97,141 Shares in Rio Tinto PLC $RIO Acquired by L & S Advisors Inc

L & S Advisors Inc bought a new position in shares of Rio Tinto PLC (NYSE:RIO) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 97,141 shares of the mining company’s stock, valued at approximately $7,774,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in RIO. PFS Partners LLC bought a new stake in Rio Tinto during the fourth quarter worth approximately $28,000. Nvest Wealth Strategies Inc. bought a new stake in Rio Tinto during the fourth quarter worth approximately $28,000. Trust Co. of Toledo NA OH bought a new stake in Rio Tinto during the fourth quarter worth approximately $34,000. Root Financial Partners LLC bought a new stake in Rio Tinto during the third quarter worth approximately $36,000. Finally, Migdal Insurance & Financial Holdings Ltd. bought a new stake in Rio Tinto during the fourth quarter worth approximately $37,000. Institutional investors own 19.33% of the company’s stock.

Wall Street Analysts Forecast Growth

RIO has been the topic of several recent analyst reports. Weiss Ratings raised Rio Tinto from a “hold (c)” rating to a “buy (b-)” rating in a report on Friday, February 20th. DZ Bank cut Rio Tinto from a “strong-buy” rating to a “hold” rating in a report on Friday, February 20th. Morgan Stanley cut Rio Tinto from an “overweight” rating to an “equal weight” rating in a report on Wednesday, January 28th. Erste Group Bank raised Rio Tinto from a “hold” rating to a “buy” rating in a report on Friday, January 23rd. Finally, HSBC cut Rio Tinto from a “buy” rating to a “hold” rating in a report on Monday, January 26th. Four investment analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the stock. According to data from MarketBeat, Rio Tinto has an average rating of “Hold” and an average price target of $101.75.

Rio Tinto Stock Performance

NYSE RIO opened at $103.63 on Friday. Rio Tinto PLC has a 1 year low of $55.64 and a 1 year high of $112.58. The business’s fifty day moving average is $95.95 and its two-hundred day moving average is $87.22. The company has a quick ratio of 0.98, a current ratio of 1.44 and a debt-to-equity ratio of 0.33.

Rio Tinto Dividend Announcement

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

Rio Tinto Company Profile

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.