Rio Tinto PLC $RIO Shares Bought by RWA Wealth Partners LLC

RWA Wealth Partners LLC raised its stake in Rio Tinto PLC (NYSE:RIO) by 16.1% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 57,389 shares of the mining company’s stock after acquiring an additional 7,963 shares during the period. RWA Wealth Partners LLC’s holdings in Rio Tinto were worth $3,448,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Goldman Sachs Group Inc. boosted its stake in Rio Tinto by 4.1% in the first quarter. Goldman Sachs Group Inc. now owns 8,368,620 shares of the mining company’s stock valued at $502,787,000 after acquiring an additional 326,661 shares during the period. Auto Owners Insurance Co boosted its stake in Rio Tinto by 77,150.0% in the first quarter. Auto Owners Insurance Co now owns 7,416,000 shares of the mining company’s stock valued at $445,553,000 after acquiring an additional 7,406,400 shares during the period. Dimensional Fund Advisors LP boosted its stake in Rio Tinto by 33.9% in the first quarter. Dimensional Fund Advisors LP now owns 1,938,247 shares of the mining company’s stock valued at $116,510,000 after acquiring an additional 490,357 shares during the period. Northern Trust Corp boosted its stake in Rio Tinto by 3.8% in the first quarter. Northern Trust Corp now owns 1,663,964 shares of the mining company’s stock valued at $99,971,000 after acquiring an additional 60,927 shares during the period. Finally, Deutsche Bank AG boosted its stake in Rio Tinto by 143,872.8% in the fourth quarter. Deutsche Bank AG now owns 1,264,081 shares of the mining company’s stock valued at $74,341,000 after acquiring an additional 1,263,203 shares during the period. 19.33% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on RIO shares. Morgan Stanley reiterated an “overweight” rating on shares of Rio Tinto in a research report on Monday, July 14th. Deutsche Bank Aktiengesellschaft downgraded Rio Tinto from a “buy” rating to a “hold” rating in a research report on Wednesday, July 30th. Jefferies Financial Group reiterated a “hold” rating on shares of Rio Tinto in a research report on Tuesday, June 3rd. Wall Street Zen downgraded Rio Tinto from a “strong-buy” rating to a “buy” rating in a research report on Monday, April 28th. Finally, Barclays reiterated an “overweight” rating on shares of Rio Tinto in a research report on Wednesday, July 2nd. Four research analysts have rated the stock with a hold rating, four have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, Rio Tinto presently has an average rating of “Moderate Buy” and an average target price of $73.00.

Rio Tinto Stock Performance

RIO opened at $60.35 on Tuesday. The company has a market capitalization of $75.69 billion, a price-to-earnings ratio of 9.36 and a beta of 0.64. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.53 and a quick ratio of 1.03. Rio Tinto PLC has a 1-year low of $51.67 and a 1-year high of $72.08. The business has a 50 day moving average price of $59.89 and a two-hundred day moving average price of $60.34.

Rio Tinto Cuts Dividend

The company also recently announced a semi-annual dividend, which will be paid on Thursday, September 25th. Shareholders of record on Friday, August 15th will be given a $1.48 dividend. This represents a yield of 620.0%. The ex-dividend date is Friday, August 15th. Rio Tinto’s dividend payout ratio is 45.74%.

About Rio Tinto

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.