Stratos Wealth Advisors LLC Makes New Investment in Rio Tinto PLC $RIO

Stratos Wealth Advisors LLC bought a new position in Rio Tinto PLC (NYSE:RIO) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 12,307 shares of the mining company’s stock, valued at approximately $718,000.

Several other hedge funds and other institutional investors also recently modified their holdings of RIO. GAMMA Investing LLC increased its position in shares of Rio Tinto by 36.8% in the 1st quarter. GAMMA Investing LLC now owns 2,546 shares of the mining company’s stock worth $153,000 after purchasing an additional 685 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its position in shares of Rio Tinto by 3.7% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 98,686 shares of the mining company’s stock worth $5,929,000 after purchasing an additional 3,481 shares during the last quarter. Johnson Investment Counsel Inc. increased its position in shares of Rio Tinto by 10.4% in the 1st quarter. Johnson Investment Counsel Inc. now owns 19,410 shares of the mining company’s stock worth $1,166,000 after purchasing an additional 1,830 shares during the last quarter. Avior Wealth Management LLC increased its position in shares of Rio Tinto by 43.2% in the 1st quarter. Avior Wealth Management LLC now owns 8,205 shares of the mining company’s stock worth $493,000 after purchasing an additional 2,476 shares during the last quarter. Finally, PFG Investments LLC increased its position in shares of Rio Tinto by 30.6% in the 1st quarter. PFG Investments LLC now owns 5,479 shares of the mining company’s stock worth $329,000 after purchasing an additional 1,285 shares during the last quarter. Institutional investors own 19.33% of the company’s stock.

Rio Tinto Trading Down 0.9%

NYSE RIO opened at $68.12 on Monday. Rio Tinto PLC has a one year low of $51.67 and a one year high of $69.30. The company has a 50-day simple moving average of $63.95 and a 200-day simple moving average of $60.97. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.03 and a current ratio of 1.53. The firm has a market capitalization of $85.43 billion, a PE ratio of 10.56, a price-to-earnings-growth ratio of 5.44 and a beta of 0.66.

Rio Tinto Cuts Dividend

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

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. Berenberg Bank reissued a “hold” rating on shares of Rio Tinto in a research report on Thursday, July 3rd. Morgan Stanley reissued an “overweight” rating on shares of Rio Tinto in a research report on Wednesday, October 8th. Zacks Research raised shares of Rio Tinto from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 6th. Barclays reaffirmed an “overweight” rating on shares of Rio Tinto in a report on Wednesday, July 2nd. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Rio Tinto in a report on Wednesday, October 8th. Three research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $73.00.

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.