Rio Tinto PLC $RIO Shares Acquired by World Investment Advisors

World Investment Advisors lifted its stake in shares of Rio Tinto PLC (NYSE:RIO) by 104.8% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 15,075 shares of the mining company’s stock after purchasing an additional 7,714 shares during the quarter. World Investment Advisors’ holdings in Rio Tinto were worth $1,206,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Cubist Systematic Strategies LLC acquired a new stake in Rio Tinto in the 1st quarter valued at about $84,000. AQR Capital Management LLC grew its stake in Rio Tinto by 78.4% in the 1st quarter. AQR Capital Management LLC now owns 12,087 shares of the mining company’s stock valued at $726,000 after acquiring an additional 5,310 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Rio Tinto by 20.7% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 11,485 shares of the mining company’s stock valued at $690,000 after acquiring an additional 1,968 shares during the last quarter. Empowered Funds LLC grew its stake in Rio Tinto by 5.8% in the 1st quarter. Empowered Funds LLC now owns 5,280 shares of the mining company’s stock valued at $317,000 after acquiring an additional 288 shares during the last quarter. Finally, Focus Partners Wealth grew its stake in Rio Tinto by 16.7% in the 1st quarter. Focus Partners Wealth now owns 15,985 shares of the mining company’s stock valued at $962,000 after acquiring an additional 2,285 shares during the last quarter. 19.33% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts recently commented on RIO shares. DZ Bank cut shares of Rio Tinto from a “strong-buy” rating to a “hold” rating in a research note on Friday, February 20th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating on shares of Rio Tinto in a research note on Friday. Weiss Ratings raised shares of Rio Tinto from a “hold (c)” rating to a “buy (b-)” rating in a research note on Friday, February 20th. Citigroup reissued a “neutral” rating on shares of Rio Tinto in a research note on Monday, April 13th. Finally, Barclays cut shares of Rio Tinto from an “overweight” rating to an “equal weight” rating in a research note on Tuesday, February 24th. Four investment analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company’s stock. According to MarketBeat.com, Rio Tinto currently has a consensus rating of “Hold” and a consensus price target of $101.75.

Rio Tinto Stock Down 0.1%

NYSE:RIO opened at $103.63 on Monday. 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 company’s 50-day moving average is $95.95 and its two-hundred day moving average is $87.33. Rio Tinto PLC has a 12-month low of $55.64 and a 12-month high of $112.58.

Rio Tinto Dividend Announcement

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

Rio Tinto Company 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.