Rio Tinto PLC $RIO Shares Sold by Burford Brothers Inc.

Burford Brothers Inc. lowered its position in shares of Rio Tinto PLC (NYSE:RIO) by 7.7% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 17,318 shares of the mining company’s stock after selling 1,453 shares during the quarter. Burford Brothers Inc.’s holdings in Rio Tinto were worth $1,010,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. Amundi increased its stake in Rio Tinto by 224.0% in the 1st quarter. Amundi now owns 230,891 shares of the mining company’s stock worth $13,491,000 after purchasing an additional 159,636 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in shares of Rio Tinto in the first quarter worth approximately $357,000. Acadian Asset Management LLC raised its holdings in shares of Rio Tinto by 37.9% during the first quarter. Acadian Asset Management LLC now owns 57,595 shares of the mining company’s stock valued at $3,458,000 after acquiring an additional 15,839 shares during the period. Central Valley Advisors LLC purchased a new stake in shares of Rio Tinto in the 2nd quarter valued at approximately $1,530,000. Finally, Bessemer Group Inc. boosted its stake in Rio Tinto by 61.8% in the 1st quarter. Bessemer Group Inc. now owns 5,195 shares of the mining company’s stock worth $312,000 after purchasing an additional 1,985 shares during the period. 19.33% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

RIO has been the subject of several recent analyst reports. Berenberg Bank reaffirmed a “hold” rating on shares of Rio Tinto in a research report on Thursday, July 3rd. Barclays reaffirmed an “overweight” rating on shares of Rio Tinto in a research note on Wednesday, July 2nd. Weiss Ratings reissued a “hold (c)” rating on shares of Rio Tinto in a research report on Wednesday, October 8th. Morgan Stanley reaffirmed an “overweight” rating on shares of Rio Tinto in a research report on Wednesday, October 8th. Finally, Deutsche Bank Aktiengesellschaft lowered shares of Rio Tinto from a “buy” rating to a “hold” rating in a research note on Wednesday, July 30th. Three investment analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $73.00.

Rio Tinto Stock Down 0.9%

Shares of RIO opened at $68.12 on Friday. The company has a market capitalization of $85.43 billion, a P/E ratio of 10.56, a PEG ratio of 5.44 and a beta of 0.66. Rio Tinto PLC has a one year low of $51.67 and a one year high of $69.30. The business’s 50 day simple moving average is $63.95 and its 200-day simple moving average is $60.95. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.53 and a quick ratio of 1.03.

Rio Tinto Cuts Dividend

The firm also recently disclosed a semi-annual dividend, which was paid on Thursday, September 25th. Stockholders of record on Friday, August 15th were issued a dividend of $1.48 per share. This represents a dividend yield of 620.0%. The ex-dividend date was Friday, August 15th. Rio Tinto’s payout ratio is 45.74%.

Rio Tinto Company Profile

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.