World Investment Advisors Grows Holdings in Rio Tinto PLC $RIO

World Investment Advisors lifted its stake in shares of Rio Tinto PLC (NYSE:RIO) by 104.8% during the 4th quarter, HoldingsChannel reports. The fund owned 15,075 shares of the mining company’s stock after acquiring an additional 7,714 shares during the period. World Investment Advisors’ holdings in Rio Tinto were worth $1,206,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of RIO. PFS Partners LLC purchased a new position in shares of Rio Tinto during the 4th quarter worth about $28,000. Nvest Wealth Strategies Inc. purchased a new position in shares of Rio Tinto during the 4th quarter worth about $28,000. Trust Co. of Toledo NA OH purchased a new position in shares of Rio Tinto during the 4th quarter worth about $34,000. Root Financial Partners LLC purchased a new position in shares of Rio Tinto during the 3rd quarter worth about $36,000. Finally, Migdal Insurance & Financial Holdings Ltd. purchased a new position in shares of Rio Tinto during the 4th quarter worth about $37,000. 19.33% of the stock is currently owned by hedge funds and other institutional investors.

Rio Tinto Trading Down 0.1%

NYSE RIO opened at $103.63 on Monday. Rio Tinto PLC has a one year low of $55.64 and a one year high of $112.58. The company’s 50 day moving average price is $95.95 and its 200 day moving average price is $87.33. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.98 and a current ratio of 1.44.

Rio Tinto Announces Dividend

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

Analyst Upgrades and Downgrades

RIO has been the topic of several recent analyst reports. Sanford C. Bernstein increased their price objective on shares of Rio Tinto from $82.00 to $83.50 and gave the stock an “outperform” rating in a report on Monday, April 27th. Deutsche Bank Aktiengesellschaft restated a “hold” rating on shares of Rio Tinto in a report on Friday. Barclays lowered shares of Rio Tinto from an “overweight” rating to an “equal weight” rating in a report on Tuesday, February 24th. Morgan Stanley lowered shares of Rio Tinto from an “overweight” rating to an “equal weight” rating in a report on Wednesday, January 28th. Finally, Erste Group Bank upgraded shares of Rio Tinto from a “hold” rating to a “buy” rating in a report on Friday, January 23rd. Four research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target 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.