.

Venture Visionary Partners LLC lowered its stake in shares of Rio Tinto PLC (NYSE:RIO - Free Report) by 13.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 32,372 shares of the mining company's stock after selling 4,969 shares during the period. Venture Visionary Partners LLC's holdings in Rio Tinto were worth $1,888,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also made changes to their positions in the business. Amundi boosted its holdings in Rio Tinto by 224.0% in the first quarter. Amundi now owns 230,891 shares of the mining company's stock valued at $13,491,000 after purchasing an additional 159,636 shares during the last quarter. Farther Finance Advisors LLC grew its position in shares of Rio Tinto by 24.2% in the first quarter. Farther Finance Advisors LLC now owns 4,023 shares of the mining company's stock valued at $242,000 after purchasing an additional 785 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in shares of Rio Tinto during the 1st quarter worth $357,000. Acadian Asset Management LLC grew its stake in shares of Rio Tinto by 37.9% in the 1st quarter. Acadian Asset Management LLC now owns 57,595 shares of the mining company's stock valued at $3,458,000 after buying an additional 15,839 shares during the period. Finally, Merit Financial Group LLC acquired a new stake in Rio Tinto during the first quarter worth $251,000. 19.33% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Berenberg Bank reaffirmed a "hold" rating on shares of Rio Tinto in a research report on Thursday, July 3rd. Barclays reiterated an "overweight" rating on shares of Rio Tinto in a report on Wednesday, July 2nd. Morgan Stanley reissued an "overweight" rating on shares of Rio Tinto in a research report on Monday, July 14th. Deutsche Bank Aktiengesellschaft cut shares of Rio Tinto from a "buy" rating to a "hold" rating in a research report on Wednesday, July 30th. Finally, Jefferies Financial Group reissued a "hold" rating on shares of Rio Tinto in a report on Tuesday, June 3rd. Two investment 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 stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $73.00.

Rio Tinto Stock Up 0.1%

Shares of NYSE:RIO opened at $65.99 on Wednesday. The company has a current ratio of 1.53, a quick ratio of 1.03 and a debt-to-equity ratio of 0.37. The firm has a market cap of $82.76 billion, a price-to-earnings ratio of 10.23 and a beta of 0.66. The stock's 50-day moving average price is $62.42 and its two-hundred day moving average price is $60.50. Rio Tinto PLC has a 12-month low of $51.67 and a 12-month high of $72.08.

Rio Tinto Cuts Dividend

The business also recently declared 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 of this dividend was Friday, August 15th. This represents a yield of 620.0%. Rio Tinto's dividend payout ratio (DPR) is currently 45.74%.

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.

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