R Squared Ltd Invests $596,000 in Rio Tinto PLC $RIO

R Squared Ltd purchased a new position in shares of Rio Tinto PLC (NYSE:RIOFree Report) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 9,035 shares of the mining company’s stock, valued at approximately $596,000.

Several other institutional investors also recently bought and sold shares of RIO. Salomon & Ludwin LLC raised its holdings in shares of Rio Tinto by 62.2% during the third quarter. Salomon & Ludwin LLC now owns 472 shares of the mining company’s stock valued at $31,000 after acquiring an additional 181 shares during the last quarter. Root Financial Partners LLC acquired a new position in Rio Tinto in the 3rd quarter valued at $36,000. Pinpoint Asset Management Singapore Pte. Ltd. acquired a new position in Rio Tinto in the 2nd quarter valued at $38,000. MTM Investment Management LLC purchased a new position in Rio Tinto in the 2nd quarter valued at $43,000. Finally, Wealth Preservation Advisors LLC acquired a new stake in Rio Tinto during the 2nd quarter worth $53,000. 19.33% of the stock is currently owned by institutional investors and hedge funds.

Key Rio Tinto News

Here are the key news stories impacting Rio Tinto this week:

Rio Tinto Stock Performance

Rio Tinto stock opened at $99.30 on Friday. The firm has a 50 day simple moving average of $89.84 and a 200-day simple moving average of $75.47. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.44 and a quick ratio of 0.98. Rio Tinto PLC has a 1-year low of $51.67 and a 1-year high of $101.53.

Rio Tinto Dividend Announcement

The firm also recently announced a dividend, which will be paid on Thursday, April 16th. Shareholders of record on Friday, March 6th will be paid a dividend of $2.54 per share. The ex-dividend date of this dividend is Friday, March 6th. This represents a yield of 527.0%.

Analyst Ratings Changes

A number of brokerages have recently commented on RIO. Citigroup upgraded shares of Rio Tinto to a “hold” rating in a research report on Tuesday, February 10th. DZ Bank lowered shares of Rio Tinto from a “strong-buy” rating to a “hold” rating in a research note on Friday, February 20th. Zacks Research upgraded Rio Tinto from a “hold” rating to a “strong-buy” rating in a report on Monday, December 29th. Erste Group Bank raised Rio Tinto from a “hold” rating to a “buy” rating in a report on Friday, January 23rd. Finally, Barclays downgraded Rio Tinto from an “overweight” rating to an “equal weight” rating in a research report on Tuesday. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and nine have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Rio Tinto currently has an average rating of “Hold” and a consensus target price of $85.00.

Read Our Latest Stock Analysis on RIO

Rio Tinto Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Rio Tinto (NYSE:RIO)

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