Vanguard Capital Wealth Advisors Makes New $955,000 Investment in Rio Tinto PLC $RIO

Vanguard Capital Wealth Advisors purchased a new position in shares of Rio Tinto PLC (NYSE:RIO) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 11,932 shares of the mining company’s stock, valued at approximately $955,000. Rio Tinto comprises approximately 0.8% of Vanguard Capital Wealth Advisors’ portfolio, making the stock its 28th biggest holding.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. PFS Partners LLC bought a new position in Rio Tinto in the 4th quarter worth $28,000. Salomon & Ludwin LLC grew its holdings in Rio Tinto by 62.2% during the third quarter. Salomon & Ludwin LLC now owns 472 shares of the mining company’s stock valued at $31,000 after purchasing an additional 181 shares during the period. Root Financial Partners LLC purchased a new stake in Rio Tinto in the third quarter worth about $36,000. Triumph Capital Management purchased a new stake in Rio Tinto in the third quarter worth about $38,000. Finally, Strategic Advocates LLC bought a new position in shares of Rio Tinto in the third quarter worth about $44,000. 19.33% of the stock is currently owned by hedge funds and other institutional investors.

Rio Tinto Stock Down 0.4%

Shares of Rio Tinto stock opened at $94.46 on Friday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.98 and a current ratio of 1.44. The stock’s 50-day simple moving average is $93.23 and its 200-day simple moving average is $80.14. Rio Tinto PLC has a 52 week low of $51.67 and a 52 week high of $101.53.

Rio Tinto Dividend Announcement

The firm also recently announced a dividend, which will be paid on Thursday, April 16th. Investors of record on Friday, March 6th will be paid a dividend of $2.54 per share. This represents a yield of 564.0%. The ex-dividend date of this dividend is Friday, March 6th.

Wall Street Analyst Weigh In

RIO has been the topic of a number of analyst reports. Argus lifted their price objective on Rio Tinto from $70.00 to $85.00 and gave the company a “buy” rating in a research report on Thursday, December 11th. DZ Bank lowered shares of Rio Tinto from a “strong-buy” rating to a “hold” rating in a report on Friday, February 20th. Erste Group Bank upgraded shares of Rio Tinto from a “hold” rating to a “buy” rating in a research note on Friday, January 23rd. Barclays lowered shares of Rio Tinto from an “overweight” rating to an “equal weight” rating in a research report on Tuesday, February 24th. Finally, Zacks Research raised shares of Rio Tinto from a “hold” rating to a “strong-buy” rating in a research note on Monday, December 29th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and ten have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $81.00.

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.