US Bancorp DE Buys 8,670 Shares of Rio Tinto plc (RIO)

US Bancorp DE grew its stake in Rio Tinto plc (NYSE:RIO) by 52.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 25,304 shares of the mining company’s stock after purchasing an additional 8,670 shares during the quarter. US Bancorp DE’s holdings in Rio Tinto were worth $1,340,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Dynamic Technology Lab Private Ltd lifted its holdings in shares of Rio Tinto by 18.8% in the second quarter. Dynamic Technology Lab Private Ltd now owns 9,500 shares of the mining company’s stock valued at $402,000 after purchasing an additional 1,503 shares in the last quarter. Russell Investments Group Ltd. lifted its holdings in shares of Rio Tinto by 124.2% in the third quarter. Russell Investments Group Ltd. now owns 1,092,553 shares of the mining company’s stock valued at $51,543,000 after purchasing an additional 605,170 shares in the last quarter. Private Advisor Group LLC lifted its holdings in shares of Rio Tinto by 23.5% in the third quarter. Private Advisor Group LLC now owns 15,436 shares of the mining company’s stock valued at $740,000 after purchasing an additional 2,936 shares in the last quarter. AlphaStar Capital Management LLC bought a new position in shares of Rio Tinto in the third quarter valued at approximately $288,000. Finally, Raymond James Financial Services Advisors Inc. lifted its holdings in shares of Rio Tinto by 9.1% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 46,877 shares of the mining company’s stock valued at $2,212,000 after purchasing an additional 3,910 shares in the last quarter. Institutional investors own 7.15% of the company’s stock.

RIO has been the topic of a number of recent analyst reports. Jefferies Group set a $69.00 price target on Rio Tinto and gave the stock a “buy” rating in a report on Thursday, February 15th. Argus lifted their price target on Rio Tinto to $61.00 and gave the stock a “buy” rating in a report on Wednesday, February 14th. Societe Generale upgraded Rio Tinto from a “hold” rating to a “buy” rating in a report on Wednesday, November 8th. Citigroup reiterated a “buy” rating on shares of Rio Tinto in a report on Tuesday, December 5th. Finally, Zacks Investment Research upgraded Rio Tinto from a “hold” rating to a “buy” rating and set a $56.00 price target on the stock in a report on Wednesday, December 20th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have assigned a buy rating to the company’s stock. Rio Tinto currently has a consensus rating of “Hold” and an average target price of $59.07.

Shares of Rio Tinto plc (NYSE:RIO) opened at $57.82 on Tuesday. The company has a current ratio of 1.71, a quick ratio of 1.40 and a debt-to-equity ratio of 0.30. Rio Tinto plc has a one year low of $37.66 and a one year high of $59.25.

The company also recently announced a semiannual dividend, which will be paid on Thursday, April 12th. Shareholders of record on Friday, March 2nd will be paid a $1.7955 dividend. The ex-dividend date of this dividend is Thursday, March 1st. This is a positive change from Rio Tinto’s previous semiannual dividend of $1.26. This represents a dividend yield of 6.68%.

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About Rio Tinto

Rio Tinto plc is a mining and metals company. The Company’s business is finding, mining and processing mineral resources. The Company’s segments include Iron Ore, Aluminium, Copper & Diamonds, Energy & Minerals and Other Operations. The Company operates an iron ore business, supplying the global seaborne iron ore trade.

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

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