BLB&B Advisors LLC increased its position in Rio Tinto plc ADR (NYSE:RIO) by 175.0% in the third quarter, Holdings Channel reports. The institutional investor owned 31,246 shares of the mining company’s stock after buying an additional 19,885 shares during the quarter. BLB&B Advisors LLC’s holdings in Rio Tinto were worth $1,594,000 at the end of the most recent reporting period.
Other large investors have also recently added to or reduced their stakes in the company. Naples Global Advisors LLC lifted its position in Rio Tinto by 8.4% in the 2nd quarter. Naples Global Advisors LLC now owns 47,545 shares of the mining company’s stock worth $2,638,000 after buying an additional 3,700 shares during the last quarter. Boston Partners lifted its position in Rio Tinto by 2,390.4% in the 2nd quarter. Boston Partners now owns 3,204,017 shares of the mining company’s stock worth $177,759,000 after buying an additional 3,075,360 shares during the last quarter. Baird Financial Group Inc. lifted its position in Rio Tinto by 11.3% in the 2nd quarter. Baird Financial Group Inc. now owns 115,456 shares of the mining company’s stock worth $6,405,000 after buying an additional 11,742 shares during the last quarter. Liberty Mutual Group Asset Management Inc. lifted its position in Rio Tinto by 54.8% in the 2nd quarter. Liberty Mutual Group Asset Management Inc. now owns 21,984 shares of the mining company’s stock worth $1,220,000 after buying an additional 7,784 shares during the last quarter. Finally, Landmark Bank bought a new stake in Rio Tinto in the 2nd quarter worth approximately $1,291,000. Institutional investors own 7.12% of the company’s stock.
Shares of RIO stock opened at $49.19 on Friday. The company has a quick ratio of 1.41, a current ratio of 1.77 and a debt-to-equity ratio of 0.27. Rio Tinto plc ADR has a fifty-two week low of $45.62 and a fifty-two week high of $60.72. The company has a market capitalization of $67.37 billion, a price-to-earnings ratio of 10.33 and a beta of 1.08.
The business also recently disclosed a semiannual dividend, which was paid on Thursday, September 20th. Shareholders of record on Friday, August 10th were given a $1.271 dividend. The ex-dividend date of this dividend was Thursday, August 9th. This represents a yield of 4.9%. Rio Tinto’s payout ratio is currently 53.03%.
A number of analysts recently weighed in on the company. ValuEngine downgraded Rio Tinto from a “hold” rating to a “sell” rating in a research report on Monday, October 8th. Deutsche Bank restated a “neutral” rating on shares of Rio Tinto in a research report on Monday, July 16th. Zacks Investment Research upgraded Rio Tinto from a “sell” rating to a “buy” rating and set a $64.00 target price for the company in a research report on Wednesday, June 20th. HSBC upgraded Rio Tinto from a “hold” rating to a “buy” rating in a research report on Thursday, June 21st. Finally, Jefferies Financial Group set a $67.00 target price on Rio Tinto and gave the stock a “buy” rating in a research report on Wednesday, August 1st. Four equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $57.06.
About Rio Tinto
Rio Tinto plc, a mining and metals company, explores for, develops, produces, and processes minerals and metals worldwide. It finds, mines, and processes mineral resources, including aluminum, copper, diamonds, gold, industrial minerals (borates, titanium dioxide, and salt), iron ore, thermal and metallurgical coal, and uranium, as well as sulphuric acid, rhenium, lead carbonate, and selenium.
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