L & S Advisors Inc Makes New $7.77 Million Investment in Rio Tinto PLC $RIO

L & S Advisors Inc acquired a new position in shares of Rio Tinto PLC (NYSE:RIO) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 97,141 shares of the mining company’s stock, valued at approximately $7,774,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in RIO. Cubist Systematic Strategies LLC purchased a new position in Rio Tinto during the 1st quarter worth approximately $84,000. AQR Capital Management LLC grew its position in Rio Tinto by 78.4% during the 1st quarter. AQR Capital Management LLC now owns 12,087 shares of the mining company’s stock worth $726,000 after purchasing an additional 5,310 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Rio Tinto by 20.7% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 11,485 shares of the mining company’s stock worth $690,000 after purchasing an additional 1,968 shares in the last quarter. Empowered Funds LLC grew its position in Rio Tinto by 5.8% during the 1st quarter. Empowered Funds LLC now owns 5,280 shares of the mining company’s stock worth $317,000 after purchasing an additional 288 shares in the last quarter. Finally, Focus Partners Wealth grew its position in Rio Tinto by 16.7% during the 1st quarter. Focus Partners Wealth now owns 15,985 shares of the mining company’s stock worth $962,000 after purchasing an additional 2,285 shares in the last quarter. 19.33% of the stock is currently owned by hedge funds and other institutional investors.

Rio Tinto Stock Down 5.4%

Rio Tinto stock opened at $103.63 on Friday. The company’s fifty day simple moving average is $95.95 and its 200-day simple moving average is $87.22. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.98 and a current ratio of 1.44. Rio Tinto PLC has a 12 month low of $55.64 and a 12 month high of $112.58.

Rio Tinto Announces Dividend

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

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on RIO shares. Royal Bank Of Canada reiterated a “sector perform” rating on shares of Rio Tinto in a research report on Thursday, January 22nd. JPMorgan Chase & Co. cut shares of Rio Tinto from an “overweight” rating to a “neutral” rating in a research report on Monday, March 9th. HSBC cut shares of Rio Tinto from a “buy” rating to a “hold” rating in a research report on Monday, January 26th. Barclays cut shares of Rio Tinto from an “overweight” rating to an “equal weight” rating in a research report on Tuesday, February 24th. Finally, Citigroup restated a “neutral” rating on shares of Rio Tinto in a report on Monday, April 13th. Four equities research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $101.75.

About Rio Tinto

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.