Rio Tinto PLC $RIO Shares Sold by Trust Investment Advisors

Trust Investment Advisors trimmed its position in Rio Tinto PLC (NYSE:RIO) by 3.5% in the second quarter, Holdings Channel reports. The firm owned 36,444 shares of the mining company’s stock after selling 1,318 shares during the quarter. Rio Tinto accounts for 1.3% of Trust Investment Advisors’ holdings, making the stock its 17th biggest holding. Trust Investment Advisors’ holdings in Rio Tinto were worth $2,126,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of RIO. Purkiss Capital Advisors LLC bought a new position in Rio Tinto during the 2nd quarter worth approximately $202,000. May Hill Capital LLC bought a new stake in shares of Rio Tinto in the 2nd quarter valued at approximately $208,000. Shilanski & Associates Inc. raised its position in shares of Rio Tinto by 2.8% during the 2nd quarter. Shilanski & Associates Inc. now owns 61,529 shares of the mining company’s stock valued at $3,589,000 after acquiring an additional 1,676 shares in the last quarter. Y Intercept Hong Kong Ltd bought a new position in Rio Tinto during the second quarter worth $1,573,000. Finally, Envestnet Asset Management Inc. boosted its holdings in Rio Tinto by 2.6% in the second quarter. Envestnet Asset Management Inc. now owns 525,680 shares of the mining company’s stock worth $30,663,000 after purchasing an additional 13,279 shares during the period. 19.33% of the stock is owned by institutional investors.

Rio Tinto Stock Up 0.6%

Rio Tinto stock opened at $70.99 on Tuesday. Rio Tinto PLC has a 52-week low of $51.67 and a 52-week high of $71.42. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.53 and a quick ratio of 1.03. The firm has a 50-day moving average price of $64.89 and a two-hundred day moving average price of $61.63.

Rio Tinto Cuts Dividend

The firm also recently disclosed a semi-annual dividend, which was paid on Thursday, September 25th. Investors of record on Friday, August 15th were issued a $1.48 dividend. This represents a yield of 620.0%. The ex-dividend date of this dividend was Friday, August 15th.

Wall Street Analyst Weigh In

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