Lighthouse Investment Partners LLC Increases Stake in Rio Tinto PLC $RIO

Lighthouse Investment Partners LLC boosted its position in Rio Tinto PLC (NYSE:RIO) by 430.7% during the third quarter, HoldingsChannel reports. The fund owned 166,432 shares of the mining company’s stock after buying an additional 135,070 shares during the quarter. Lighthouse Investment Partners LLC’s holdings in Rio Tinto were worth $10,986,000 as of its most recent filing with the SEC.

Other institutional investors have also added to or reduced their stakes in the company. Cubist Systematic Strategies LLC bought a new stake in shares of Rio Tinto in the first quarter valued at approximately $84,000. AQR Capital Management LLC boosted its holdings in Rio Tinto by 78.4% in the 1st quarter. AQR Capital Management LLC now owns 12,087 shares of the mining company’s stock worth $726,000 after buying an additional 5,310 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Rio Tinto by 20.7% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 11,485 shares of the mining company’s stock worth $690,000 after buying an additional 1,968 shares during the period. Empowered Funds LLC grew its stake in Rio Tinto by 5.8% in the 1st quarter. Empowered Funds LLC now owns 5,280 shares of the mining company’s stock valued at $317,000 after buying an additional 288 shares in the last quarter. Finally, Focus Partners Wealth grew its stake in Rio Tinto by 16.7% in the 1st quarter. Focus Partners Wealth now owns 15,985 shares of the mining company’s stock valued at $962,000 after buying an additional 2,285 shares in the last quarter. 19.33% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. HSBC downgraded Rio Tinto from a “buy” rating to a “hold” rating in a research report on Monday, January 26th. Citigroup upgraded Rio Tinto to a “hold” rating in a research report on Tuesday, February 10th. JPMorgan Chase & Co. lowered Rio Tinto from an “overweight” rating to a “neutral” rating in a research note on Monday, March 9th. Barclays downgraded Rio Tinto from an “overweight” rating to an “equal weight” rating in a research note on Tuesday, February 24th. Finally, Argus lifted their target price on Rio Tinto from $70.00 to $85.00 and gave the company a “buy” rating in a report on Thursday, December 11th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and ten have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $81.00.

Rio Tinto Price Performance

NYSE RIO opened at $87.83 on Monday. The company’s 50 day simple moving average is $92.23 and its two-hundred day simple moving average is $77.84. The company has a current ratio of 1.44, a quick ratio of 0.98 and a debt-to-equity ratio of 0.33. Rio Tinto PLC has a 1 year low of $51.67 and a 1 year high of $101.53.

Rio Tinto Dividend Announcement

The firm also recently disclosed a dividend, which will be paid on Thursday, April 16th. Investors of record on Friday, March 6th will be given a $2.54 dividend. This represents a dividend yield of 564.0%. The ex-dividend date is Friday, March 6th.

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.