CoreCommodity Management LLC raised its position in shares of Rio Tinto plc ADR (NYSE:RIO) by 3.3% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 44,245 shares of the mining company’s stock after buying an additional 1,431 shares during the quarter. Rio Tinto comprises about 1.8% of CoreCommodity Management LLC’s investment portfolio, making the stock its 11th largest holding. CoreCommodity Management LLC’s holdings in Rio Tinto were worth $2,145,000 at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in RIO. Semmax Financial Advisors Inc. acquired a new stake in shares of Rio Tinto during the 4th quarter worth approximately $412,000. Signet Financial Management LLC grew its stake in Rio Tinto by 2.2% in the 4th quarter. Signet Financial Management LLC now owns 20,407 shares of the mining company’s stock valued at $989,000 after acquiring an additional 447 shares during the period. RMB Capital Management LLC acquired a new stake in Rio Tinto in the 4th quarter valued at $1,039,000. Geode Capital Management LLC grew its stake in Rio Tinto by 12.5% in the 4th quarter. Geode Capital Management LLC now owns 30,207 shares of the mining company’s stock valued at $1,464,000 after acquiring an additional 3,366 shares during the period. Finally, Natixis Advisors L.P. grew its stake in Rio Tinto by 5.7% in the 4th quarter. Natixis Advisors L.P. now owns 320,419 shares of the mining company’s stock valued at $15,533,000 after acquiring an additional 17,272 shares during the period. 7.74% of the stock is owned by institutional investors and hedge funds.
Shares of RIO stock opened at $56.00 on Friday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.65 and a current ratio of 1.98. The firm has a market capitalization of $71.29 billion, a price-to-earnings ratio of 11.05 and a beta of 0.83. Rio Tinto plc ADR has a fifty-two week low of $44.62 and a fifty-two week high of $60.72.
The company also recently disclosed a semiannual dividend, which will be paid on Thursday, April 18th. Shareholders of record on Friday, March 8th will be issued a $1.806 dividend. The ex-dividend date is Thursday, March 7th. This represents a yield of 6.19%. This is a positive change from Rio Tinto’s previous semiannual dividend of $1.27. Rio Tinto’s dividend payout ratio (DPR) is presently 71.01%.
A number of research firms recently issued reports on RIO. Societe Generale cut shares of Rio Tinto from a “hold” rating to a “sell” rating and set a $55.23 price target on the stock. in a research note on Thursday, March 7th. UBS Group cut shares of Rio Tinto from a “buy” rating to a “neutral” rating in a research note on Wednesday, March 6th. HSBC cut shares of Rio Tinto from a “buy” rating to a “hold” rating in a research note on Friday, March 1st. Bank of America cut shares of Rio Tinto from a “neutral” rating to an “underperform” rating in a research note on Thursday, February 28th. Finally, Goldman Sachs Group cut shares of Rio Tinto from a “buy” rating to a “neutral” rating in a research note on Wednesday, February 27th. They noted that the move was a valuation call. Five analysts have rated the stock with a sell rating, twelve have assigned a hold rating and three have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $56.66.
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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, iron ore, thermal and metallurgical coal, and uranium, as well as industrial minerals, such as borates, titanium dioxide, and salt.
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