Eagle Strategies LLC Sells 844 Shares of Rio Tinto PLC $RIO

Eagle Strategies LLC reduced its position in shares of Rio Tinto PLC (NYSE:RIO) by 16.4% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 4,291 shares of the mining company’s stock after selling 844 shares during the quarter. Eagle Strategies LLC’s holdings in Rio Tinto were worth $250,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Amundi lifted its position in shares of Rio Tinto by 224.0% during the 1st quarter. Amundi now owns 230,891 shares of the mining company’s stock valued at $13,491,000 after buying an additional 159,636 shares in the last quarter. Farther Finance Advisors LLC lifted its position in shares of Rio Tinto by 24.2% during the 1st quarter. Farther Finance Advisors LLC now owns 4,023 shares of the mining company’s stock valued at $242,000 after buying 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 valued at about $357,000. Acadian Asset Management LLC lifted its position in shares of Rio Tinto by 37.9% during 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 in the last quarter. Finally, Merit Financial Group LLC purchased a new position in shares of Rio Tinto during the 1st quarter valued at about $251,000. 19.33% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on RIO. Zacks Research raised Rio Tinto from a “hold” rating to a “strong-buy” rating in a research report on Monday. Morgan Stanley reaffirmed an “overweight” rating on shares of Rio Tinto in a research report on Wednesday. Deutsche Bank Aktiengesellschaft cut Rio Tinto from a “buy” rating to a “hold” rating in a research report on Wednesday, July 30th. Barclays reaffirmed an “overweight” rating on shares of Rio Tinto in a research report on Wednesday, July 2nd. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Rio Tinto in a report on Wednesday. Three analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $73.00.

Rio Tinto Stock Down 1.0%

NYSE RIO opened at $67.00 on Friday. The stock’s 50 day moving average is $63.04 and its 200 day moving average is $60.69. 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 stock has a market cap of $84.03 billion, a PE ratio of 10.39, a P/E/G ratio of 4.75 and a beta of 0.66.

Rio Tinto Cuts Dividend

The firm also recently declared a semi-annual dividend, which was paid on Thursday, September 25th. Investors of record on Friday, August 15th were issued a $1.48 dividend. The ex-dividend date of this dividend was Friday, August 15th. This represents a yield of 620.0%. Rio Tinto’s payout ratio 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.