Rio Tinto PLC $RIO Stock Holdings Lowered by Union Bancaire Privee UBP SA

Union Bancaire Privee UBP SA reduced its holdings in Rio Tinto PLC (NYSE:RIO) by 11.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,150 shares of the mining company’s stock after selling 280 shares during the quarter. Union Bancaire Privee UBP SA’s holdings in Rio Tinto were worth $125,000 at the end of the most recent quarter.

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

Rio Tinto Stock Performance

Shares of RIO opened at $66.27 on Thursday. The company’s 50 day moving average price is $62.46 and its 200 day moving average price is $60.54. Rio Tinto PLC has a 52 week low of $51.67 and a 52 week high of $72.08. The company has a market capitalization of $83.12 billion, a PE ratio of 10.27, a PEG ratio of 4.74 and a beta of 0.66. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.03 and a current ratio of 1.53.

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 given a $1.48 dividend. This represents a yield of 620.0%. The ex-dividend date of this dividend was Friday, August 15th. Rio Tinto’s payout ratio is currently 45.74%.

Analyst Ratings Changes

A number of research firms have recently issued reports on RIO. Berenberg Bank restated 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. Barclays reaffirmed an “overweight” rating on shares of Rio Tinto in a research report on Wednesday, July 2nd. Finally, Morgan Stanley reaffirmed an “overweight” rating on shares of Rio Tinto in a research report on Monday, July 14th. Two 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 company. According to MarketBeat, Rio Tinto currently has an average rating of “Moderate Buy” and an average target price of $73.00.

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.