May Hill Capital LLC Purchases 5,948 Shares of Rio Tinto PLC $RIO

May Hill Capital LLC lifted its position in Rio Tinto PLC (NYSE:RIO) by 129.4% in the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 10,544 shares of the mining company’s stock after acquiring an additional 5,948 shares during the period. May Hill Capital LLC’s holdings in Rio Tinto were worth $844,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Accredited Investors Inc. bought a new position in shares of Rio Tinto in the 4th quarter worth approximately $202,000. AlphaCore Capital LLC increased its position in Rio Tinto by 4.0% during the 4th quarter. AlphaCore Capital LLC now owns 5,234 shares of the mining company’s stock valued at $419,000 after buying an additional 200 shares in the last quarter. Thrivent Financial for Lutherans increased its position in Rio Tinto by 77.5% during the 4th quarter. Thrivent Financial for Lutherans now owns 32,072 shares of the mining company’s stock valued at $2,576,000 after buying an additional 14,006 shares in the last quarter. Pinnacle Associates Ltd. increased its position in Rio Tinto by 0.5% during the 4th quarter. Pinnacle Associates Ltd. now owns 44,119 shares of the mining company’s stock valued at $3,531,000 after buying an additional 200 shares in the last quarter. Finally, Bank Julius Baer & Co. Ltd Zurich increased its position in Rio Tinto by 1,525.0% during the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 32,223 shares of the mining company’s stock valued at $2,579,000 after buying an additional 30,240 shares in the last quarter. Institutional investors own 19.33% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. HSBC lowered Rio Tinto from a “buy” rating to a “hold” rating in a research report on Monday, January 26th. Royal Bank Of Canada reaffirmed a “sector perform” rating on shares of Rio Tinto in a research report on Thursday, January 22nd. Barclays lowered Rio Tinto from an “overweight” rating to an “equal weight” rating in a research report on Tuesday, February 24th. Citigroup reaffirmed a “neutral” rating on shares of Rio Tinto in a research report on Monday, April 13th. Finally, Weiss Ratings raised Rio Tinto from a “hold (c)” rating to a “buy (b-)” rating in a research report on Friday, February 20th. Four research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $101.75.

Rio Tinto Trading Down 5.4%

Rio Tinto stock opened at $103.63 on Friday. The stock has a fifty day simple moving average of $95.95 and a two-hundred day simple moving average of $87.22. Rio Tinto PLC has a 12 month low of $55.64 and a 12 month high of $112.58. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.44 and a quick ratio of 0.98.

Rio Tinto Announces Dividend

The firm also recently announced 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 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.