TD Waterhouse Canada Inc. Increases Holdings in Rio Tinto PLC $RIO

TD Waterhouse Canada Inc. increased its holdings in shares of Rio Tinto PLC (NYSE:RIO) by 43.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 100,630 shares of the mining company’s stock after purchasing an additional 30,373 shares during the quarter. TD Waterhouse Canada Inc.’s holdings in Rio Tinto were worth $9,403,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. AdvisorNet Financial Inc lifted its holdings in Rio Tinto by 160.2% in the 1st quarter. AdvisorNet Financial Inc now owns 294 shares of the mining company’s stock worth $27,000 after purchasing an additional 181 shares in the last quarter. Evelyn Partners Investment Management LLP purchased a new stake in Rio Tinto during the 4th quarter valued at approximately $34,000. V Square Quantitative Management LLC bought a new stake in shares of Rio Tinto during the first quarter valued at approximately $35,000. Glen Eagle Advisors LLC raised its position in shares of Rio Tinto by 32.2% during the fourth quarter. Glen Eagle Advisors LLC now owns 452 shares of the mining company’s stock valued at $36,000 after buying an additional 110 shares during the last quarter. Finally, Costello Asset Management INC purchased a new position in shares of Rio Tinto in the first quarter worth $37,000. Institutional investors own 19.33% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on RIO. Erste Group Bank cut shares of Rio Tinto from a “buy” rating to a “hold” rating in a research note on Thursday, August 27th. DZ Bank upgraded shares of Rio Tinto from a “hold” rating to a “strong-buy” rating in a research note on Friday, May 29th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating on shares of Rio Tinto in a report on Friday, May 15th. Bank of America cut Rio Tinto from a “buy” rating to a “neutral” rating in a report on Friday, May 22nd. Finally, Zacks Research upgraded Rio Tinto from a “strong sell” rating to a “hold” rating in a research report on Wednesday. Two analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, eight have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $101.62.

Rio Tinto Stock Performance

Shares of RIO opened at $103.21 on Friday. The company’s fifty day moving average is $96.87 and its 200 day moving average is $97.90. Rio Tinto PLC has a fifty-two week low of $61.72 and a fifty-two week high of $112.58. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.93 and a current ratio of 1.42.

Rio Tinto Dividend Announcement

The firm also recently announced a dividend, which will be paid on Thursday, September 24th. Stockholders of record on Friday, August 14th will be issued a $2.11 dividend. The ex-dividend date is Friday, August 14th. This represents a dividend yield of 441.0%.

Rio Tinto 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.