Central Valley Advisors LLC Invests $1.53 Million in Rio Tinto PLC $RIO

Central Valley Advisors LLC bought a new position in shares of Rio Tinto PLC (NYSE:RIO) during the second quarter, HoldingsChannel.com reports. The firm bought 26,233 shares of the mining company’s stock, valued at approximately $1,530,000.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Goldman Sachs Group Inc. grew its position in shares of Rio Tinto by 4.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 8,368,620 shares of the mining company’s stock worth $502,787,000 after purchasing an additional 326,661 shares in the last quarter. Auto Owners Insurance Co grew its position in shares of Rio Tinto by 77,150.0% during the 1st quarter. Auto Owners Insurance Co now owns 7,416,000 shares of the mining company’s stock worth $445,553,000 after purchasing an additional 7,406,400 shares in the last quarter. Dimensional Fund Advisors LP grew its position in shares of Rio Tinto by 33.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,938,247 shares of the mining company’s stock worth $116,510,000 after purchasing an additional 490,357 shares in the last quarter. Northern Trust Corp grew its position in shares of Rio Tinto by 3.8% during the 1st quarter. Northern Trust Corp now owns 1,663,964 shares of the mining company’s stock worth $99,971,000 after purchasing an additional 60,927 shares in the last quarter. Finally, Earnest Partners LLC grew its position in shares of Rio Tinto by 3.4% during the 1st quarter. Earnest Partners LLC now owns 1,372,590 shares of the mining company’s stock worth $82,465,000 after purchasing an additional 44,727 shares in the last quarter. Institutional investors and hedge funds own 19.33% of the company’s stock.

Analyst Upgrades and Downgrades

RIO has been the topic of several analyst reports. Jefferies Financial Group reiterated a “hold” rating on shares of Rio Tinto in a research report on Tuesday, June 3rd. Barclays reiterated an “overweight” rating on shares of Rio Tinto in a research report on Wednesday, July 2nd. Berenberg Bank reiterated a “hold” rating on shares of Rio Tinto in a research report on Thursday, July 3rd. Deutsche Bank Aktiengesellschaft lowered shares of Rio Tinto from a “buy” rating to a “hold” rating in a research report on Wednesday, July 30th. Finally, Morgan Stanley reiterated an “overweight” rating on shares of Rio Tinto in a research report on Monday, July 14th. Two equities research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, Rio Tinto has a consensus rating of “Moderate Buy” and an average target price of $73.00.

Rio Tinto Trading Down 0.4%

NYSE:RIO opened at $63.44 on Wednesday. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.53 and a quick ratio of 1.03. The firm has a 50-day moving average of $61.71 and a 200-day moving average of $60.37. The company has a market cap of $79.56 billion, a PE ratio of 9.84 and a beta of 0.66. Rio Tinto PLC has a one year low of $51.67 and a one year high of $72.08.

Rio Tinto Cuts Dividend

The firm also recently declared a semi-annual dividend, which will be paid on Thursday, September 25th. Investors of record on Friday, August 15th will be paid a dividend of $1.48 per share. This represents a dividend yield of 620.0%. The ex-dividend date is Friday, August 15th. Rio Tinto’s dividend payout ratio is presently 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.