Prime Capital Investment Advisors LLC Raises Stock Holdings in Rio Tinto PLC $RIO

Prime Capital Investment Advisors LLC lifted its stake in shares of Rio Tinto PLC (NYSE:RIO) by 4.1% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 26,843 shares of the mining company’s stock after acquiring an additional 1,057 shares during the period. Prime Capital Investment Advisors LLC’s holdings in Rio Tinto were worth $1,566,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in RIO. Goldman Sachs Group Inc. grew its holdings in shares of Rio Tinto by 4.1% during the first quarter. Goldman Sachs Group Inc. now owns 8,368,620 shares of the mining company’s stock worth $502,787,000 after buying an additional 326,661 shares in the last quarter. Auto Owners Insurance Co grew its stake in Rio Tinto by 77,150.0% in 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. Kingstone Capital Partners Texas LLC acquired a new position in Rio Tinto in the 2nd quarter valued at $292,770,000. Dimensional Fund Advisors LP lifted its stake in shares of 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 purchasing an additional 490,357 shares during the period. Finally, Northern Trust Corp lifted its stake in shares of Rio Tinto by 3.8% during the 1st quarter. Northern Trust Corp now owns 1,663,964 shares of the mining company’s stock worth $99,971,000 after purchasing an additional 60,927 shares during the period. Institutional investors and hedge funds own 19.33% of the company’s stock.

Rio Tinto Stock Up 2.1%

Shares of Rio Tinto stock opened at $67.66 on Thursday. Rio Tinto PLC has a twelve month low of $51.67 and a twelve month high of $68.18. The stock has a market cap of $84.86 billion, a price-to-earnings ratio of 10.49, a price-to-earnings-growth ratio of 4.65 and a beta of 0.66. 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 company has a fifty day moving average price of $62.90 and a 200 day moving average price of $60.65.

Rio Tinto Cuts Dividend

The business also recently announced a semi-annual dividend, which was paid on Thursday, September 25th. Investors 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 was Friday, August 15th. Rio Tinto’s dividend payout ratio (DPR) is presently 45.74%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on RIO. Berenberg Bank reaffirmed a “hold” rating on shares of Rio Tinto in a research report on Thursday, July 3rd. Deutsche Bank Aktiengesellschaft cut Rio Tinto from a “buy” rating to a “hold” rating in a report on Wednesday, July 30th. Morgan Stanley reiterated an “overweight” rating on shares of Rio Tinto in a report on Wednesday. Barclays restated an “overweight” rating on shares of Rio Tinto in a report on Wednesday, July 2nd. Finally, Zacks Research raised shares of Rio Tinto from a “hold” rating to a “strong-buy” rating in a research note on Monday. Three equities research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target 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.