SSA Swiss Advisors AG Lowers Stock Holdings in Rio Tinto PLC $RIO

SSA Swiss Advisors AG trimmed its holdings in shares of Rio Tinto PLC (NYSE:RIO) by 6.2% in the 2nd quarter, Holdings Channel.com reports. The firm owned 48,382 shares of the mining company’s stock after selling 3,180 shares during the period. SSA Swiss Advisors AG’s holdings in Rio Tinto were worth $3,068,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in RIO. Auto Owners Insurance Co raised its holdings 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 last quarter. Kingstone Capital Partners Texas LLC purchased a new position in Rio Tinto in the 2nd quarter worth approximately $292,770,000. Dimensional Fund Advisors LP raised its holdings in Rio Tinto by 33.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,938,247 shares of the mining company’s stock worth $116,510,000 after acquiring an additional 490,357 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in Rio Tinto by 4.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 8,368,620 shares of the mining company’s stock worth $502,787,000 after acquiring an additional 326,661 shares during the last quarter. Finally, Pacific Heights Asset Management LLC raised its holdings in Rio Tinto by 300.0% in the 1st quarter. Pacific Heights Asset Management LLC now owns 300,000 shares of the mining company’s stock worth $18,024,000 after acquiring an additional 225,000 shares during the last quarter. 19.33% of the stock is currently owned by hedge funds and other institutional investors.

Rio Tinto Stock Down 0.0%

Shares of RIO stock opened at $70.59 on Friday. The stock has a market cap of $88.53 billion, a P/E ratio of 10.94, a PEG ratio of 5.61 and a beta of 0.66. Rio Tinto PLC has a 52 week low of $51.67 and a 52 week high of $71.24. The company has a quick ratio of 1.03, a current ratio of 1.53 and a debt-to-equity ratio of 0.37. The company’s fifty day simple moving average is $64.68 and its two-hundred day simple moving average is $61.42.

Rio Tinto Cuts Dividend

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

Analyst Ratings Changes

RIO has been the subject of a number of research analyst reports. Barclays reaffirmed an “overweight” rating on shares of Rio Tinto in a research report on Wednesday, July 2nd. Zacks Research raised shares of Rio Tinto from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 6th. Deutsche Bank Aktiengesellschaft downgraded shares of Rio Tinto from a “buy” rating to a “hold” rating in a research report on Wednesday, July 30th. Berenberg Bank reaffirmed a “hold” rating on shares of Rio Tinto in a research report on Thursday, July 3rd. Finally, Morgan Stanley reaffirmed an “overweight” rating on shares of Rio Tinto in a research report on Wednesday, October 8th. Three research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Rio Tinto presently has a consensus rating of “Moderate Buy” and a consensus 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.