Vident Advisory LLC Acquires 5,872 Shares of Rio Tinto PLC $RIO

Key Points

• Vident Advisory LLC increased its stake in Rio Tinto PLC by 37.7% during the first quarter, raising its holdings to 21,453 shares worth $1.29 million.
• Rio Tinto recently declared a semi-annual dividend of $1.48, which will be paid on September 25th, with an ex-dividend date of August 15th, representing a significant dividend yield of 620.0%.
• Analyst ratings for Rio Tinto show a mix, with two analysts rating it as a Strong Buy, three as Buy, and four as Hold, leading to an average rating of Moderate Buy with a price target of $73.00.

Vident Advisory LLC boosted its position in shares of Rio Tinto PLC (NYSE:RIO - Free Report) by 37.7% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 21,453 shares of the mining company's stock after acquiring an additional 5,872 shares during the period. Vident Advisory LLC's holdings in Rio Tinto were worth $1,289,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in RIO. Auto Owners Insurance Co raised its stake 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 acquiring an additional 7,406,400 shares during the period. Deutsche Bank AG raised its stake 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 acquiring an additional 1,263,203 shares during the period. Dimensional Fund Advisors LP raised its stake in Rio Tinto by 33.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,938,247 shares of the mining company's stock worth $116,510,000 after acquiring an additional 490,357 shares during the period. Ameriprise Financial Inc. raised its stake in Rio Tinto by 169.4% during the 4th quarter. Ameriprise Financial Inc. now owns 619,494 shares of the mining company's stock worth $36,428,000 after acquiring an additional 389,531 shares during the period. Finally, Goldman Sachs Group Inc. raised its stake in Rio Tinto by 4.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 8,368,620 shares of the mining company's stock worth $502,787,000 after acquiring an additional 326,661 shares during the period. Institutional investors own 19.33% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Jefferies Financial Group reaffirmed a "hold" rating on shares of Rio Tinto in a report on Tuesday, June 3rd. Berenberg Bank reaffirmed a "hold" rating on shares of Rio Tinto in a report on Thursday, July 3rd. Deutsche Bank Aktiengesellschaft lowered shares of Rio Tinto from a "buy" rating to a "hold" rating in a report on Wednesday, July 30th. Morgan Stanley reaffirmed an "overweight" rating on shares of Rio Tinto in a report on Monday, July 14th. Finally, Barclays reaffirmed an "overweight" rating on shares of Rio Tinto in a report on Wednesday, July 2nd. Two equities research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $73.00.

Rio Tinto Price Performance

RIO traded up $1.47 during trading on Friday, reaching $63.93. The company had a trading volume of 3,215,339 shares, compared to its average volume of 2,390,944. The business has a 50 day simple moving average of $61.14 and a 200-day simple moving average of $60.36. Rio Tinto PLC has a 52 week low of $51.67 and a 52 week high of $72.08. The company has a quick ratio of 1.03, a current ratio of 1.53 and a debt-to-equity ratio of 0.37.

Rio Tinto Cuts Dividend

The business also recently declared a semi-annual dividend, which will be paid on Thursday, September 25th. Investors of record on Friday, August 15th will be given a $1.48 dividend. The ex-dividend date is Friday, August 15th. This represents a yield of 620.0%. Rio Tinto's dividend payout ratio (DPR) 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.