Oppenheimer Asset Management Inc. Has $9.14 Million Holdings in Rio Tinto PLC $RIO

Oppenheimer Asset Management Inc. increased its stake in Rio Tinto PLC (NYSE:RIO) by 36.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 114,260 shares of the mining company’s stock after buying an additional 30,254 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Rio Tinto were worth $9,144,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the stock. PFS Partners LLC acquired a new position in shares of Rio Tinto during the 4th quarter worth about $28,000. Nvest Wealth Strategies Inc. acquired a new stake in Rio Tinto in the 4th quarter valued at about $28,000. Trust Co. of Toledo NA OH bought a new position in Rio Tinto during the fourth quarter worth about $34,000. Migdal Insurance & Financial Holdings Ltd. bought a new position in Rio Tinto during the fourth quarter worth about $37,000. Finally, Salomon & Ludwin LLC increased its position in Rio Tinto by 62.2% during the third quarter. Salomon & Ludwin LLC now owns 472 shares of the mining company’s stock worth $31,000 after buying an additional 181 shares during the last quarter. Institutional investors and hedge funds own 19.33% of the company’s stock.

Rio Tinto Price Performance

Shares of RIO opened at $100.61 on Friday. Rio Tinto PLC has a 52-week low of $55.64 and a 52-week high of $101.53. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.44 and a quick ratio of 0.98. The business’s 50 day moving average price is $94.47 and its two-hundred day moving average price is $84.76.

Rio Tinto Dividend Announcement

The business also recently declared a dividend, which was paid on Thursday, April 16th. Shareholders of record on Friday, March 6th were issued a $2.54 dividend. This represents a yield of 564.0%. The ex-dividend date was Friday, March 6th.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Citigroup reissued a “neutral” rating on shares of Rio Tinto in a research report on Monday, April 13th. DZ Bank lowered shares of Rio Tinto from a “strong-buy” rating to a “hold” rating in a research note on Friday, February 20th. Argus set a $120.00 price target on shares of Rio Tinto in a research note on Monday. HSBC lowered shares of Rio Tinto from a “buy” rating to a “hold” rating in a research note on Monday, January 26th. Finally, Morgan Stanley lowered shares of Rio Tinto from an “overweight” rating to an “equal weight” rating in a research report on Wednesday, January 28th. Four equities research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $101.75.

Rio Tinto Profile

Rio Tinto is a global mining and metals company that explores for, mines, processes and markets a wide range of commodities. Its principal products include iron ore, aluminum, copper, diamonds and various other minerals and industrial materials. The company’s activities span the full value chain from exploration and project development to mining, processing, smelting and refining, supplying raw materials to industries such as steelmaking, automotive, packaging, electronics and construction.

The origins of Rio Tinto date back to mining operations in the Rio Tinto region of Spain in the 19th century, and the group has since grown into a multinational enterprise.