Trust Investment Advisors Cuts Holdings in Rio Tinto PLC $RIO

Trust Investment Advisors lessened its position in shares of Rio Tinto PLC (NYSE:RIO) by 3.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 36,444 shares of the mining company’s stock after selling 1,318 shares during the period. Rio Tinto makes up 1.3% of Trust Investment Advisors’ portfolio, making the stock its 17th biggest position. Trust Investment Advisors’ holdings in Rio Tinto were worth $2,126,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of RIO. Purkiss Capital Advisors LLC purchased a new stake in shares of Rio Tinto during the 2nd quarter worth about $202,000. May Hill Capital LLC purchased a new stake in Rio Tinto during the second quarter worth approximately $208,000. Shilanski & Associates Inc. grew its stake in Rio Tinto by 2.8% during the second quarter. Shilanski & Associates Inc. now owns 61,529 shares of the mining company’s stock worth $3,589,000 after buying an additional 1,676 shares during the period. Y Intercept Hong Kong Ltd acquired a new stake in shares of Rio Tinto in the second quarter worth $1,573,000. Finally, Envestnet Asset Management Inc. raised its stake in shares of Rio Tinto by 2.6% in the 2nd quarter. Envestnet Asset Management Inc. now owns 525,680 shares of the mining company’s stock valued at $30,663,000 after acquiring an additional 13,279 shares during the period. 19.33% of the stock is currently owned by hedge funds and other institutional investors.

Rio Tinto Stock Performance

NYSE:RIO opened at $70.99 on Tuesday. Rio Tinto PLC has a one year low of $51.67 and a one year high of $71.42. The company has a current ratio of 1.53, a quick ratio of 1.03 and a debt-to-equity ratio of 0.37. The business’s 50-day simple moving average is $64.89 and its 200 day simple moving average is $61.63.

Rio Tinto Cuts Dividend

The firm also recently announced a semi-annual dividend, which was paid on Thursday, September 25th. Stockholders of record on Friday, August 15th were paid a dividend of $1.48 per share. This represents a dividend yield of 620.0%. The ex-dividend date was Friday, August 15th.

Analyst Ratings Changes

RIO has been the subject of a number of research reports. Deutsche Bank Aktiengesellschaft cut shares of Rio Tinto from a “buy” rating to a “hold” rating in a research report on Wednesday, July 30th. Zacks Research raised Rio Tinto from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 6th. Berenberg Bank reiterated a “hold” rating on shares of Rio Tinto in a report on Thursday, July 3rd. Weiss Ratings reissued a “hold (c)” rating on shares of Rio Tinto in a research report on Wednesday, October 8th. Finally, Morgan Stanley restated an “overweight” rating on shares of Rio Tinto in a report on Wednesday, October 8th. Three equities research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $73.00.

Rio Tinto Company Profile

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.