Mutual Advisors LLC Acquires 658 Shares of Rio Tinto PLC $RIO

Mutual Advisors LLC boosted its holdings in Rio Tinto PLC (NYSE:RIO) by 8.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 8,328 shares of the mining company’s stock after purchasing an additional 658 shares during the period. Mutual Advisors LLC’s holdings in Rio Tinto were worth $526,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in RIO. Auto Owners Insurance Co lifted its stake in Rio Tinto by 77,150.0% in the first quarter. Auto Owners Insurance Co now owns 7,416,000 shares of the mining company’s stock worth $445,553,000 after purchasing an additional 7,406,400 shares during the last quarter. Kingstone Capital Partners Texas LLC purchased a new position in shares of Rio Tinto in the second quarter valued at about $292,770,000. Dimensional Fund Advisors LP increased its position in shares of Rio Tinto by 33.9% in the first quarter. Dimensional Fund Advisors LP now owns 1,938,247 shares of the mining company’s stock valued at $116,510,000 after acquiring an additional 490,357 shares during the period. Goldman Sachs Group Inc. increased its position in shares of Rio Tinto by 4.1% in the first quarter. Goldman Sachs Group Inc. now owns 8,368,620 shares of the mining company’s stock valued at $502,787,000 after acquiring an additional 326,661 shares during the period. Finally, Pacific Heights Asset Management LLC increased its position in shares of Rio Tinto by 300.0% in the first quarter. Pacific Heights Asset Management LLC now owns 300,000 shares of the mining company’s stock valued at $18,024,000 after acquiring an additional 225,000 shares during the period. 19.33% of the stock is owned by institutional investors.

Rio Tinto Price Performance

Shares of NYSE RIO opened at $68.12 on Monday. Rio Tinto PLC has a 1 year low of $51.67 and a 1 year high of $69.30. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.53 and a quick ratio of 1.03. The company’s 50-day moving average is $63.95 and its 200 day moving average is $60.97. The stock has a market capitalization of $85.43 billion, a P/E ratio of 10.56, a P/E/G ratio of 5.44 and a beta of 0.66.

Rio Tinto Cuts Dividend

The firm also recently disclosed a semi-annual dividend, which was paid on Thursday, September 25th. Investors 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 payout ratio is presently 45.74%.

Analysts Set New Price Targets

RIO has been the topic of a number of analyst reports. Weiss Ratings restated a “hold (c)” rating on shares of Rio Tinto in a research report on Wednesday, October 8th. Berenberg Bank restated a “hold” rating on shares of Rio Tinto in a research report on Thursday, July 3rd. Deutsche Bank Aktiengesellschaft cut shares of Rio Tinto from a “buy” rating to a “hold” rating in a research report on Wednesday, July 30th. Morgan Stanley restated an “overweight” rating on shares of Rio Tinto in a research report on Wednesday, October 8th. Finally, Barclays restated an “overweight” rating on shares of Rio Tinto in a research report on Wednesday, July 2nd. Three research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $73.00.

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.